“A bold, historically significant, game changing move for New Zealand’s first home buyers” is how Housing Foundation’s Chief Executive Dominic Foote described last weeks Government funding announcement on progressive home ownership.
“The Housing Foundation has been operating an affordable home ownership scheme for low income households for 18 years and now welcomes the Government’s cash injection to help scores of hard-working Kiwis on low and very modest incomes purchase their first home.”
From our long experience with first-time homeowners we know one of the keys to our families’ financial future is saying goodbye to the landlord and hello to affordable home ownership! Essentially this is what a progressive home ownership scheme accomplishes, it moves low and modest income families from paying rent into paying a mortgage. It creates the opportunity for these families to experience the many benefits of home ownership.
Since its inception the Housing Foundation have assisted over 400 families into owning their first home. We started with support from The Tindall Foundation and have continued to grow. The government’s announcement will allow the Housing Foundation to significantly ramp up our delivery programmes, helping many more families.
“We are proud of our achievements with our progressive home ownership programmes. Our programmes work because they are supported by banks who want to see Kiwis living better lives in homes they can afford” says Sandy Foster, the Chair of the Housing Foundation.