8 hidden costs of buying a house in NZ

Buying a house in NZ involves significant costs beyond the sale price. Budget for crucial due diligence expenses like building inspections (from $400) and LIM reports before making an offer.

During the purchase process, you will need to cover:

- Lawyer's fees ($800-$3,000+)

- Mandatory house insurance

- Potential mortgage fees and low equity margins for deposits under 20%

Finally, remember to factor in the costs of moving and any immediate repairs or improvements you plan to make.