Step 1: Get Financially Ready

Step 2: Explore Mortgage & Loan Options

Step 3: Start Your Property Search

Step 4: Do Your Due Diligence

Step 5: Making an Offer

Step 6: Completing the purchase

Step 7: You’re a Homeowner!

Plus: 

• Your home-buying checklist

• What most people underestimate (post-offer)

Pre-approval is your green light. It shows agents and sellers that you’re a serious buyer and gives you a clear idea of your price range. You can apply for pre-approval directly through a bank or work with a mortgage adviser.

For a quick estimate of what your repayments might look like, try our mortgage calculator.

We’ve also put together a helpful guide to walk you through mortgages and interest rates in New Zealand so you can feel confident navigating your options.

Tip: Don’t just focus on the interest rate - the structure of your loan and its flexibility can make a big difference in the long run.

Now for the fun part! Start by defining your must-haves vs nice-to-haves, then dive into your property search.

Tips:

• Use saved searches and add properties to your watchlist on Trade Me Property
• Visit open homes and don’t be shy about asking questions
• Check school zones, commute times, and the general vibe of the neighbourhood

This is also a great time to engage a property lawyer. Having a professional on your side ensures everything is done by the book. Ask friends or whānau for recommendations, talk to your mortgage adviser, or visit the New Zealand Law Society to find a lawyer who suits your needs.

Hooray - you’ve found a place you love! Now it’s time for some good old-fashioned due diligence, to make sure it’s as good as it looks.

What to organise:

• A LIM report from the council (this covers zoning, drainage, hazards etc.)
• A builder’s report from a qualified, independent inspector
• Legal review of the Sale & Purchase Agreement by your property lawyer

Tip: Even if the seller provides reports, it’s worth getting your own. Independent advice gives you peace of mind and protects your investment.

Once you’ve found the right place, it’s time to make an offer, but how you do that will depend on the type of sale. Here are the main ones to know:

• Auction: Bidding happens live, and if you win, the sale is unconditional, so you’ll need to have finance and checks sorted beforehand.
• Deadline Sale or Tender: You submit your best offer by a set date. You can usually include conditions, but you won’t see what others are offering.
• By Negotiation: You work directly with the agent to make an offer and negotiate terms. This is the most flexible option, especially for first-home buyers.

For a step-by-step on structuring your actual offer, see our guide to making an offer on a house in NZ.

Once your offer is accepted, you’ll go “under contract”, but you’re not quite done yet!

You’ll need to:

• Satisfy any conditions and go unconditional (e.g. confirm finance, complete inspections)
• Pay your deposit (usually 10% of the purchase price)
• Prepare for settlement day, the exciting moment when the keys officially become yours

Tip: Organise insurance, power, internet and movers ahead of time to make the transition smooth.

The keys are in your hand and your new chapter begins.

Whether you’re diving into a renovation, picking paint colours, or simply soaking up the joy of having a place to call your own, take a moment to appreciate the milestone.

Check out our handy moving house checklist ahead of the big move, and our guides to settling in - home insurance, council rates and the other bills you'll need to budget for - for what comes next.

Steps 5 and 6 above cover the shape of this stage, but a few things reliably catch first-home buyers off guard. Worth reading before you're in the thick of it:

• Two separate "unconditional" moments. Going unconditional with the seller isn't the same as clearing every condition with the bank: you can be locked into the purchase while bank conditions (like closing a credit card, or a new build's Code Compliance Certificate) are still being worked through.

• KiwiSaver withdrawals take longer than you'd think. Budget at least 10 working days for your provider to release funds to your solicitor once the sale and purchase agreement is signed. Apply as early as you can.

• You'll need to decide your mortgage structure (fixed, floating, or split, and over what term), usually with more options than expected. Talk this through properly with your adviser rather than defaulting to whatever the bank suggests first.

• Buying with a partner or anyone else? Consider a relationship property agreement, especially if you're contributing unequal amounts to the deposit. Not the most romantic conversation, but a protective one.

• Pre-settlement inspection is your last checkpoint: a final walkthrough to confirm the property is as you last saw it (no new damage, all chattels still present) before the keys change hands.

• Home and contents insurance has to be in place before settlement: your bank won't lend against an uninsured property, and the cover needs to be enough to rebuild, not just the purchase price.

• It's worth thinking about life or income protection insurance too: who covers the mortgage if you or your partner can't work? Your mortgage adviser can usually refer you to someone if you need it.

Use this as a running checklist through the process. A few steps differ if you're buying an existing home vs. a new build - flagged below.

Getting started

☐ Get an 'eligibility to withdraw' letter from your KiwiSaver provider

☐ Engage a mortgage adviser and get pre-approval from a bank

☐ Find a solicitor/lawyer

House hunting

☐ Find a house that you like

☐ Solicitor carries out due diligence on the sale and purchase agreement, title and LIM report

☐ Get a building report from a registered builder

☐ New build: do developer due diligence — completed projects, reviews, a show home if possible

☐ New build: check the completion date, sunset clause, and building specifications (materials, cladding, chattels)

Going unconditional

☐ Meet the finance conditions of your offer and get security approval from the bank

☐ Pay your initial deposit

☐ Open a bank account with the bank giving you the mortgage

☐ Give notice to your landlord if you're renting

Before you settle

☐ Confirm the structure of your mortgage (interest rate, cashback, etc.)

☐ Solicitor applies to withdraw your KiwiSaver funds

☐ Arrange home insurance and personal insurance

☐ Sign loan documents with your solicitor

☐ Transfer other deposit funds to your solicitor

☐ Arrange utilities (phone, internet, power)

☐ Organise a moving company or a few willing friends

☐ Conduct your pre-settlement inspection

After you settle

☐ Collect your keys - you're a homeowner!

There’s no perfect way to buy your first home, and that’s okay. Everyone’s journey looks a little different. But with good advice, the right professionals, and a bit of patience, you’ll get there.

Stay curious. Ask questions. And don’t be afraid to take the next step.