First Home Buyers Blog:
Filter
- Auctions 1
- Buying Your First Home 2
- Credit Management 1
- Financial Planning 1
- First Home Buyer Advice 1
- First Home Buyer Essentials 1
- First Home Buyer Tips 6
- First Home Buyers 4
- Home Loan Preparation 1
- Home Loan Tips 2
- Homeownership in NZ 1
- Insurance & Risk Protection 1
- Investment Strategy 1
- KiwiSaver 1
- Mortgage & Pre-Approval 1
- Mortgage Advice 5
- Mortgage Basics 1
- Mortgage Planning 1
- New Zealand Property Market 1
- Personal Finance 1
- Property Advice 1
- Property Purchase 1
- Property Purchase Advice 1
- Real Estate Advice 1
- Working with Real Estate Agents 1
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.
Tips For Saving Money When the Cost of Living Is High
Living in a high-cost environment can be challenging, but with the right strategies you can still save money and thrive. In this blog we will explore some effective tips for saving money when the cost of living is high.
Student Loans and How They Affect Getting a Mortgage
You’ve studied hard for many years and, to get there, you borrowed on your Student Loan for courses, books, and some money to live on. Now you have a deposit for a house … and a Student Loan of four times that! How is your Student Loan going to affect your chances of getting a mortgage?
Co-owning Property with Family or Friends
Co-owning property with family or friends doesn’t always mean that all the purchasing parties will reside at the property. Sometimes one party is helping another party get on the property ladder but they still want to reserve their right to have some benefit in the form of rent or a percentage of any profit margin when the property sells in the future.
How do Banks Calculate Home Loan Affordability?
When reviewing a home loan application, banks consider a variety of factors to calculate affordability. However, all factors considered, it can be summarized into this simplified equation.
7 Steps to creating a monthly budget
When saving for your first home, creating a budget is an important step in managing your finances effectively. It helps you track your income and expenses, prioritize your spending, and work towards your financial goals.Here's a step-by-step guide to help you create a monthly budget:
Cancelling a Contract
As we previously stated, in certain circumstances purchaser/s must provide a satisfactory explanation of the grounds relied upon by the purchaser, together with supporting evidence, immediately on request by the vendor when trying to avoid a contract due to non-satisfaction of a certain condition.
Legal Toolkit: Do I need a Contracting out Agreement or a Property Sharing Agreement?
Once a relationship has been in place for 3 years, the Property (Relationships) Act 1976 (“Act”) requires property to be equally divided, despite each party’s contribution.
All you need to Know about KiwiBuild
Launched in 2017, KiwiBuild set out with an ambitious goal of delivering 100,000 affordable homes for first home buyers. Since its inception, the program has encountered challenges and its critics along the way. However, there have been noteworthy positive changes made to the KiwiBuild initiative, which this article aims to cover comprehensively. This article will provide you with all the essential information you need to know about KiwiBuild and its current status.
How much Deposit do I need as a First Home Buyer?
There’s a misconception that having at least a 20% deposit is the only option for a First Home Buyer. Whereas, the amount of deposit needed to buy a house in New Zealand can be from as low as 5% ... enabling First Home Buyers to pursue their dream of owning a property by using low deposit home loans.
5 Tips to Boost your KiwiSaver First Home Deposit
Buying your first home can be an exciting, yet daunting, prospect. One of the biggest hurdles to overcome is the deposit required to secure a mortgage. For many Kiwis, being able to make a one-off withdrawal from their KiwiSaver for a home deposit enables them to reach their home-buying dreams.
Interest Rates 2023 … The Effect on First-Home Buyers
Whether you’re a first home buyer or already a property owner, we’ve all been nervously watching interest rates continue to rise through 2023. And now with last week’s OCR rise of another 50 basis points … if only we had a crystal ball to know the impact this is going to have on home loan interest rates going forward, and whether it’s a good time for first-home buyers to dive into the property market.
5 Tips for your First Home Search
Buying a home is a major milestone in anyone's life and the process of finding the right one can be overwhelming. Once you've arranged your pre-approval, know your budget, and have your home deposit ready, now the really exciting part begins ... it’s time to start house hunting!
7 Tips To Help You Save For Your First Home Deposit
We understand that saving for a deposit can be one of the biggest hurdles for first home buyers, and that's why The First Home Buyers Club is here to lend a helping hand.
First things first though, you need to have an idea of how much money you spend weekly as well as how much you need to save for your first home deposit. Having a specific target to work towards will help keep you motivated and focused. Pick a number, set a timeframe, and then get busy saving!
We’d like to share with you some ways you can make saving easier and hopefully reach your savings target quicker than you expected!