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 involves avoiding common pitfalls. Start by setting a clear budget and preparing your financial documents. Explore all mortgage options by comparing banks or using a mortgage broker to find the best deal.
Boost your deposit with schemes like the KiwiSaver First Home Withdrawal and the First Home Loan underwritten by Kāinga Ora.
Finally, protect your purchase by hiring a property lawyer for legal oversight and getting an independent builder's report to uncover any hidden issues.
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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