Here's information eligible, pre-qualified first-home buyers should know
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The government has announced 68 KiwiBuild homes are expected to be completed in mid-2019 in New Plymouth.
The starter homes will be built in Marfell with two-thirds being three-bedroom homes and the remainder four-bedroom, with construction to start early next year.
“This new community on Banks Street and Discovery Place is a fantastic opportunity for first home buyers who have been locked out of the market to get a very affordable home,” Minister for Housing and Urban Development Phil Twyford said. “It will rejuvenate an area that had been left with vacant lots and run down houses.”
Majority of the KiwiBuild homes built at this development will be under $400,000, and all will have a maximum price of $450,000.
This means the mortgage repayments for houses in this price range will be the same as the average rent for a three-bedroom home in New Plymouth, Twyford noted.
“We’re giving hope back to over 1,400 people who’ve registered their interest in buying their first home in New Plymouth,” he added. “I’d like to also acknowledge and thank the New Plymouth District Council, who have been very supportive of this development and have helped with the planning process.
