First Home Buyers Blog:
Understanding Low Equity Margins and Premiums in New Zealand
Purchasing your first home comes with its share of financial considerations. If your deposit is less than 20% of the property's value, lenders may impose additional costs known as Low Equity Margins (LEMs) or Low Equity Premiums (LEPs). Let's delve into what these terms mean and how they can impact your mortgage.
7 Steps to Get Mortgage-Ready for Your First Home
Getting a home loan for your first home? Make sure you’re prepared. These 7 essential steps will help you get your finances in shape and give you the best chance of mortgage approval.
Want To Afford Your First Home Mortgage? Make Sure You Have a Monthly Surplus
Having a healthy monthly surplus is essential to afford a mortgage comfortably. Learn how to calculate your surplus, why it matters to lenders, and how to improve your financial position.
The Impact of Credit Scores on Mortgage Approval: Tips for First-Time Buyers
Negotiation Strategies for First Home Buyers in New Zealand
How Market Volatility Can Hurt First Home Buyers Using KiwiSaver
How To Get A Mortgage For Your First Home In New Zealand
The Importance of a LIM Report: What You Need to Know
Buying Property With Others: Things To Be Aware Of
Happy New Year: 2025, The Year Of The First Home Buyer
So, You Think You are Ready to Make an Offer?
Often first home buyers don’t know where to start or when they are ready to make their first offer. As a first home buyer, there is often so much information to process, that it can feel overwhelming.
The Challenges of Cross Lease Properties
Cross lease developments started in the late 1950s and it allows multiple people to jointly own a section of land and the structures on it. It is a combination of freehold and leasehold ownership.
Why your KiwiSaver Fund Choice is so Important for First-Home Buyers
Choosing the right KiwiSaver fund is an important decision - especially if you're planning to use your savings for a first home withdrawal. The right fund should align with your time frame to buy a house - are you buying within the year, or are you still in saving mode? - and your risk tolerance - how much fluctuation could you handle?
House & Land Packages and Turnkey Packages ... What is the difference?
When you're on the journey to buying your first home, understanding the different types of building packages available can make a big difference in making the right choice. Two common options you'll come across are House & Land packages, and Turnkey packages. Let's explore these options to help you make an informed decision.
Neighbourly Tensions: Battling it out Over the Fence!
Picture this: a classic showdown between neighbours, with the humble fence caught in the middle. This has the potential to turn nasty so read on to get an understanding of the laws around fences.
Boundary Harmony: Navigating Encroachments
Every so often, Schnauer & Co will have enquiries from clients about an encroachment that they have become aware of, many years after purchasing their property. For example, you have your land surveyed and find out that your neighbour has built a fence, not on the boundary, but actually on your land. Or there is a structural addition that extends beyond the legal property boundaries.
When should I Engage a Mortgage Adviser?
Embarking on the exciting journey of homeownership is a significant milestone in anyone's life. Whether you're a first-time buyer or a seasoned homeowner, the complexities of the real estate market can be overwhelming. One crucial decision that often arises during this process is whether or not to engage the services of a mortgage adviser, and when.
Key Clauses in the ADLS/REINZ Agreement for Sale & Purchase of Real Estate
Schnauer & Co have previously addressed this in article “Breaking down the sale and purchase agreement” back in 2018. However, there have been many changes to the agreement since then. We are currently up to the eleventh edition 2022 (3) of the ADLS/REINZ Agreement for Sale and Purchase.
Making an Offer
Making an offer on a house is both an exciting and nerve-racking time! What's the right amount to offer? Is it too much or too little? What conditions should you include? Finding the right balance between a competitive offer and one that fits your budget is crucial, and should be carefully considered. After all, buying your first home will likely be the biggest, and most expensive, purchase you’ll ever make.
3 Tips for Buying your First Home this Year
No doubt 2024 is set to be another interesting year for first home buyers seeking to get into their first home. Generally experts are predicting that house prices are set to rise in 2024. With interest rates predicted to fall, this provides an opportunity for first home buyers to get on the property ladder.