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 can be tricky. Avoid common pitfalls by setting a clear budget to focus your search and preparing your financial documents early. Shop around for the best mortgage, considering both banks and mortgage brokers.
Boost your deposit using schemes like the KiwiSaver First Home Withdrawal and Kāinga Ora's First Home Loan.
Finally, protect your investment by hiring a property lawyer and always getting an independent builder's report to avoid costly surprises down the track.
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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