🏡 Housing is about belonging more than bricks

We focus on supporting our customers through debt and on with life- it's a pathway. Similarly, we believe that more pathways to home ownership are needed and all too often financial products become the barrier to this becoming a reallity for New Zealanders.

I believe that creating pathways that acknowledge the multitude of definitions of home, ownership and family is crucial in driving an inclusive Aotearoa.

After Grant Kemble Stuff article that highlighted the challenges and opportunities of funding innovative home ownership pathways and referred to our approach at Money Sweetspot as an option, Wallace Chapman at RNZ got in touch to get my thoughts.

Why is there an issue?

Access to finance for homes that don't fit the traditional definition of 'home' can be challenging. Here are a few examples:

💡 A tiny home is defined by some as a moveable vehicle, so obtaining finance at a reasonable cost can be challenging

💡 First home buyers can access their Kiwisaver to help them with their deposit, but it can't be used for a tiny home, only for the land portion of the purchase

💡 Building you home on land that has shared ownership is also tricky

💡 Navigating saving a deposit, satisfying the lender that you can afford the loan, who you will buy the house with, at the same time as the current cost of living day to day can mean that home ownership dreams feel like a different galaxy 💫, nevermind a distant dream

Some existing options

As Georgina Stylianou said, banks are only part of the solution. Here are some existing innovations in this space:

👉 Aera that support people to save, and reduce the impact of deposits being the barrier to home ownership

👉 Hikurangi Enterprises  Te Whare circular economy approach to modular housing and utilisation of shared land

👉 Te Whenua Group who are focussed on empowering a brighter future for all Kiwi’s with regenerative housing

👉 Slice who are working on a platform for co-ownership

Not to mention the many shared ownership and rent to buy schemes offered by Habitat for Humanity New Zealand and the work of members of Community Housing Aotearoa Ngā Wharerau o Aotearoa

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