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 overwhelming, but avoiding common pitfalls is key. Start by setting a clear budget and exploring mortgage options with a mortgage broker or your bank to find the best deal.
Boost your deposit using schemes like the KiwiSaver First Home Withdrawal or Kāinga Ora's First Home Loan. For due diligence, always hire a property lawyer for legal checks and get an independent builder's report to uncover hidden issues, ensuring you make a confident, informed purchase.
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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