First Home Buyer Checklist

Buying your first home can feel like trying to climb a ladder with the first few rungs missing. You know you want to get on, but how? Where do you start? And is it even possible when house prices, deposits, and interest rates all feel like hurdles stacked against you? 

The good news? There is support out there – practical tools, financial help, and expert advice – to give you that first boost. 

From saving a deposit to knowing what you can afford, here are some of the key pathways that can help turn your first home dream into a real-life letterbox with your name on it. 

KiwiSaver (still a game-changer) 

Let’s start with the obvious hero: KiwiSaver. If you’ve been contributing to a KiwiSaver fund for at least three years, you can likely withdraw most of your balance to put towards a first home deposit. That includes your contributions, your employer’s, and any investment returns earned along the way. 

Many first home buyers don’t realise just how much has quietly built up until they actually check their balance – it can be a surprisingly decent sum, especially if you’ve been working consistently and haven’t paused contributions. 

Important tip: You do need to leave at least $1,000 in your account, and the home must be your primary residence (not an investment or holiday home) and your first home. Check with your provider to confirm your eligibility and how the withdrawal process works. 

Talking to a home loan adviser (your new best friend) 

Let’s be honest – “home loan” or “mortgage” can feel like an intimidating, acronym-filled minefield. But you don’t have to figure it all out alone. A mortgage adviser (or broker) can help demystify the process and make sure you’re heading down the right track. 

They’ll look at your income, expenses, KiwiSaver, and debt (if any) and work out what you can realistically borrow. They’ll also help you: 

• Compare lenders and interest rates 

• Understand fixed vs floating rates 

• Prepare for pre-approval 

• Avoid common traps (like overcommitting yourself early on) 

Most mortgage advisers in New Zealand don’t charge you directly – they’re paid by the bank or lender – so it’s worth having one in your corner. 

Get prepared 

Many buyers try to ‘time the market’, waiting for the perfect dip in house prices or the perfect drop in interest rates. But here’s the truth: the perfect moment rarely announces itself. What does make the biggest difference? Being prepared. 

That means: 

• Getting your KiwiSaver in order 

• Talking to a home loan adviser 

• Understanding your budget 

• Knowing what you’re eligible for 

• Building a realistic timeline 

• Having a play with numbers 

Once you’re ready, you can move quickly and confidently when the right home comes along. 

Of course, “perfect” looks different for everyone – and that’s where things get interesting. If you’re younger, don’t yet have a family, and are just looking to get a foot on the property ladder, you might be more open to compromise. The advice to not wait for a perfect house can absolutely apply here – it’s more about getting into the market and building equity over time. 

But for others – especially those buying their first home with a growing family in mind – the criteria can shift dramatically. It’s not just about four walls and a roof. It’s about school zones, neighbourhood safety, flood zones, access to parks, supermarkets, and public transport. For these buyers, ‘perfect’ may mean something a lot more specific – and that’s okay too. 

The key takeaway? Whether you’re buying solo or with your whānau, the best approach is one that’s tailored to you. A financial adviser can help you navigate all these decisions based on your current situation and future goals – and that kind of clarity can be even more powerful than waiting for the stars to align. 

In a nutshell 

There’s more support out there for first home buyers than most people realise – from KiwiSaver advisers, to experienced home loan advisers who can guide you through the maze. Do your research, get your plan together, and start climbing that ladder – first rung included. 

Looking to better understand the buyer journey? Check out our handy guide here!