'A New Hope' for Home Ownership
It’s a new company called Bloxx. It involves actor Cliff Curtis and former banker Chris Smith who are worried so many people can’t get on the property ladder.
The average house price in NZ is more than $900k, and the minimum deposit requirement is traditionally $90k to $180k.
The average salary is $65k.
You've got 15+ years to save up for a deposit if you don’t have rich parents.
And no, there’s no mortgage alternative, no other option to own a home than borrow money from a bank.
You pay 1% down and then build equity with every monthly payment.
The monthly fixed BLOXX payment is similar to the cost you would have been paying in rent over that period.
Equity builds 3 x faster than what you would have been paying off the mortgage.
BLOXX wasn’t just about buying a house, for us it’s a path towards wealth creation. We get to own the house we live in and start building equity from day one. BLOXX has made homeownership a reality for us, and now we’re building a brighter future for ourselves.
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Support a new way forward for homeownership in New Zealand. Together, we can turn generation rent into generation BLOXX.
Chris has over 20 years’ experience in executive banking roles both in the UK and NZ (Westpac & BNZ). Chris recently founded and launched a Proptech company in the US.
Brett is a seasoned entrepreneur, with a diverse background in construction, property, and ventures spanning multiple industries and global markets.
Samuel is an experienced barrister based in Auckland’s CBD specialising in civil & commercial litigation and advice – Regulatory & Insurance litigation and advice.
Hayden has an extensive Corporate Finance, Strategy and Financial Modelling background, both in banking with JBWere, Deutsche Bank, and Cameron Partners; and in industry with Fonterra.