Buying guide
7 first home buyer mistakes that could cost you thousands (and how to avoid them)
What are some common mistakes made by first home buyers? Find out how to avoid them and get ready to buy your first home
AI summary
Buying your first home in New Zealand involves avoiding common pitfalls. Start by setting a clear budget to focus your search and preparing your financial documents for a smooth mortgage application.
Explore all options to secure the best home loan, including using a mortgage broker. You can also boost your deposit with schemes like the KiwiSaver First Home Withdrawal and Kāinga Ora's First Home Loan.
Finally, always perform due diligence by hiring a property lawyer and getting an independent builder’s report.
1. Not Knowing Your Budget
It's important to know your budget when hunting for your first home.
2. Not checking your credit score
4. Not Shopping Around for Your Mortgage
5. Not Using Schemes to Boost Your Deposit
6. Not Hiring a Good Property Lawyer
7. Not Getting a Builder’s Report
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