How to Purchase a Home in New Zealand : Pre-approval, The First Steps, and Important Advice From a Mortgage Advisor With Andreas Wijaya. In this follow-up video, Andy Saputra returns with a special resource, Andreas Wijaya, a professional mortgage adviser, to discuss the ins and outs of buying a first home in New Zealand in detail. This video is the second part of the guide for first home buyers, this time discussing various important aspects, from the initial steps of looking for a home to the risks of buying a home off the plan.
When you move to a new country, purchasing a property can help you feel settled. This page outlines the key things you will need to know when buying a home in New Zealand.
How to Purchase a Home in New Zealand : Pre-approval, The First Steps, and Important Advice From a Mortgage Advisor With Andreas Wijaya
Generally, only residents and citizens can buy residential property in New Zealand, but there are some exceptions. Find out if you are eligible to buy property in New Zealand on the Immigration New Zealand government(external link) website.
Buying a property can be complicated, especially when you’re not familiar with the process and haven’t bought in New Zealand before.
In New Zealand, the process for buying a property depends on which method of sale is used. We have created a buyer journey guide that explains the process from thinking of buying to making an offer through to settlement day.
If you’re new to the property game or just need a little refresher, don’t worry. We’re here to guide you through the process of buying a home in New Zealand, step by step, so you can feel confident as you start on this exciting journey.
You will learn the first steps when starting to look for a home, including effective search strategies. Andreas also explains the crucial mortgage pre-approval process to ensure financial capability before making an offer. In addition, this video also discusses the importance of using a lawyer when buying a home, as well as important things to check when doing an open home or inspection to ensure the condition of the property is ideal.
For those of you who have found the right home, here we also discuss how to make an offer with the right strategy and an estimate of the lawyer’s fees that may be needed. This video provides an overview of the special benefits that first home buyers can get in New Zealand, how to get a first home loan, and details about taxes or additional costs that must be prepared when buying a home for the first time.
Don’t miss out, you will also get tips on the best time to buy a house, common mistakes that first home buyers often make, and effective strategies for saving deposits faster. Andreas also explains the importance of using a building inspector before buying a house, and the process of buying a house together with family or friends. This video also discusses the possibility of buying an investment house before a house, the option of buying a house without an auction or tender, and the risks of buying a house off the plan.
How to Purchase a Home in New Zealand : Pre-approval, The First Steps, and Important Advice From a Mortgage Advisor With Andreas Wijaya
Here’s what we’ll cover:
Step 1: Get Financially Ready
Step 2: Explore Mortgage & Loan Options
Step 3: Start Your Property Search
Step 4: Do Your Due Diligence
Step 5: Making an Offer
Step 6: Completing the purchase
Step 7: You’re a Homeowner!
When the seller accepts your offer, they will sign the sale and purchase agreement. At this point, the offer is legally binding and could be subject to legal action from the seller if you don’t buy the property. You are likely to pay the purchase deposit at this stage or when the agreement becomes unconditional, depending on what you and the seller have agreed.
There’s no perfect way to buy your first home and that’s okay. Everyone’s journey looks a little different. But with good advice, the right professionals, and a bit of patience, you’ll get there.