Cracking the first home code
Buying your first home doesn’t have to be confusing. Brooke Reynolds from Rapson Loans and Finance says there are more loan options available than most people realise. With the right advice, you can find a solution that fits your budget, deposit size, and property goals.
Buying your first home doesn’t have to be confusing. Brooke Reynolds from Rapson Loans and Finance says there are more loan options available than most people realise. With the right advice, you can find a solution that fits your budget, deposit size, and property goals.
If you're a first-home buyer, you might be surprised by how many loan options are actually available to you. It’s not just one-size-fits-all.
Here are three main types of loans to consider, along with how each one works:
1. First Home Loan (via Kāinga Ora)
Some banks offer First Home Loans in partnership with Kāinga Ora. The bank handles the initial assessment using its own lending policies, and then Kāinga Ora gives final approval for both the loan and the property you're looking to buy.
It’s important to note that just because Kāinga Ora gives the green light doesn’t mean the terms, such as how much you can borrow or the interest rate, will be the same across all banks. These can vary depending on the lender.
The minimum deposit is five percent, and the deposit can come from personal savings, a gift, or proceeds from selling an asset. Not that you’ll need to meet Kāinga Ora’s eligibility criteria, which can be found at kaingaora.govt.nz
2. 10% Deposit Home Loans
These are widely available through all major banks. While banks may pause pre-approvals based on application volumes, you can still proceed by making an offer on a property. Once your offer is accepted, the application becomes a live deal and can be assessed. Some lenders still offer pre-approvals for auction purchases. The minimum deposit is 10 percent, and at least five percent must be from genuine savings (e.g. KiwiSaver, cash savings, investment funds, or sale of an asset).
The remaining five percent can come from a gift or a deed of debt from family. Bank rates vary between lenders, however the rate will be higher than a 20 percent deposit loan. Some banks may offer a $5,000 cash-back for first-home buyers.
3. 5% Deposit Loan (Non–Kāinga Ora)
There’s at least one bank offering five percent deposit loans for borrowers who don’t meet Kāinga Ora’s criteria. This loan requires genuine savings for the full five percent deposit. Pre-approvals are not offered, but live deals (including auction purchases) will be assessed. Availability is subject to bank capacity – some may pause new applications from customers not already with the bank.
Important to note for all loan types
A professional property valuation is required for all three loan types. Make sure your offer includes enough time for both the assessment and valuation. These loans are not available on interest-only terms – you’ll need to make principal and interest repayments from the start. Navigating your first home loan can feel overwhelming, but a trusted mortgage adviser can guide you through the process. Ideally, choose one with access to all lenders, as borrowing limits and interest rates vary significantly between banks.
Pacing the planet
The overnight success of fitness app The Conqueror’s Challenge took more than a decade to take off. Co-founder and Bay local Adam El-Agez explains how a treadmill, a paper map and a big idea became an $80 million fitness empire.
The overnight success of fitness app The Conqueror’s Challenge took more than a decade to take off. Co-founder and Bay local Adam El-Agez explains how a treadmill, a paper map and a big idea became an $80 million fitness empire.
words KARL PUSCHMANN
One afternoon, Adam El-Agez’s ex-wife stepped off their treadmill, fetched a paper map of New Zealand, and pinned it to the wall in front of the machine. Then she got back on and kept running. When she finished, she checked her distance and marked it on the map, determined to “run” the length of Aotearoa without ever leaving the house. Intrigued, Adam joined in.
A former PE teacher, he loved the motivation the challenge gave him as he clocked up kilometres and made his way across the motu. But there was one part that constantly bugged him.
“We had a notebook and a calculator, and every time we went for a run on the treadmill, we’d put a line on the map. I found it clunky. I’m not good with pen and paper,” he laughs. “I was like, ‘There must be an app for this.’”
Surprisingly, there wasn’t. Adam searched online forums and discussion groups, but all he found were people like him, using pen and paper to track their running journeys. That’s when the Pāpāmoa entrepreneur realised his running app idea had legs.
“In my early 20’s I left teaching and went down an entrepreneurial pathway,” he says. Over two decades, he reckons he’s started around a dozen different companies, picking up skills in everything from online marketing to coding along the way.
