Tāmaki Regeneration’s shared home ownership programme kicks off this month
After more than thirty years living in state housing, a Glen Innes whānau are unpacking their boxes in their very own home, bought through a shared home ownership arrangement with Tāmaki Regeneration Company (TRC).
The Minarapa whānau are the first to take advantage of TRC’s shared home ownership programme, which is kicking off this month with the first six whānau getting ready to move in to brand new homes.
“Home ownership is such a game changer,” says Shelley Katae, TRC’s GM Strategy and Performance. “It’s not just about being able to choose what colour to paint your walls, it’s about stability for your whānau, keeping your kids at the same school and it’s an asset for your entire whānau for generations to come.”
“Our programme shows how government-backed shared home ownership can work on the ground,” says Shelley. “We are focusing on supporting the wellbeing of people in our community, and providing affordable home ownership opportunities for our Tāmaki whānau is an important part of our approach.”
“The Government’s announcement last week that it is allocating $400m to a progressive home ownership scheme will be a boost to whānau like the Minarapa whānau who have found it difficult to buy their own home in the private market.”
Dave Minarapa says that for him, the opportunity to buy a house was about leaving something behind for the next generation.
“The future for our kids is here in the city, and for our grandchildren too,” he says.
Dave and Amy Minarapa have lived in state housing in Glen Innes for 35 years – in two houses on the same street.
Dave works for Viking Conveyor, a specialist conveyor belt company, and Amy is currently contracting. They have four adult sons, two of whom still live with them.
“We lived in our last house for 22 years. When we found out we were earning too much for a state house, we luckily saw a poster for PHI [Pathways to Housing Independence],” says Dave.
The TRC Pathways to Housing Independence (PHI) programme is delivered in partnership with the New Zealand Housing Foundation (NZHF), the Commission for Financial Capability through its Sorted programme, and local community organisations. It helps whānau get ready to step into home ownership through financial capability workshops and one-on-one mentoring.
As part of the PHI programme, Amy and Dave were able to become part of TRC’s Affordable Rental scheme. This meant they were able to stay in their state house paying affordable rent while they saved for a mortgage.
“We spent two and a half years saving up and clearing debts,” says Dave.
Dave is keen to get the message out that buying a house may seem hard, but it’s definitely possible.
"I think a lot of families think it’s not real, it’s not reachable. The only way we could have done this was with the support of our two young fellas,” he says.
They are taking out the mortgage on their brand new 4 bedroom home along with their son Anthony (22). Their son Julian (25) will also live with them and contribute rent.
“The absolute key to success in the PHI programme has been the depth of experience and open way of working that our delivery partners have brought to the table,” says Shelley.
There are currently more than 100 Tāmaki whānau who are either ready now, or will be in the next 12 months, to buy a home with TRC’s shared home ownership programme.
More than 40% of the mortgage-ready whānau are Māori or Pacific. Approximately 20% are currently living in a state home. Most of the 100 whānau will be unable to access any other form of home ownership in Tāmaki due to high deposit requirements and their need for larger homes.
Whānau accepted into the shared ownership programme will purchase approximately 70% of their home, while TRC owns the remaining 30% of the house. Whānau will gradually buy out TRC’s share in the home over time.