Assembling a team of professionals can make your home-buying experience smoother and more efficient.

Mortgage Adviser (Broker): Provides expert advice, helps you choose a lender, organizes pre-approval, and ensures your loan is finalized once you’ve bought your home.

Conveyancing Lawyer: Checks the property title, looks for pitfalls, and ensures the transaction completes successfully on settlement day.

Insurance Adviser: Confirms the property is insurable, a requirement by your home loan provider.

Registered Valuer: Assesses the property's current market value, often a home loan requirement.

Building Inspector: Evaluates the property's condition and identifies any potential risks.

Family and Friends: Offer support, advice, and may assist with your deposit or act as guarantors.

Your deposit is a crucial component in purchasing a home, typically around 20% of the property's value.

KiwiSaver Withdrawal: If you’ve been with KiwiSaver for at least three years, you may be able to withdraw most of your funds to put towards your first home.

First Home Grant: Eligible KiwiSaver members contributing the minimum amount for three years or more might receive a grant to boost their deposit.

Parental Contributions: Family can assist through direct financial gifts, acting as guarantors, or leveraging their property as equity.

Kāinga Ora First Home Loans: Designed to help individuals with a low deposit into their first home, offering loans with as little as a 5% deposit.

Understanding your budget and borrowing capacity is essential before exploring properties.

Analyze Spending Habits: Review your monthly expenses to identify savings opportunities and ensure you can manage mortgage repayments.

Borrowing Power Calculator: Utilize online tools to estimate how much you can borrow based on your financial situation.

Mortgage Repayments Calculator: Determine potential repayment amounts to assess affordability.

Securing pre-approval enhances your credibility as a buyer and clarifies your budget.

Definition: Pre-approval is a lender's conditional agreement to lend you a specified amount, typically valid for 90 days.

Process Duration: Generally takes 5-7 working days, but can extend up to two weeks during peak times.

Required Documents: Includes proof of income, a detailed budget, list of debts, evidence of deposit, identification, and property information.

Define Your Needs: List essential and desirable features for your home, such as size, location, and amenities.

Research the Market: Use online platforms to explore available properties within your budget and preferred areas.

Attend Open Homes: Visit properties to assess their suitability and condition firsthand.

Before making an offer, ensure you have comprehensive information about the property.

Building Inspection: Hire a professional to assess the property's condition and identify any structural issues.

LIM Report: Obtain a Land Information Memorandum from the local council to check for any potential issues or restrictions.

Title Search: Have your lawyer review the property's title to uncover any legal encumbrances or easements.

Understand the Sale Method: Whether it's by negotiation, auction, or tender, know the process involved.

Prepare a Sale and Purchase Agreement: Work with your lawyer to draft an offer, including any conditions like finance or inspections.

Negotiate Terms: Be prepared to discuss and agree on the price and conditions with the seller.

Unconditional Agreement: Once all conditions are met, the agreement becomes unconditional.

Arrange Insurance: Secure house insurance, as it's a requirement before settlement.

Prepare for Settlement: Your lawyer will manage the transfer of funds and ownership on the settlement day.

Final Inspection: Conduct a pre-settlement inspection to ensure the property is in the agreed condition.

Complete Settlement: On the agreed date, ownership transfers to you, and you receive the keys to your new home.

Move In: Arrange your move and start enjoying your new property.