“People call me a generalist. I’ve got no specialist skills, but a lot of knowledge and ability at a low level. I thought the app might be something I could build, so I just went off and built it.”
That app was The Conqueror Challenges, a fitness goal-setting app that’s now one of the world’s most downloaded exercise apps, generating a staggering $80 million per year. At its core, it’s a digital implementation of marking progress on a paper map.
“If I went for a 5km run, on the app I would advance down the length of New Zealand by 5km,” he explains.
While The Conqueror Challenges (TCC) stays true to Adam’s original, lo-fi concept, its popularity is because it makes fitness fun by gamifying exercise with a range of virtual challenges designed to keep you motivated. Sure, you could run the length of Aotearoa, but you could just as easily cycle the Inca Trail, or even follow Frodo’s The Lord of the Rings footsteps and walk from The Shire to Mordor. Along the way, users get virtual postcards packed with trivia, but the real prize is, funnily enough, a real prize. After crossing the finish line, you get sent a desirable physical medal to mark the accomplishment.
“The medals have become a bit collectible,” a chuffed Adam says. The app’s popularity hasn’t gone unnoticed either. In 2025, The Conqueror Challenges won Best Digital Interactive Product at the Licensing International Awards in Las Vegas for its Harry Potter Virtual Challenge series — beating out heavyweight finalists like Minecraft, Lego Duplo, Five Nights at Freddy’s and Roblox. “We’re just a relatively small, scrappy crew — no big machine behind us — yet somehow we’re out here doing global deals, delivering licensed products like clockwork, and getting high-fives for it. Honestly, it still blows my mind,” Adam says.
From the vantage point of 2025, it’s easy to assume TCC was an overnight success. That’s not the case. The journey began way back in 2012.
“It’s been a hell of a slog,” Adam admits. For years, he poured time and money into the app with little to show for it, aside from losses, frustration, and false starts. The traction he was convinced existed never seemed to arrive. But he didn’t quit.
“I was almost too deep in it,” he says. “You can’t sell a failed fitness app. You just turn the servers off and give up.”
A chance meeting online changed everything when Adam connected with a Romanian strategist named Raul Vintila. Raul wasn’t the first marketing expert Adam had brought in, but he was the f irst to truly understand Adam’s vision.
“He smashed it,” Adam smiles. Within a year, the app was out of the starting blocks. Adam was so impressed that he made Raul a co-founder, giving him half the company. Finally, the momentum Adam had believed in for so long had kicked in.
“The success happened super quick after a long, painful, hard, unsuccessful time,” Adam says. Despite the success, “literally the culmination of 20 years of business experience”, it hasn’t stopped him from dreaming up his next move. As an entrepreneur, he can’t help it. His restless drive is part of why he loves the Bay.
“I’m a very active person, and living here allows me to have that amazing quality of life, which helps, when you’re an ‘always-on’ entrepreneur,” he says, listing surfing, fishing, and mountain biking as some of his hobbies. Which lately, he’s had more time to engage with.
“Entrepreneurs don’t belong in mature businesses. I think they’re bad for it unless they bring a strong set of skills to the table. I don’t, so I stepped down as CEO. It’s been great! I’ve been doing heaps of hobbies, travel and spending time with family.”
After years of hardcore hustle, the break has been welcome. “I’ve enjoyed my time, but I know I need to move into something else.” Then, like a true entrepreneur, he grins and says, “I’m just not sure what that is yet.”
Staying power
A chance conversation has grown into a hugely successful business thanks to a focus on core values and positive word of mouth. MyStays owner Elle Knight shares her journey as the short-stay accommodation service moves into the Bay.
A chance conversation has grown into a hugely successful business thanks to a focus on core values and positive word of mouth. MyStays owner Elle Knight shares her journey as the short-stay accommodation service moves into the Bay.
photo JESSICA LEE PHOTOGRAPHY
Elle Knight didn’t set out to become a business owner. She was simply looking for a little light relief. With a newborn son, who was born deaf and requiring bilateral cochlear implants, and a husband recovering from a broken leg, things were tight. Then came a message from her cousin: “Want to borrow some DVDs?”
