First Home Buyers Club Blog

This article is sponsored by award-winning KiwiSaver provider, 

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?  Keep reading to find out more.

This blog is sponsored by Legendary Homes.

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.

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.

According to the Building Act 2004, you're free to erect a fence under two meters high without the need for any council green light. Simple, right? Wrong. It's not all smooth sailing when land covenants swoop in, dictating everything from height to colour. And if your house falls under the historic heritage category, brace yourself for more restrictions.

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. Usually this is picked up when owners are selling (during the purchaser’s due diligence) or if they are considering subdivision/construction of any extensions or additions.  

In short, the answer is “Now … at the start of your home-buying journey.” A mortgage adviser can serve as a valuable ally!

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.

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. It is best for you to use this form when making an offer by negotiation or, if the sale is by way of an auction, ADLS/REINZ have produced a separate agreement for auctions (the Sixth Edition 2022 (2)). If you are attending an auction then we recommend that you refer to our article “Purchasing A Property At Auction”.  

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.

Here’s 6 steps to help guide you through the process:

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.  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.

So here are our 3 tips to help you get closer to your goal of owning your first home:

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.

First Home Buyers are often nervous about the size of their Student Loan and how it will affect their chance of getting a mortgage. 

The Scenario

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?