AFFORDABLE HOUSING
Amazing Price Point
First and foremost, Longevity builds high quality apartments that are very affordable.
A 1-bedroom apartment will sell at around $440,000.
A 2-bedroom apartment will see at around $520,000.
And these are not 'cheap' apartments. They are far better than nearly everything else on the market, and at a price that can't be beaten. We expect there to be a waiting list for buyers before pre-sales open. In fact, we would love to hear from customers to find out where they would like their apartment built.
It is our philosophy to pass on savings we generate from our process to consumers. We really care about making a difference in the supply of affordable housing in Auckland over the next 20 years.
Deposit Assistance
For some developments, and for approved buyers, Longevity is able to provide a deposit via a 2nd mortgage loan. This provides access to home ownership for working families.
The 2nd mortgage loan is at a slightly higher interest rate. It is designed to be repaid once the capital gain is sufficient that the property can be re-financed with a bank.
For example:
John and Sarah are both working and would like to buy a 1-bedroom apartment, but don't have a deposit. They take a 10% 2nd mortgage loan from Longevity at 6%, and a 90% mortgage from a bank at 6% for the remainder.
KiwiBuild
Longevity apartments are designed to be the right size in order to be affordable for the KiwiBuild scheme. This means 1-bedroom apartments of around 55m2, and 2-bedroom apartments of around 65m2 in the Auckland market.
If you are interested in buying an apartment from us via KiwiBuild, please lets us know your interest below.
Income Related Rents
The Ministry Of Social Development has a scheme where landlords (providers) can apply to have their rental lets under the 'income related rent' scheme. This is where the government provides a top up for the tenant to make the rent affordable. This creates opportunities for working families to access quality accommodation.