Looking after someone else’s home is one of the tactics that would-be homeowners are adopting in a bid to boost their home savings
Saving up for a deposit is challenging for first-home buyers and many are looking after homes and pets to add to their funds while using Kiwisaver funds is the option being used by others.
Jason Strong of The Housesitting Company says he has seen a rise in business recently and says that the trend has spread from an initial boom in Auckland.
"Two years ago at least 90 percent of sits and sitters were in Auckland, but the rest of the country is catching up and now Auckland only represents 55 percent of activity," he told Radio New Zealand.
He added that Auckland’s North Shore and Auckland Central were the top locations for housesitters but Wellington, Bay of Plenty and Christchurch are not far behind.
Sitters don’t pay rent in return for looking after the home and pets.
Meanwhile, Blair Vernon of AMP says that first-home buyers should act sooner rather than later if they choose to use Kiwisaver funds to buy a home.
“If you're in your 20s you still have time to recommence your KiwiSaver contributions and accumulate savings to fund your retirement,” he told Stuff.co.nz, adding “If you're late 30s or older, chances are you'll be withdrawing a higher amount of savings and you obviously have less time before retirement to recoup them.”
Jason Strong of The Housesitting Company says he has seen a rise in business recently and says that the trend has spread from an initial boom in Auckland.
"Two years ago at least 90 percent of sits and sitters were in Auckland, but the rest of the country is catching up and now Auckland only represents 55 percent of activity," he told Radio New Zealand.
He added that Auckland’s North Shore and Auckland Central were the top locations for housesitters but Wellington, Bay of Plenty and Christchurch are not far behind.
Sitters don’t pay rent in return for looking after the home and pets.
Meanwhile, Blair Vernon of AMP says that first-home buyers should act sooner rather than later if they choose to use Kiwisaver funds to buy a home.
“If you're in your 20s you still have time to recommence your KiwiSaver contributions and accumulate savings to fund your retirement,” he told Stuff.co.nz, adding “If you're late 30s or older, chances are you'll be withdrawing a higher amount of savings and you obviously have less time before retirement to recoup them.”
