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.

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!

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!

No doubt 2023 is set to be another interesting year for first home buyers seeking to get into their first home.  Generally experts are predicting that the subdued housing market conditions are likely to continue.  Our suggestion for first home buyers is to work on areas that help them get closer to being ready for a home loan pre-approval.

You‘ve done the hard yards, you’ve scrimped and saved, and you cautiously think you’re ready to move to the next stage of buying your first home! High Fives by the way, you have just achieved the most difficult milestone of the journey, and you’ve stayed the distance. We know how hard you’ve worked and now the fun part begins! But where to from here?  

It is very important to have a Will in place and often this is not considered until people buy their first home or have children. It is also very important to update your Will on a regular basis as people’s circumstances can quickly change.

Auctions have been the most popular property selling method for vendors in NZ for some time now and most of you will be familiar with the process – a property is offered for sale to the public (usually, the bidders have to register their interest in advance with the selling agent) and once the seller’s reserve price is reached, the property is sold to the buyer with the highest bid.

There are various ways that monetary assistance from your parents towards the purchase of a property can be recorded/protected depending on whether your parents will be loaning or gifting this monetary assistance.

One of our Tips For Getting A Yes To Pre-Approval is to show consistently good bank account conduct.  Keeping your bank account in good order is often not considered by first home buyers when preparing to get a pre-approval.

Under the current ADLS Agreement of Sale and Purchase of Real Estate (Eleventh Edition) 2022, there have been many changes. Buyers need to be aware of the conditions and the process that applies to the standard conditions on the front page of the agreement (further detail on these conditions is set out in clause 9.0 of the agreement).

The team at Schnauer and Co. have put together a resource toolkit to highlight some of the common misconceptions that some first home buyers have and provide you with tips on how to avoid some easy mistakes when buying your first home. Our expert tips will be presented over [6] easy to read articles, and they are all designed to help you achieve your goal of home ownership in NZ.

In New Zealand, particularly Auckland, the growing population and rising house prices have resulted in apartment living becoming an appealing and more realistic option for many first home buyers.  Any property purchase is a big decision but buying an apartment off the plans doesn’t need to be a stressful process.

Borrowing at the moment isn’t easy and a lot of this comes down to bank credit policy in this market and their appetite to lend. Credit policy varies across banks, however, in most respects, they remain very similar.  This article helps to explain the importance of debt servicing when applying for your first home loan.

Here at The First Home Buyer's Club, we get excited about helping first home buyers through the process of purchasing their first home.  But often, this excitement is hit with a dose of reality when we discover the amount of debt they have on board.

Schnauer and Co. are a North Shore-based law firm that has developed its legal expertise to encompass nearly every area of the law – so they can walk alongside their clients throughout their lifetimes, and those of their families. They combine the experience of their more than 30-year history and expert team with a lateral thinking, flexible approach to problem-solving. 

The Sale And Purchase Agreement can be a daunting document for first home buyers.  As a legal document it is important that you make sure that you are fully informed about your legal obligations. It is also the opportunity to ensure that you include all the conditions needed to be able to check out the property to satisfy yourself and the bank that it is a solid purchase.

Schnauer and Co. are a North Shore-based law firm that has developed its legal expertise to encompass nearly every area of the law – so they can walk alongside their clients throughout their lifetimes, and those of their families. They combine the experience of their more than 30-year history and expert team with a lateral thinking, flexible approach to problem-solving. 

It all begins with an idea.

One of the top questions we get from first home buyers is "How much deposit do I need?" The answer is entirely dependent on your situation, if you have favourable circumstances, a low deposit loan could be possible.