Home Buyers Guide

You may be buying your first home, moving closer to family or looking for a different pace of life. Start with what you need from the home and the neighbourhood, then work through the practical steps at a pace that lets you make informed decisions.

Our local team can help you compare areas, arrange viewings and understand how a property is being sold. Your lender, lawyer and building inspector provide the independent advice you need along the way.

1. Research

Think about an ordinary week in your new home: the school or work journey, places you like to spend time and the rooms and outdoor spaces you will use. Our local area guides can help you compare beach, harbour, village and lifestyle settings.

What are Your Non-Negotiables?

Before you even turn to Google, sit down and write out your property deal-breakers. Consider questions like:

• In which suburbs would you most like to live?
• Are local schools a consideration?
• What is the proximity to shops, sports facilities, cafes, and restaurants?
• What are the dream features of your home?
• How many bedrooms do you need? Do you need a garage?
• Do your desirables fall within your budget?

Once you’ve decided on the non-negotiables, it will be much easier to narrow down your search parameters, giving you a good list to start your hunt.

2. Inspections

Use each viewing to compare the home, the street and the practical features that matter to you. Keep a separate note for each property, including its address, viewing date, questions and follow-up answers.

Your open-home checklist

• Check the layout, storage, parking, sun and access against your needs.
• Look for visible moisture marks, mould, damaged surfaces or uneven floors. Record concerns for a qualified inspector; appearances alone do not establish their cause.
• With permission, check doors, windows, taps and fixtures. Confirm which chattels are included.
• Look at the exterior, roof from ground level, gutters, drainage and fences.
• Ask about alterations, available consent records, services and known property issues.
• For coastal or lifestyle property, ask about water supply, wastewater, access and maintenance. Check property-specific hazard information and insurance availability.
• List unresolved questions and obtain advice before committing.

Before you make an offer

A viewing is not a professional building inspection. Arrange independent checks appropriate to the property. Ask your lawyer or conveyancer to review the title, LIM, council records and proposed agreement, and discuss any conditions you need. For a section, confirm the investigations needed for your intended build.

Use the Settled open-home checklist, its property research guidance and MBIE’s home-buying checks.

3. Finance

Buying a house is a major investment, and it’s important to make sure your finances are in order before starting the process. Once you have an understanding of the market, the next step is to start thinking about how you’re going to pay for it.

How Much Does it Cost to Buy Property?

• Deposit: Discuss deposit requirements, borrowing capacity and any assistance with your lender or mortgage adviser. Eligibility and lending criteria vary.
• Other Costs: Property inspection reports are not compulsory, but it’s a good idea to get a house inspection to uncover any likelihood of hidden costs.

Four Steps to Securing Your Home Loan

1. Set your goal: Once you know the type of property you want and its likely cost, set a target for saving a deposit.
2. Talk to a broker: It’s worth speaking with a broker before you start actively looking for a property. They can help you understand potential borrowing, costs and lender requirements.
3. Get the green light: You’re in a stronger position with a pre-approval from a lender to spend up to a certain amount. Ask your lender how long its approval lasts, which conditions apply and what needs to be confirmed for a specific property.
4. Prepare for an offer: Have your lawyer and lender involved before you commit, and confirm the deposit, finance conditions and timing for the property.

First-home buyer resources

Start with Settled’s first-home buyer guidance and the New Zealand Government’s home-buying resources. Check the current rules for any financial assistance and confirm your eligibility with the relevant provider. Allow for legal advice, inspections, insurance, moving and ongoing ownership costs as well as the deposit.

4. Buying

Once you are satisfied that there are no major problems with your chosen property and it meets all your non-negotiable requirements, the next exciting step is to think about the buying process.

Auctions

An auction is one way to buy a property. Because a successful bid normally creates an unconditional purchase, complete your property checks, legal review and finance arrangements beforehand. Our auction guide explains the process.

Preparation

• Attend as many auctions as possible to understand how they work and observe bidding behaviour.
• Take note of the recently sold prices in your area to know what price range to expect.
• Have your lawyer review the auction documents and confirm the terms, deposit and settlement arrangements before bidding.

Bidding

• It’s important to set yourself some limits and goals, as it can be easy to get caught up in the moment when the auction is in full swing.
• Decide your maximum price in advance and stay within it.
• Make sure you understand the auctioneer and ask for clarification if you need it.

Other Ways to Buy a House

It’s not all about auctions; there are other ways to buy a house. These include:

• Advertised price or negotiation: A property may be marketed with an asking price or by negotiation, with the buyer and seller negotiating through the written offer process.
• Expressions of interest: A formal written offer is submitted for the property by a specific date.
• Tender: A method of buying a property through private and confidential offers made by a set deadline.
• Make a pre-auction offer: If you’re unwilling to wait, you can make an offer to the seller to see if they’d accept it.

5. Moving

The big day has arrived. All the paperwork has gone through and you have the keys in your hand. Moving into your new home should be the exciting part. A little preparation can make moving day easier.

Pre-Move

• Throw away, recycle, or donate all your unwanted items in advance.
• Book the removal company and boxes in advance.
• Make a note of all the mail you get and gradually change your address.
• Pack and label your boxes by room.
• Pack a box or suitcase of items you’ll need for the first night.

On the Day

• Have plenty of water and snacks throughout the day.
• Keep some cash handy for unexpected items like taxis and pizza.

Post-Move

• Organise the collection of used boxes.
• Book the cleaner for the day after moving.