Whether you’re considering a house, apartment, or building a first home, the range of options can be overwhelming. 

Therefore, it’s crucial to assess your lifestyle preferences and match them with the attributes of each real estate option. For instance, if you have a job in one of the major cities, prefer to walk rather than drive to work, and don’t want to push a lawn mower on weekends, an apartment might be your best bet.

On the flip side, if you seek more space and the prospect of a yard, an older house ripe for renovation might be the perfect fit. Furthermore, it’s imperative to contemplate the future. If you anticipate starting a family soon, ensure the property offers sufficient space to accommodate a growing household. 

Chances are, you’re drawn to the appeal of features such as pool or underfloor heating – much like many other prospective buyers. However, these features may not fit within the budget constraints of a first-time homebuyer.

As a first-time buyer, what truly matters are the essentials: the number of bedrooms and bathrooms, whether you need a garage or off-street parking, and the significance of a sizable backyard. Record these priorities onto a comprehensive list of your property needs. This priority list will guide your property search and help you pinpoint the perfect home that meets your requirements.

The next step is figuring out how much of a deposit you need. Start by looking at average asking prices for homes in your desired area by visiting the Raine & Horne (https://www.raineandhorne.co.nz/) website. 

If you’re in need of financial assistance, there is financial support at hand. Explore potential support programs that could complement your deposit savings. You might qualify for a First Home Grant[i], offering up to $10,000 per person toward your deposit. Additionally, consider the First Home Loan scheme[ii], which could secure you a loan with a deposit requirement as low as 5%, depending on your situation. If you meet the criteria for both programs, you’ll be well on your way to realising your dream of owning your first home. 

If you’re looking to buy a first home, don’t hesitate to contact your nearest Raine & Horne office.