Woman Buys First Home at 50 in New Zealand's Matua

Jen Browning thought her house hunting would mean settling for whatever she could afford. Instead, the 50-year-old just bought a two-bedroom home with ocean views in Matua, one of Tauranga's most desirable coastal suburbs.

After her divorce, Browning faced starting over financially in New Zealand's second most expensive city for property. She saved a 20% deposit through KiwiSaver, a small inheritance, and personal savings, then started her search three months ago.

The timing worked in her favor. Tauranga house prices remain 15% below their 2022 peak, creating opportunities for first-time buyers who now make up 22% of all purchasers in the city.

Browning offered $700,000 for the house in a suburb where the median price sits at $935,000. Other buyers made higher offers, but sellers chose her because she had no property to sell first, making the deal simpler and faster.

"They asked me to increase my offer as they had multi-offers, one considerably higher, but the others were in a chain," Browning said. "I said no, that's it, take it or leave it. And they said okay."

Her lawyer discovered required work on the property title and negotiated an $8,000 price reduction. The South African immigrant, now a New Zealand citizen of nine years, secured her mortgage with a stable job and multiple bank approvals.

Why This Inspires

Browning's success shows that traditional homeownership timelines are changing across New Zealand. The average age of first-time buyers has climbed to 37 in Auckland, 36 in Wellington, and 35 in Christchurch, each two to three years older than in 2019.

Financial adviser Claire Williamson says securing mortgages after 50 is "very normal now." Banks focus on income stability and consider factors like rental income, multi-generational support, and reliable income streams through retirement.

"The most crucial factor for banks when assessing older applicants is income stability," Williamson explained. She recently helped a woman in her 50s secure a 25-year mortgage term.

Browning spent her first weekend stripping wallpaper and plans to update the kitchen eventually. She's learning to repair gutters and redo decking, happy to get her hands dirty in her own space.

"I never thought I would be able to buy a house in a top suburb with water and mountain views," she said. After months of uncertainty, Browning found her happy place just minutes from work and shops in a standalone home she can make her own.