Finding a House
You have your pre-approval and you're about to embark on your hunt for your perfect home!
This is where the excitement really begins! Finding your perfect first home requires careful consideration of many factors. Take your time, do your research, and don't rush into a decision you might regret.
Key Points for House Hunting
- Freehold (fee simple) is the most flexible ownership type - you own land and building
- Cross lease and unit titles have restrictions on alterations and body corporate levies
- Auction sales are unconditional - complete all due diligence beforehand
- Always get a building report and LIM before committing to purchase
- Create a checklist of must-haves vs nice-to-haves to stay focused
- Visit properties at different times of day to check noise, sun, and traffic
Key Considerations
Location
Proximity to work, family, amenities. Check crime rates and future development plans.
Price
Stay within your pre-approved budget. Don't forget extra costs like rates and insurance.
Type of Home
House vs apartment vs townhouse. Consider maintenance, outdoor space, and privacy.
Local Schools
School zones matter for families. Check ERO reports and decile ratings.
Transport & Amenities
Public transport, shops, parks, cafes. Will this area suit your lifestyle?
Type of Street
Busy road vs quiet cul-de-sac. Traffic noise and safety considerations.
5 Top Websites for House Hunting
Start your search on these popular NZ property websites:
Featured New Build Listings
Explore new build developments with first home buyer benefits
New builds often qualify for lower deposit requirements (as little as 5-10%) and may offer better value with warranties included.
Types of Properties
Understanding different property ownership types is crucial when buying your first home:
Estate in Fee Simple
Best Option- •Own both land and property outright
- •Can make alterations freely
- •Subject to council bylaws only
- •Most flexible ownership type
Cross Lease
Common- •Multiple homes on one land block
- •All owners share the land
- •You lease your home
- •Defined exclusive use area
- •Need consent for alterations
Unit Title
Apartments- •Own the unit + piece of land
- •Body Corporate governs
- •Common areas maintained collectively
- •Annual levies payable
- •Pre-contract disclosure required
Estate in Leasehold
Not Recommended- •Own building, NOT the land
- •Land leased at annual rental
- •Banks usually won't lend
- •Avoid unless experienced investor
Understanding Sale Methods
Properties are sold in different ways. Each method has its own rules and strategies:
Price By Negotiation
No set price - negotiate with the vendor
- •No asking price advertised
- •Vendor invites offers and negotiates
- •Can include finance and other conditions
- •Allows flexibility in negotiations
- •Agent will guide on price expectations
Tip: Research comparable sales in the area to make an informed offer.
Listed Price
Property listed with an asking price
- •Asking price advertised
- •Often negotiable - asking price is a guide
- •Agent works for the seller
- •Can include finance conditions
- •Most common sale method
Tip: Don't be afraid to negotiate - asking price is often just a starting point.
Auctions
Property sold to highest bidder on auction day
- •Must complete ALL due diligence BEFORE auction
- •Register as bidder before auction starts
- •10% deposit required on auction day
- •Pre-auction offers sometimes accepted
- •Sale is unconditional (no finance clause)
- •Fast-paced and competitive
Tip: Never bid at auction without pre-approval and completed building/LIM reports!
Deadline Sale
Submit offer by specified deadline
- •Submit offer by certain date and time
- •Vendor considers all offers after deadline
- •Can include conditions (unlike auction)
- •Don't know what others are offering
- •Vendor may negotiate with preferred buyers
Tip: Put your best foot forward - you may not get a second chance.
Private Sale
Buy directly from owner without agent
- •No real estate agent involved
- •Negotiate directly with seller
- •Must still use solicitor
- •Banks often require Registered Valuation
- •Can be good value if seller motivated
Tip: Still get professional advice - savings can disappear with hidden issues.
Defining Your Perfect Home
Use our handy checklist to prioritise what's most important to you:
Must-Haves
Critical features you won't compromise on:
- • Number of bedrooms
- • Location/school zone
- • Off-street parking
- • Maximum price
Nice-to-Haves
Features you'd like but could live without:
- • Outdoor space/garden
- • Garage vs carport
- • Modern kitchen
- • Heat pump
Deal-Breakers
What to avoid at all costs:
- • Known flooding issues
- • Major structural problems
- • Busy main road
- • No building consent
Future Potential
Think about future needs:
- • Room for family growth
- • Development potential
- • Resale value
- • Capital gains prospects
Helpful Tools & Apps
Mobile Apps
Barfoot & Thompson iPad app, Realestate iPhone app
Online Valuations
OneRoof Estimate, Homes.co.nz valuations
Mapping Tools
Google Maps for commute times and local amenities
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Frequently Asked Questions About Finding a House
Frequently Asked Questions
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