Buying A Home NZ

Making a move on the property market can be a great opportunity, but it isn’t exactly a walk in the park.

With complex documentation, a fluctuating market, and your personal priorities, it’s important to remember that buying a home is a major financial commitment and can have impacts on your financial health for decades to come.

Buying a home in New Zealand is an excellent opportunity to own your very own slice of heaven. A realistic and affordable shift up the property ownership ladder could help you budget, save, and make strides towards your pie-in-the-sky dream home. Let MyFuture help you get there.

Whether you’ve been dabbling in the market for a while or you’re just contemplating making the move to owning your first home, there are important factors to take into account that can make or break your decision. That’s why you need a team that puts your priorities first and can help you every step of the way.

Buying A Home In New Zealand

Buying a home really is exhilarating, but it can also be extremely stressful. Real estate and mortgages can be a minefield of jargon and legal requirements. The financial aspects at play for home buyers don’t end with the price of the house. Other important expenses to keep in mind will include your deposit, your mortgage, insurance, inspections, possible repairs, and legal fees.

When you work with the MyFuture team, we minimise the stress of buying a home so you can spend more time enjoying the process. Get in touch with us today for your FREE no obligation Discovery Session to move another rung up the property ladder.

What Do I Need To Know About Buying A Home In New Zealand?

Buying a house is likely to be one of the biggest decisions you’ll ever make because it will probably be the most expensive thing you’ll ever purchase! There’s no way to make this decision lightly because it will take time and planning. Beyond expected monthly payments, you’ll need to have a savings plan for a down payment and other ancillary expenses.

When you’re ready to take the leap, the experts at MyFuture are ready to discuss your financial health and guide you through the process wherever you stand. We have worked with countless home buyers to optimise their assets and income and ensure they come into the process with eyes wide open.

Get Ahead With Quality Financial Advice

Our Qualified Financial Advisers can help you to move up the property ladder with a tailored financial plan and proven financial expertise.

Buyers Checklist

Financial Adviser

The MyFuture team of Qualified Financial Advisers will work with you to create a financial plan including budgeting, saving and affordability to get you from start to finish. We can work closely with either the bank, or a trusted mortgage adviser to help you make the most of your finances.


Once you’ve figured out how much you need for a deposit, you’ll need a budget to help you save for a house.


Saving money is no easy feat when the cost of living is rising so fast. That’s why you need a savings plan that can protect your assets and maintain or grow their spending power.


Your monthly income minus expenses determine what payments you can realistically make and, ultimately, how much house you can afford.

Mortgage Adviser

A mortgage adviser can tell you how much you can borrow so you know the price range of homes to consider. They will look at your income, assets, liabilities, and available cash to make sure everything is in order.

Mortgage Broker

With the help of a mortgage broker, you can shop around to find the best mortgage and repayment plan for you. Our Qualified Financial Advisers will do the negotiating so you don’t have to and present you with a multitude of options depending on your financial situation.

Mortgage pre-approval

Once you are happy with your mortgage proposal, a mortgage lender will run a credit check to see if, in principle, you’ll be loaned the money. A mortgage pre-approval can give you an advantage over another buyer when making an offer.

Home search

Both web-based and in person real estate services, or a mix of the two, can help you find the home you’re looking for. Consider location, size, amenities, community, condition, and value when searching for properties. If you’re considering making an offer, it’s worth doing a proper inspection.

Make an offer

Making an offer on a home can be nerve-wracking. Having doubts about whether it’s too low or too high are expected, which is why it may be a good idea to work with a real estate professional. At MyFuture, we have the experience and qualifications to provide you with reassurance that you’re making the right choice. Offers can be conditional based on the results of inspections, valuation, and other legal reports or they can be unconditional meaning you’ll take the house as-is.

Apply for mortgage

If your offer is accepted, congratulations are in order! Both you and the seller will sign a contract agreeing to terms of transfer.

You then need to formally apply for a mortgage, if not done so already, so at least confirm finance with the lender. An agreement in principle should speed up the application process. At this point, your mortgage lender will likely send out a surveyor to do a valuation of the property and make sure you’re getting what you’re paying for. Valuation and inspection may also highlight if there are any issues with the house – usually you are required to pay for these valuations and inspections, but, if necessary, this cost can be added to your total amount borrowed.


The legal agreement once a Sale and Purchase Agreement has been signed include a number of important steps:

  • An initial deposit is held in trust until the settlement is finalised
  • Finalise details with your bank or lender
  • Contact a solicitor to represent your interests
  • Reviewing any contracts
  • Complete and review any inspections or property reports
  • Arrange for transfer or setup of utilities and home services
  • Transfer the agreed upon amount of the sale
  • Get your keys and move in!

How Much Deposit Will You Need For A Home In NZ?

The property market in New Zealand is constantly in flux. With recent spikes in house prices, there are opportunities to borrow from your bank with as little as a 5-10% deposit. 

However, the lower the deposit, the more risk there is to both the borrower and lender. If you take out a mortgage for more than 80% of the property’s value, you’ll likely have higher fees and payments to cover the higher risk that the lender faces in case you default. Use our home loan calculator today to get a better idea of how much you can afford and how much your repayments will be.

To reduce this risk, lenders typically require a minimum deposit of at least 20% of the full house price. If the house is worth $700,000 you would need a deposit of at least $140,000.

Wherever you are in the home buying process, MyFuture is here to help you make the most of your resources and get you into your home. Reach out today for a FREE no obligation Discovery Session with our real estate and finance professionals.

When Can You Remortgage?

Refinancing a mortgage, or remortgaging a home, is an option for any property owner with a mortgage loan. Depending on the conditions in your mortgage contract, you may be able to do it at any time, or you may be limited by penalties as to when you’re able to do it.

Depending on the penalties, it may still be your best option to refinance your mortgage right away. Knowing when to remortgage is a complicated decision, so your best bet is getting professional support from a Qualified Financial Adviser.