Affordable housing options will create more opportunities for first home buyers in the Auckland market. It is expected that about 25% of properties delivered by TRC will be sold as afforable homes. This is defined as households paying no more than 30% of their income on housing. This figure is taken before tax, student loan repayments, and KiwiSaver contributions have been deducted.
All homes share the same attention to detail and quality. They are designed to make the most of natural light and to be energy efficiency. Tamaki Regeneration has two affordable housing options to help different kinds of households to own their own homes.
Market affordable homes
Market affordable homes are sold at $650,000 or less, and usually have two bedrooms. You can use the KiwiSaver HomeStart grant to assist you in buying an affordable home. The following development partners have affordable housing options available:
Mike Greer Homes have market afforable homes for sale in Fenchurch, Glen Innes. These range from one to two bedrooms.
Classic Builders have market affordable homes in Fenchurch, Glen Innes. These range from one bedroom apartments.
Creating Communities Ltd's affordable homes in Northern Glen Innes have now all been allocated.
TRC are particularly interested in hearing from people who live in, or have a strong connection to Tamaki. Please email firstname.lastname@example.org to register your interest in affordable housing.
This is where a couple or individual purchases a share of a homes (usually 75%). The remainder is owned by TRC, and the owner has the option to purchase this over time. Both parties are owners on the property title. The couple or individual secure a mortgage with a bank for their share of the household. They need a deposit of about 10% of their share. The household is responsible for interest and mortgage payments on their share of the property, and some administration fees.
TRC are particularly interested in hearing from people who live in, or have a strong connection to Tamaki. Please email email@example.com to register your interest in affordable housing. More information on assisted ownership homes and criteria will be available soon.