Buying a home is a dream of many Kiwis. It always has been, and always will be – even if it is perceived that it is now more difficult than ever.
With the fact that this is a large step for anyone, there is no such thing as being too careful.
Where do I start?
When you are looking at purchasing a home, there are key components you should have to ensure you are prepared appropriately.
For the most part, number 1 and 2 will assist you in getting bank approval, assuming everything else is on track (e.g. clean account
history, and stability in employment/living situation – all of which then will relate to what is referred to as ‘Character’ by a bank).
Number 3 will assist in ensuring you have prepared for the worst, and is a means of caution amongst unchartered territory known as your
How does our government help?
Changes in mid-late 2016 to the Kiwisaver HomeStart Scheme meant that it was made easier to attain an owner occupied property, these are split by property type, region, and income threshold.
While in the Auckland market historically the difficulty has been meeting the deposit requirement whilst saving and chasing house prices, it is evident that the combination of the above additional grants and also the fact that it seems the Auckland market has levelled off temporarily, that this dream could become a reality for more Kiwis.
How can we help?
The next step is assessing borrowing capacity, by way of applying for loan approval. Once you have crossed this step, you are then in a position to start hunting for your first home!
Being a first-home buyer can be stressful and confusing, but we can definitely assist in making the process simpler, that way you can spend
your time on things more worthwhile, like finding the perfect home!
Click here to download our FREE ebook giving more detailed advice for First Home Buyers.