Each week the NZ Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's the things to know if you want to buy a house using KiwiSaver. Hosted by Frances Cook.
You don't need me to tell you it's difficult for first-home buyers right now. We all know this.
What's more useful is finding out the various ways you can tip the scales in your favour.
The biggest weapon in your arsenal is KiwiSaver.
It can supercharge your savings, guaranteeing you double your money, even before you get any interest or investment returns.
But while KiwiSaver can be a godsend, you have to know how to use it.
For instance, it can be extremely difficult to use if you're buying a house at auction.
You also can't use it if you live in an expensive market like Auckland, and want to buy elsewhere.
There's no point stashing all your money in KiwiSaver, only to find out years down the track that you did it wrong.
I talked to Canstar's Jose George about why KiwiSaver is more powerful for house savings, the best fund to get you ahead, and the drawbacks that can trip people up.
For the episode, listen to the podcast.