Ready to buy your first home?
Download our First-Home Buyer’s Checklist and feel confident every step of the way.
Buying your first home is one of life’s biggest milestones, and with the right preparation, it doesn’t need to feel overwhelming. With some smart planning and the right support, you can step into your new home with confidence.
We sat down with HTL Mortgage Adviser Serina Nicholson to hear her best advice for first-home buyers.
Here are eight steps to help you get mortgage-ready:
1. Start with your budget
Before you scroll through listings, take time to understand what you can afford. A clear budget helps you narrow your search and prevents disappointment later on.
2. Get pre-approval early
“Not getting a pre-approval is the biggest mistake I see,” says Serina. With a pre-approval in hand, you’ll know exactly how much you can spend, and you’ll be ready to act fast when the right property comes along.
3. Understand your deposit options
The good news? You don’t always need 20% saved.
- Some buyers may qualify for a First Home Loan with as little as 5%.
- For others, the deposit requirement could be 10 - 20%, depending on the lender.
Talking to an adviser will give you clarity on which options suit your situation.
4. Make KiwiSaver work for you
If you’ve been in KiwiSaver for three or more years, you may be able to withdraw your funds to help with your deposit. “KiwiSaver is how most Kiwis purchase their first home,” Serina explains.
5. Explore grants and incentives
Government-backed schemes like the First Home Loan can help you buy with less than 20% deposit while still accessing standard interest rates. Some banks even offer discounted rates for new builds. It pays to know what’s available.
6. Be prepared for upfront costs
It’s not just about the deposit. You’ll also need to budget for:
- Lawyer’s fees ($1,500–$3,000)
- LIM report ($350+)
- Builder’s report ($600+)
- Valuation ($1,000 if deposit <20%)
- Insurance ($150–$200 per month, depending on the property)
Having savings set aside for these will keep things stress-free.
7. Work with a mortgage adviser
Instead of navigating all the banks yourself, a mortgage adviser does the shopping around for you. “We look at the banks and pick the one that suits your situation,” says Serina. “One may say no, another may say yes, and we’ll fight to get you the best deal.”
8. Get advice early
Even if you’re not quite ready to buy tomorrow, talking to an adviser early gives you a clear path forward. “We’ll guide you depending on where you’re up to in your journey,” says Serina.
Take the next step…
Your first home is closer than you think.
Click the button below to download our free First-Home Buyer’s Checklist to stay on track, and book a chat with HTL’s Mortgage Adviser, Serina Nicholson, today.
