The First-Home Buyer’s Guide

1. Financial Support & Grants: What’s Available

The landscape for first-home assistance has shifted. Here is the current status of the tools at your disposal:

KiwiSaver First-Home Withdrawal: You can still withdraw your savings (plus employer and government contributions) once you’ve been a member for three years.
First Home Loan (5% Deposit): This remains the most powerful tool for locals. If you meet the income caps, you may only need a 5% deposit.
The First Home Grant (Update): Please note that the government discontinued the First Home Grant in late 2024. However,First Home Partner (shared ownership) and specific Kāinga Ora schemes still apply to certain new builds in the Tasman district.

Pro Tip: As of early 2026, the market has become more balanced. With the OCR settling around 2.25%, mortgage serviceability has improved, making this an ideal window for first-time buyers to enter the market.

2. Where to Buy: Finding “Entry-Level” Pockets

While the regional median price sits at approximately $718,000 for Nelson and $810,000 for Tasman, there are still affordable pockets perfect for first-time buyers.

Area	Best For…	Why First-Home Buyers Love It
Stoke	Value & Location	Situated perfectly between Richmond and Nelson with great flat sections and new developments like Greenmeadows Terrace.
Brightwater	Village Vibe	More “bang for your buck” and a great community feel for young families just south of Richmond.
Atawhai	Views & Proximity	Great entry-level homes on the hills with sea views, just minutes from the Nelson CBD.
Berryfields (Richmond)	New Builds	High-density, modern, and energy-efficient homes that often qualify for lower deposit requirements.
Victory/The Brook	Character Homes	More affordable character cottages for those who don’t mind a DIY project and want to be near the city.

3. The “Nelson Factor”: What to Look for During Viewings

In our region, “Sun is Currency.” When viewing properties, keep these local factors in mind:

Sun Aspect & Shading: Because of the surrounding hills, some parts of Nelson lose the sun early in winter. Always check the “winter sun” hours for the specific street.
The Great Taste Trail: Homes near the regional cycle trails often hold their value better for future resale and offer an unbeatable lifestyle.
Insurance & Natural Hazards: In 2026, insurers use site-specific risk pricing. Check the Natural Hazards Portal for historical claims and local council maps for flood or slope stability before signing a contract.

4. Your First-Home Roadmap

Get Mortgage Ready: Talk to a broker. Banks are currently looking for “clean” spending habits over the last 3 months.
Order a Building Report: Don’t skip this. Nelson has many older “stucco” and “charcoal” homes that require a professional eye.
Check the School Zones: Even if you don’t have kids, being in-zone for Waimea College or Nelson College adds significant “future-proof” value to your investment.
Register with Ray White: Many of our first-home-friendly properties sell “off-market” before they hit the major portals.

Frequently Asked Questions (FAQs)

Q: Can I still get the First Home Grant in 2026?
A: No. The First Home Grant (the $5,000–$10,000 government payment) was officially discontinued in May 2024. However, first-home buyers in Richmond and Nelson can still access the First Home Loan, which allows you to buy with just a 5% deposit, and your KiwiSaver withdrawal, which remains a primary source of funding.

Q: What is the minimum deposit I need for a home in Nelson or Richmond?
A: While the standard bank requirement is 20%, many local buyers qualify for a 5% deposit through the government-backed First Home Loan scheme.

For an entry-level home in Stoke at $650,000, a 5% deposit would be $32,500.
For a new build in Berryfields at $850,000, a 5% deposit would be $42,500.

Q: Are there specific “no-go” areas for first-home buyers due to insurance?
A: In 2026, insurance companies are more selective about “risk-based pricing.” This particularly affects low-lying areas or steep hillsides with a history of slips. Before you put an offer on a home in the Maitai Valley or near the Tahunanui hills, we strongly recommend getting an insurance “certificate of currency” pre-approval. Our team can provide you with the latest hazard maps to help you choose a “safe-bet” property.