You’re probably keen to buy a home for several reasons. You might be sick of paying someone else’s mortgage, you might want to put down roots so you don’t have to move for a while, or you might be looking for a safe and secure home for yourself or your whanau. Whatever your reason, here are some tips that will help you get started on your journey:
You’ve dreamed of buying a home for some time. You’ve thought about it, talked it over with friends and family, and may have received some professional advice about it. Your conclusion is that buying could be possible. Now you’re in investigation mode. You want to know what you can buy, where you can buy it and for what price.
Here are some links and information that will help you in this phase.
You’re getting closer to knowing where you want to live and what type of property you can buy. You may have even spoken to a real estate agent and attended some open homes, and you have an indication of how much the bank is willing to lend you. You can now get fully prepared to buy. This mostly includes making pre-applications and applications for loans and for government grants and schemes that may be available to you.
If you’re unsure of how or if the government can help you to buy a home, please check the Investigating phase above to find out more.
For more information on what you can do to make things easier in this phase, please see below:
First Home Partner - If you are interested in the Kāinga Ora First Home Partner scheme, you will first need to check your eligibility. You can do this here. Once you have confirmed your eligibility, you will need to gather your documents together (things like photo ID, proof of income and bank statements) then you are ready to apply. You can submit your application by creating an account in the Kāinga Ora Portal which you will find here.
For further information on First Home Partner please go to the First Home Partner information page on the Kāinga Ora website.
You have your finances, grants and schemes organised and pre-approved or you may even be fully approved. You know how much you can spend, what type of deposit you have and what type of home you can afford. You may have secured a First Home Loan and a First Home Grant and you may be using your KiwiSaver funds as part of the deposit to buy your home. If you’re looking at KiwiBuild, you may have been to some open homes and spoken to the builder or developer that is responsible for building them. This is the phase where your journey starts to get exciting.
Here is some more information about the home search phase and where you can go for more information:
You’re coming to the end of the home buying journey. It’s time to finalise your home purchase and move in. Remember, now that you’re a homeowner you have new expenses to think about such as rates, insurance and your mortgage.
Here are a few ideas on how to make the move to being a homeowner easier.