Employee Benefit Series: First Home Grant

Dannielle Cook

This blog is part two of our five-part series on some of the unique employee benefits available for the team at IT Partners. This second article focuses on our first home buyers grant and how this initiative has had an extremely positive impact on the lives of many members of the IT Partners team.

According to Stats NZ, the proportion of people living in their own homes was the lowest in almost 70 years at the time of the 2018 Census, and homeownership is becoming much less common for New Zealanders today.

The concept of IT Partners’ first homebuyers grant came from our Managing Director, Andrew Johnson, who recognizes that stepping onto the property ladder is a challenging stage in life. Between the increasing cost of living, tough lending laws and rising house prices, Andrew’s mission was to ease some of the financial strain that first-homebuyers encounter. This coupled with a strong culture of financial well-being (as part of our wider well-being program) that is fostered at IT Partners, leads to our people and their families starting off their home ownership journey with the financial literacy tools for long-term financial health.

Importance of Financial Literacy Beyond Home Ownership

Financial literacy is an integral part of preparing for and sustaining investments (beyond just property). To foster our teams awareness in this area, we leverage the support of BNZ’s Corporate Wellbeing Programme which through education and the use of Financial Health checks aims to drive a more engaged workforce, increase retention, reduce financial anxiety, and improve overall job satisfaction.

Hear first-hand from IT Partners Finance Specialist Kaitlin Grenside who received the IT Partners First Home Grant for the purchase of her first home with her husband Scott in 2017:

What impact did the grant from IT Partners have on your first home-buying journey?

“The First Home Grant had such a positive and significant impact on our first home-buying journey. My husband and I bought our first home in March 2017, and we are forever grateful for the support and contribution received from Andrew and IT Partners.”

How has the IT Partners’ culture of financial well-being shaped your overall financial health?

“IT Partners have such a great culture, including sharing significant resources regarding financial well-being with the team. Even with both my husband and I being from a finance background, we are always getting new information and advice through the initiatives IT Partners run. We are so lucky!”

Why do you think this First Home Buyer Grant is so beneficial for the team here at IT Partners?

“The grant is so beneficial for the team. Buying a first home can be very daunting and every little bit counts. It’s also lovely to know you have such great support from your employer, not just financially but with knowledge and advice too.”

What are some tips you would give to people looking to get into their first home?

“Highly recommend using a mortgage broker. They help with not only the loan side of things but have so much knowledge regarding the legalities and any government initiatives you might be entitled to. I would also recommend not using all your savings for a deposit, as all sorts of extra costs can pop up being a homeowner. Having an ‘emergency home fund’ gives you a bit of extra security when you can’t call the landlord to fix something.”

For many New Zealanders, the dream of owning a home is a distant reality. We believe at IT Partners that investing in the futures of our people through the First Home Buyer Grant builds a stronger, happier, and more productive team.

If you’re interested in learning more about employee benefits here at IT Partners, head to our blog page on our website. Alternatively, if you’re interested in joining our amazing team, email us [email protected].