Divhon88:

 

I've placed a 10% deposit to secure one of this 3 bedroom homes down here in Rotorua. Now it seems all those unsold ones are given to Kiwibuild at just $500,000 each.

 

Now it feels that I've just been robbed $139,000 + $16,000 FHL Grant.

 

https://www.kiwibuild.govt.nz/available-homes/show/66/mountview-green

 

Can any eligible person just purchase the Kiwibuild one though, or is it like a lottery where heaps apply? E.g are you able to just phone up and purchase the one for $500,000 from Kiwibuild, and then just cancel the other and forfeit the deposit ($563,900 is still better than $639,000)? Or better yet try to find a loophole to get out of the contract and get deposit back?

If the $500,000 one is like a lottery, where you have only a tiny chance of getting it at that price then the $639,000 is a lot easier to swallow since it's guaranteed.

But how can Kiwibuild sell the exact same house for $139,000 less? Did the developers substantially drop the price, or is the Government just subsidising it?