First home buyers hub

Steps to building new for first home buyers

This path isn’t always straightforward and linear, but each milestone is key to getting your foot on the property ladder! Scroll down for each step or check out our visual map:

Download your free PDF guide: Steps to building new for first home buyers

1. DEPOSIT OPTIONS

Gathering your deposit is key, consider: 

  • Setting up regular savings
  • KiwiSaver first home withdrawal
  • Family Equity Loan or Shared Equity
  • Gifting from family
  • Explore low deposit options like First Home Loan 

Tip: Read our tips on boosting your deposit 
 

2. GET PRE-APPROVED

Work with your bank or a broker to get a home loan pre-approval. They’ll look at:  

  • Your savings history
  • Your credit rating
  • Your debt, lay-bys, credit cards etc. outstanding bills
  • Your employment/salary   

Tip: If at first you don’t succeed don’t dismay, find a broker as not all banks have the same lending criteria!


3. HOUSE HUNTING

Find a house and land package: 

  • Explore our range online
  • Location, location: consider school zones, commuting times, amenities
  • Know your budget, if you haven’t already, get pre-approved for a loan 

Tip: Did you know new builds have lower deposit requirements? Read here why building new might be the smartest way to go.
 

4. MAKE AN OFFER!

  • Offers are made on a Sales & Purchase Agreement
  • Engage a lawyer before signing
  • Set conditions (i.e. subject to finance or title checks)
     

5. GO UNCONDITIONAL

Congratulations, your offer has been accepted!  

  • Satisfy any conditions from the Sales & Purchase agreement
  • Get full approval from your mortgage adviser (bank/broker)
  • Now it’s time to pay your deposit
     

6. PRE-BUILD PLANNING

Our great planning process ensures a smooth build that is delivered on time and budget.

  • Meet with our colour consultants
  • Decide any variations to plan
  • Sign your home loan documents with your lawyer  

Tip: View our 14-step build process here.
 

7. BUILDING COMMENCES 

  • Get told your move-in date!
  • Now’s a good time to decide your loan structure (floating vs. fixed, offset or mixed, etc.)
  • We put in place construction insurance at the start of every project, a certificate can be supplied to satisfy your bank.
  • Settlement day is when you pay the balance due on your home (sale price less deposit)
  • Get the keys to your new home! 
     

8. READY TO MOVE IN

Congratulations, all that hard work was worth it! 

  • Set up APs for council rates and mortgage repayments
  • Decide on fortnightly/weekly/monthly repayments   

Tip: Check what day your mortgage repayments will be coming out and align these with your payday. 

Download your free PDF guide: Steps to building new for first home buyers.