While dropping them off, her cousin mentioned her partner was looking to sell a small property management business in Taupō. He managed eight apartments, but they were ready to move to Vanuatu.
“I said to my husband, ‘I reckon that would be a good gig for me,’” Elle recalls. She saw potential – flexible hours that worked around the kids and enough income to cover essentials.
With no experience but a strong head for business, Elle joined forces with her mother-in-law, Denise, to purchase what was then called Luxury Lakeside Accommodation.
Elle’s years in banking had armed her with valuable systems knowledge and operational know-how – skills that would quietly lay the foundation for the scalable business they would later build.
“I’m very much a jump in and learn how to swim person,” she smiles. “Back then, we didn’t know what success would look like. It was exciting to think we had something that could make a real difference.”
In the early days, they did it all themselves, including the cleaning in the mornings, laundry at home, and manually managing bookings in the afternoons.
“It worked for about six months. But Taupō’s a small town. Word gets around.”
Before long, property owners began knocking. The business grew quickly, driven purely by word of mouth. For the next six years, growth was steady and organic, all based on one simple idea: genuine, high-quality service for both guests and homeowners.
“It got to a stage where we looked at each other one night and thought, ‘How has this happened?’” Elle laughs.
What had happened was remarkable. They’d built a reputation that larger, offshore-run platforms couldn’t match, rooted in care, consistency and personal connection. Property owners felt genuinely supported, and guests returned for the reliably high standard across every property.
When Denise stepped away, Elle and her husband took over completely. But they were fielding a new kind of request. Guests and owners alike asked if their services were available outside Taupō. The answer, eventually, became MyStays.
Launched in January 2024 as a sister brand to Lakeside Accommodation, MyStays was created to grow the business while maintaining the personal touch and high standards that made Lakeside a success.
While Lakeside continues to manage 60 plus properties in Taupō, the brands now work together in both Taupō and Kinloch, with a combined portfolio of over 110 homes.
“Taupō is still our base, but we realised there was a real demand for our kind of service in other regions,” says Elle. “MyStays lets us do that – scale up, while still keeping it personal.”
The two brands have since grown to manage 145 plus properties across New Zealand, including more than 25 homes in the Coromandel’s most sought-after beach destinations.
In every region, the heart of the operation is the same: a local, trusted team providing hands-on care. That’s where the GEM model (short for Guest Experience Manager) comes in. Each GEM is a local, supporting homeowners and guests with boots-on-the-ground knowledge and attention. Taupō and Kinloch have three GEMs working alongside the Lakeside team. The Coromandel is supported by another trio, with more roles in the pipeline as expansion continues.
“It’s really important to us that our service feels local,” Elle explains. “Our GEMs make that possible. They’re not just staff – they’re trusted partners who help us maintain that consistent experience we’re known for.”
That consistency is key. Whether guests book a MyStays property in Auckland, Whangamatā, or Napier, they know exactly what to expect: clean, stylish accommodation and responsive service. The Bay of Plenty is the latest region to join the MyStays map. It wasn’t initially part of Elle’s plan. She believed it was already well-served by boutique operators. But after hearing from multiple property owners dissatisfied with impersonal management companies, she saw room for MyStays to add value.
“It’s a stunning place. I’ve enjoyed family time and attending events here,” Elle says. “It’s vibrant and exciting, with great food and shopping, and it really is a year-round destination.”
Despite its scale, Elle still sees MyStays as a family business at heart. Her team is tight-knit, and many of them have grown within their roles as the company has scaled.
“There’s a real sense of belonging here,” she says. “That gives us an authentic connection to our owners and our guests. We believe in what we do, and when you see that connection happen, it’s pretty special.”
From a borrowed DVD collection to a nationwide property portfolio, Elle Knight’s journey proves that small beginnings can lead to big things.
Waikato showcase
Discover the Waikato’s premium businesses.
Crafting elegance
N.E.S is celebrating 25 years of timeless, New Zealand-made fashion. Creative director Kate Harris teams up with Robyn Stinson of ObyRyn, merging their distinct design visions to create something extraordinary. Known for versatile pieces with a refined edge, N.E.S prioritises local craftsmanship, offering women style, comfort and individuality. Here's to 25 years of evolving, yet enduring, fashion.
