Embarking on the journey towards your first home is both exciting and a bit overwhelming. With numerous deadlines, inspections, and an avalanche of information, it can quickly become stressful if you’re navigating it solo. The secret? Assemble a team of seasoned professionals who handle these processes every day.

At the very least, you’ll need a competent Mortgage Adviser (Mortgage Broker) and a Solicitor.

Here’s how I support First Home Buyers: I start by demystifying the process for them, clarifying how home finance works. From explaining the intricacies of KiwiSaver and the First Home Grant to assisting with applications, I ensure you’re fully prepared. By the time you’ve found your dream home, you’ll be in the strongest position to make an offer.

Curious about the difference between working with a Mortgage Adviser and going directly to a bank? I’ve covered this topic in detail here.

Considering a Buyer’s Agent

In today’s market, where many properties are sold through Deadline Sale, Auction, or have no listed price, determining if a house fits within your budget can be challenging. This is where a Buyer’s Agent can be invaluable. Their service is free, and they can streamline the search for you, presenting a curated list of properties within your budget. They’re also often privy to listings before they hit the market, giving you that early bird advantage.

When you’re ready to make an offer, a Buyer’s Agent can guide you through the process and what to include in the Sale and Purchase agreement. If you think a Buyer’s Agent could be beneficial, I’m happy to recommend one.

Planning for Additional Costs

It’s tempting to allocate your entire deposit towards the purchase price, but remember to budget for additional costs to avoid any surprises on settlement day. It’s important to note that banks’ contributions towards legal fees are paid after settlement, and many costs will accrue beforehand.

Some of these costs include:

• Solicitor Fees
• Council LIM and Title Searches
• Mortgage Registration
• Property Valuation
• Building Inspections

This list isn’t exhaustive, and a good adviser will outline potential expenses you might face.

When obtaining quotes for services, clarify what the quote includes. Some solicitors provide a fee-only quote, adding other charges later, while others offer a comprehensive quote covering all expected costs.