What should I do before house hunting for a first home purchase in Auckland?

Before you start looking at homes for your first home purchase in Auckland, get a clear picture of what you can realistically borrow. Doing this early means you can search with confidence and move quickly when you find a place you love.

Why the search often starts too early

One thing I often see with first home buyers is that the property search begins before they have had a chance to understand their borrowing power. It is completely understandable. Looking at homes is the exciting part, and open homes are easy to fall into on a Saturday.

The trouble is that you can fall for a house that sits outside your budget, or feel rushed when the right one appears. Spending a little time on the numbers first takes a lot of that pressure away.

What getting mortgage ready means

Getting your finances organised early makes the whole buying process much smoother, particularly when you find a property you really like. In practice, I like to look at a few things with you first:

• Your deposit: how much you have saved, including any KiwiSaver you may be able to use.
• Your income and spending: what comes in, what goes out, and how a lender is likely to view it.
• Your debts and commitments: things like credit cards, car finance and buy now pay later accounts.
• Your options: including schemes such as the Kainga Ora First Home Loan, if you may be eligible. [CHECK: current eligibility criteria and caps]

How this helps when you find the right home

When you already know your budget, you can make decisions calmly. You know which properties are worth your time, and you are not scrambling to organise finance after you have already fallen for a house.

For buyers in Westgate, Massey, Hobsonville, Henderson, Kumeu and the wider West Auckland area, this preparation also helps you compare suburbs more honestly against what you can afford.

How I can help

I moved into mortgage advice in 2020 after 25 years in international logistics, and I work with a small team here in Westgate. I work with a wide panel of New Zealand banks and lenders, so we can look at more than one option. I am paid by the lenders when your loan settles, and I will give you that disclosure before I give any advice.

If you are thinking about your first home purchase, you are welcome to get in touch or call me on 021 638 464. It is much easier to have the conversation before you start house hunting than after.

Frequently asked questions

When should I talk to a mortgage adviser about my first home?

Ideally before you start looking at properties seriously. That way you know what you can borrow and what your deposit position is before you commit emotionally to a home.

Can I use KiwiSaver for my first home purchase?

Many first home buyers can use some of their KiwiSaver towards a deposit, subject to the rules. [CHECK: confirm current KiwiSaver withdrawal rules] I can talk you through how it might apply to you.

Does it cost anything to speak with you?

I am paid by lenders on settlement, and I give you disclosure before I provide any advice, so you know how it works from the start.

This is general information, not personalised financial advice. For advice specific to your situation, please contact Kyle.