Buying guide

Doing your homework before buying a home

When you’ve found the property you want to buy, don't forget the details. Here are some tips from Settled.govt.nz

AI summary

Before buying a home, conduct thorough research. Get your lawyer to check the record of title for any restrictions and order a Land Information Memorandum (LIM) from the council to review consents, zoning, and potential hazards.

For an accurate market value, hire a registered valuer. If buying a unit title, carefully review all body corporate documents, including the pre-contract disclosure statement. Always seek professional legal advice to understand all reports before making an offer.

Summary of important things to know

Title search

Local council files

Council information
Options	You need to know
Not reviewing any council information about the property	Not reviewing any council information about the property	This is a cheap short-term option that will save you time.But, you won’t learn important information about the property.	This is a cheap short-term option that will save you time.But, you won’t learn important information about the property.
Obtain a Land Information Memorandum (LIM)	Obtain a Land Information Memorandum (LIM)	There is a cost for this.The LIM contains important information about the property. It does not include any building plans submitted to the council for consent.We recommend reviewing the council’s property information along with the LIM.	There is a cost for this.The LIM contains important information about the property. It does not include any building plans submitted to the council for consent.We recommend reviewing the council’s property information along with the LIM.
Review the council’s property information	Review the council’s property information	There may not be a cost for this.You may need to go into the council office to look at this information, and there may be a charge for copying it.Some councils make this information available online.If you visit the council office, you may be able to discuss the property information with someone at the council.We recommend reviewing the LIM report along with the council’s property information.	There may not be a cost for this.You may need to go into the council office to look at this information, and there may be a charge for copying it.Some councils make this information available online.If you visit the council office, you may be able to discuss the property information with someone at the council.We recommend reviewing the LIM report along with the council’s property information.
Ask your lawyer or conveyancer to review the LIM and council property information	Ask your lawyer or conveyancer to review the LIM and council property information	There is a cost for this.Lawyers and conveyancers are familiar with these documents and may see things you could miss.The lawyer or conveyancer is unlikely to visit the property, so it is still important that you inspect the plans and council consent records to check if anything has been added to the property that hasn’t been consented by the council.	There is a cost for this.Lawyers and conveyancers are familiar with these documents and may see things you could miss.The lawyer or conveyancer is unlikely to visit the property, so it is still important that you inspect the plans and council consent records to check if anything has been added to the property that hasn’t been consented by the council.