Ballot opens for the first Waikato KiwiBuild homes

Oct 25, 2018 | News

The first 10 KiwiBuild homes to be balloted at the Lakeside development in Te Kauwhata are two-bedroom modern standalone homes, all fully landscaped with off-street parking and a home appliance package. They are priced at $480,000 each, well under the KiwiBuild price caps.

Initial works are already underway and construction of these 10 KiwiBuild homes will be completed by Christmas 2019. The ballot opens on Monday 29th October for these first ten homes.

Phil Twyford said there will be 175 KiwiBuild homes in this development, and complements wider central and local government investment in infrastructure in and around Te Kauwhata.

“Te Kauwhata is expected to be a major growth area in North Waikato. That’s why in July, I confirmed $38 million of 10-year interest-free loans to Waikato District Council to support major infrastructure projects around Te Kauwhata to enable the building of more houses. At the time, I said I hope we’ll see affordable starter homes for young families built right here in Lakeside, and now there will be thanks to Winton and KiwiBuild.

The Lakeside development is a master-planned community nestled on the banks of Lake Waikare, less than a kilometre from the Te Kauwhata town centre and its schools and other facilities.

It will comprise 1,600 homes, including the 175 KiwiBuild homes, and its own village centre, which will have a range of amenities for relaxed family living. As part of the development, over 5km of walking and cycling trails are being created, giving public access to the banks of Lake Waikare for the first time. A large recreational lake is also being created to the east of the development.

Phil Twyford said KiwiBuild will continue to offer a range of affordable homes for first home buyers, from inner city apartments to lifestyle-focused standalone homes, across the country.

“This will be a great option for young families who have been locked out of the housing market to live in an area with significant lifestyle benefits,” Phil Twyford said.

• Only eligible, pre-qualified buyers can enter the ballots for these houses, so anyone interested should visit the KiwiBuild website and begin the pre-qualification process.

• KiwiBuild incentivises property developers to build more quality, affordable homes faster, by reducing their risk in a number of ways, including underwriting homes in new developments.

• KiwiBuild is on track to deliver 1000 KiwiBuild homes by mid-2019, then a further 5000 homes by June 2020 and another 10,000 homes by June 2021.

• For more information please go to www.kiwibuild.govt.nz

KiwiBuild eligibility

To ensure KiwiBuild homes go to the people they are intended for, applicants must:

• Be a first-time buyer or a ‘second chancer’

• Have an income of less than $120,000 for a single buyer, or no more than $180,000 for more than one purchaser,

• Be a New Zealand citizen or permanent resident, or a resident visa holder who is ‘ordinarily resident in New Zealand’,

• And intend to own and live in the home as their primary place of residence for at least three years.

Pre-qualification requirements

The online pre-qualification process will ask for specific documentation certified by an authorised person (e.g. Justice of the Peace, lawyer, etc) including:

• Proof of citizenship/residency

• Proof of income

• Financial pre-approval from a bank or other lender

• Statutory declaration signed by an authorised person (e.g. a Justice of the Peace, lawyer)

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