Buying your first home is an exciting milestone — but it can also feel overwhelming. With so many steps, financial decisions, and unfamiliar terms, it’s easy to get lost. The good news? You’re not alone. Every year, thousands of Kiwis take the leap into homeownership — and with the right tips and guidance, you can too.
In this article, we’ll walk you through some of the most important first home buyer tips tailored specifically for the New Zealand market.
1. Understand Your Budget Before You Browse
It’s tempting to scroll property listings and imagine your dream home. But before you fall in love with a house, it’s crucial to understand what you can actually afford.
Get a mortgage pre-approval to understand your borrowing limit based on your income, expenses, and deposit size. This will help you focus your search and avoid disappointment later.
2. Don’t Forget About Hidden Costs
Your deposit and loan aren’t the only expenses. First-home buyers in NZ also need to budget for:
- Legal fees
- LIM reports & building inspections
- Insurance
- Moving costs
- Rates & body corporate fees (if applicable)
These costs can add up quickly, so include them in your overall financial planning.
3. Explore Government Assistance Schemes
The New Zealand government offers several initiatives to help first home buyers, including:
- First Home Grant – If you’ve been contributing to KiwiSaver for 3+ years, you may qualify for a grant of up to $10,000.
- First Home Loan – Available through select lenders with just a 5% deposit.
- KiwiSaver First Home Withdrawal – You may be able to withdraw most of your KiwiSaver funds to use as a deposit.
Make sure to check the latest eligibility criteria and application steps.
4. Choose the Right Loan Structure
There are different types of home loans, such as fixed-rate, floating (variable) rate, or a mix of both. Choosing the right structure depends on:
- Your income stability
- How long you plan to live in the home
- Your risk tolerance
A mortgage advisor can help you understand which loan type suits your needs best.
5. Work With Trusted Experts
Buying a home isn’t a solo journey — you’ll need a team. Partnering with the right professionals can save you money, time, and stress.
- Mortgage Advisor: Helps secure the best loan for your situation.
- Real Estate Agent: Guides you through the home search and purchase.
- Solicitor: Manages contracts and legal checks.
- Builder/Inspector: Ensures the home is structurally sound.
Final Thoughts
Buying your first home in New Zealand is a big deal — and you deserve to feel confident every step of the way. Whether you’re just starting to save or actively house hunting, take the time to understand the process, get expert advice, and plan smartly.
At Secure Mortgage, we specialise in helping first-time buyers get on the property ladder with ease. From pre-approval to possession, we’re here for you.
