PHOTO: An Auckland family are due to move into a four bedroom home in Flat Bush in October. Photo credit: Getty
An Auckland family who are just months away from moving into a house bought through a shared ownership scheme say it has already drastically changed their lives.
The Government on Friday announced the first phase of its $400 million progressive ownership scheme that it says will help up to 4000 families, who could not otherwise afford to buy a house.
Tony Seiuli, his wife and three children are due to move into a four bedroom newly built home in Flat Bush in October.
The Seiulis bought the $840,000 property with the help of the Housing Foundation in Auckland. The plan over time is to gradually buy out the foundation’s 20 percent stake.
“It’s an amazing home with an amazing view so we’re really excited, surrounded by huge homes. There’s also a reserve out there,” Seiuli said.
With his wife and three children, they had been trying to buy a home in Auckland for a long time, but it was too difficult with banks asking for 20 percent deposits on properties that were selling for more than $1 million.
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