Buying guide
8 hidden costs of buying a house in NZ
Read this and buy with your eyes (and your wallet) open
AI summary
Buying a house in NZ involves significant costs beyond the purchase price. It's crucial to budget for these extras, which arise during different stages of the buying journey.
Key costs include:
- Due diligence: Building inspections (from $400) and LIM reports.
- Purchase: Lawyer's fees ($800+), mortgage fees, and house insurance.
- Post-purchase: Moving expenses and funds for immediate repairs.
Be aware of potential low equity margins if your deposit is under 20%, which increases your interest rate.
Extra costs to consider when buying a house
House hunting
There may be additional costs for buying an apartment.
Purchase costs
Moving isn't free!
Moving in
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