Buying your first home in Wellington can be a daunting task.
As a first-time buyer, you might not know where to start or what to expect.
We've spoken with many of our purchasers and put together these expert tips to help you navigate the home buying process like a pro.
1. Choose a Mortgage Broker Over a Bank
One of the biggest mistakes first home buyers make is going straight to the bank.
But many Kiwis aren't quite ready to buy a home yet. That's where a mortgage broker comes in. A broker can build a roadmap for you to follow towards home ownership and get you the best mortgage the market has to offer.
2. Check Your Kainga Ora Eligibility Early
The New Zealand government offers assistance to first home buyers through Kainga Ora, but many first home buyers aren't aware of what they offer. It's essential to check your eligibility early in the process, as a grant or partnership arrangement with Kainga Ora may influence the amount of deposit you need to purchase a home.
3. Don't Be Afraid to Pick up the Phone
Buying a home involves a lot of communication with real estate agents, mortgage brokers, lawyers, valuers, and more. But don't be afraid to pick up the phone and ask questions. It could mean the difference between you going unconditional or missing your deadline.
4. Consider Kitchen and Bathroom Quality
Many first-time buyers focus on the number of bedrooms and overall space of a property, but overlook the importance of the kitchen and bathroom.
These rooms are often the most used and can be expensive to renovate. Consider the quality, functionality, and size of the kitchen and bathroom in the property you're looking at.
Choosing a mortgage broker over the bank, checking your Kainga Ora eligibility early, picking up the phone and considering kitchen and bathroom quality will give you a better chance at getting into your first home.
Hi I’m Hausia,
I help first home buyers make better buying decisions.
If you want access to arguably the best off-the-plans mortgage advisor in Lower Hutt, click ‘contact us’ below or head straight to his website here.
If you have any questions about something you've read in the blog, email hausia@faisandier.group.