Affordable equity model ideal for couple

Three years ago Lynette and Scott Douglas’ eldest daughter Katelyn was only 2 — but she’d already had four different places to call home.

Her mother, who works part-time in early childhood education, and her father, a chef, were forced to move each time landlords put up rent beyond what they could afford.

Scott Douglas said because they moved so much they never felt connected to the community they were living in. “We were never really able to put down any roots so to speak. We didn’t really get to know our neighbours like we do here.”

Lynette Douglas said it was “quite unsettling” to have to move her daughter so much.

They began contemplating a move out of the city when a friend mentioned the New Zealand Housing Foundation development in Waimahia Inlet on the Weymouth Peninsula. They applied and were accepted for the foundation’s affordable equity model, which enabled them to purchase a portion of a 4-bedroom home, on a normal bank mortgage. They had put in a deposit of $16,000, with help from their KiwiSaver funds, and had mortgage repayments of

HWatch the video with the Douglases at nzherald.co.nz just over $400 a week — much less than the $500+ they’d been asked to pay in rent.

The remainder was owned by the foundation until the Douglases were in a position to buy it out — which they hoped to be able to do.

Today, with a recent arrival to the family, 8-weekold Josiah, they said life was vastly different from when Katelyn was born.

“We have had meals dropped off, offers to help look after my daughter and people saying just to ask for help when we need it.”