Buying your first home is one of the biggest milestones in life – and it can feel both exciting and overwhelming. From saving for a deposit to understanding the ins and outs of the buying process, there are plenty of steps along the way. At EVES, we’re here to help first home buyers across the Bay of Plenty feel confident and supported as they take this important step.

Below is a guide to everything you need to know before you buy – including key steps, tips, and the benefits you may be eligible for in New Zealand.

 

1. Get Your Finances Ready

Before you start house hunting, it’s important to understand your financial position.

  • Deposit: New Zealand lenders will allow a deposit of as little as 10% in some circumstances for first home buyers, depending on the lending product and eligibility criteria.
  • Budgeting: Factor in not just the purchase price, but also legal fees, moving costs, insurance, and any renovations you may want to do.
  • Loan pre-approval: Talking to a mortgage broker or your bank about pre-approval will give you a clear idea of what you can afford and strengthen your position when you make an offer.

 

2. Explore First Home Buyer Support

The New Zealand Government has initiatives designed to help first home buyers get on the property ladder. You may be eligible for:

  • First Home Loan: Available through selected lenders, this lets eligible buyers purchase with as little as 5% deposit, backed by Kāinga Ora.
  • KiwiSaver Withdrawal: You may be able to withdraw most of your KiwiSaver savings to put towards your deposit, provided you meet the criteria.

 

3. Know What You’re Looking For

Buying your first home isn’t just about price – it’s about lifestyle and long-term fit.

  • Location: Think about commute times, school zones, and access to amenities like shops, parks, and beaches.
  • Type of property: Decide whether a townhouse, unit, apartment, or standalone home suits your needs.
  • Future potential: Look beyond the now – is there room to grow, or potential to add value through renovations?

 

4. Understand the Buying Process

Buying a home in New Zealand can happen through different methods, such as auction, tender, or negotiation. It’s helpful to:

  • Get familiar with how each process works.
  • Have a lawyer review the Sale and Purchase Agreement before you sign.
  • Arrange a building inspection and LIM report to understand the property’s condition and compliance.

 

5. Think About Long-Term Planning

Your first home may not be your forever home, but it’s an important stepping stone. Consider:

  • Resale value – what features will make your property appealing to future buyers?
  • Ongoing costs – such as rates, insurance, and maintenance.
  • Investment – your first home is not only a place to live but also part of your financial future.

 

6. Work With Local Experts

The Bay of Plenty property market has many houses suitable for first home buyers. Partnering with a local EVES salesperson means you’ll benefit from expert knowledge of neighbourhoods, school zones, and market trends – plus the reassurance of having someone in your corner throughout the process.

 

Ready to Begin Your Journey?

Buying your first home is a big step – but with the right preparation and support, it can also be one of the most rewarding. At EVES, we’re here to guide you through every stage, from budgeting to settlement.

Speak to a salesperson from EVES today and take the first step toward owning your first home.