Light the sky
Balloons Over Waikato's ZURU Nightglow is Hamilton’s biggest night out, attracting over 30,000 attendees for a spectacular evening. Enjoy hours of live entertainment, carnival rides, food trucks, and the breathtaking hot air balloon glow show lighting up the sky. The night culminates in a dazzling SkyCity Hamilton fireworks display. A family favourite? Walking inside a real hot air balloon. This ticketed free event takes place every March.
Global success
Four mates, a few gins, and some bad jokes led to the creation of Clark Lane Distillery. Their Piko Gin blends native Pikopiko fern with pure Pirongia spring water. With a Silver at the Asia Spirits Challenge™ and Gold at the Gin of the Year™ awards in London, Piko Gin promises global success and sophisticated taste. Grab your bottle now.
Game on
SkyCity Hamilton is the home of entertainment in the heart of Hamilton. With 20 tenpin bowling lanes, an exciting mix of restaurants and bars, a casino, live entertainment, conference and event spaces for hire plus plenty of on-site parking, there is something for everyone. R20 for entry to the casino.
Relax and recharge
Just a short walk from the airport, JetPark Hamilton Airport Hotel and Conference Centre is a welcoming stop along your journey. Family-owned and Kiwi-operated, it offers a comfortable and relaxed atmosphere. Enjoy art-filled spaces, fresh seasonal dishes made with local ingredients, and the convenience of complimentary parking and Wi-Fi. Whether you're in town for a meeting, a break between flights, or a peaceful overnight stay, the hotel’s modern facilities and friendly atmosphere ensure a comfortable stay. Let JetPark be a simple, memorable part of your travels. JETPARKHAMILTON.CO.NZ
Boosting business
A new company to the Bay is ready to help distressed businesses turn things around.
A new company to the Bay is ready to help distressed businesses "turn things around".
photo QUINN O’CONNELL
Martin Macdonald is under no illusions about his methods.
“It's a prick of a process to go through,” he admits. “But then, when we’re done, the business is often saved, the people retain their jobs, and it's all going well. That's a fantastic feeling. There’s nothing better in life than doing this.”
Martin is CEO of Whiterock, a business advisory firm that specialises in helping medium and large-sized companies with annual turnovers in the millions navigate out of any tough financial waters they may have drifted into. In corporate lingo, they’re called a ‘distressed business’.
“But distressed businesses or turnarounds don’t necessarily mean failing or at death’s door,” Martin explains. “You can have a business that’s turning over $5 million a year but it’s not making any profit. That’s partially distressed as opposed to heavily distressed.”
Martin, who has over two decades of expertise in the field, likens it to a business losing steam. His job is to go in, identify the problems and come up with a plan to turn things around. Once called in, he’ll go through the business with a fine-toothed comb, talk to its people and also survey the outside world in which the company operates, all to get a thorough understanding of the bigger picture.
“I get a feel for all the different parts of the business and then I report back,” Martin says, before acknowledging that this initial meeting can sometimes be a little awkward.
“It’s a bit like a doctor telling somebody what they need to hear,” he says. “Often, it’s not what they want to hear. But it is what they need to hear.”
This process of stabilising or recovery and on to growth usually involves tough decisions, which are challenging to confront.
“I'm often dealing with the owners of a business. They’ve built it up from scratch and they're very passionate,” Martin says. “So I don't just go in, give turnaround advice and then leave.”
Instead, his approach is hands-on and sees him overseeing the implementation of the recovery plan over a three-to-six-month period. To do this he calls in a large network of specialist contracts, eg HR, health and safety, marketing, etc.
“It can take time,” he says. “But time is an interesting thing. Sometimes you don't have much time, and sometimes you do."
To that end, the best time for a business to get in touch is as it's approaching the cliff, rather than in the precious few seconds before falling off. For example, Whiterock is currently helping a company with a turnover of $220 million return to profitability.
“New Zealand is a country full of medium and large businesses,” Martin says. “And many need a hand. I'm ready to help.”