Why First Home Buyers Trip Up
Most first home buyer mistakes in NZ aren't about picking the wrong house — they're about process: skipping a step, underestimating a cost, or leaving something until too late. Because you're only likely to do this once, it's easy to not know what you don't know. Here are the mistakes we see most often, and how to sidestep each one.
Shopping before pre-approval
Skipping the building inspection
Underestimating settlement costs
Leaving KiwiSaver withdrawal too late
Not reading the sale and purchase agreement closely
Choosing a lawyer at the last minute
The single most preventable mistake: making an offer before you've been formally pre-approved, not just pre-qualified.
The Fix for Most of These
Almost every mistake on this list comes down to sequencing — doing something before you're ready for it, or leaving it too late. Get pre-approved first. Line up your lawyer before you start viewing properties seriously. Apply for your KiwiSaver withdrawal the moment your agreement goes unconditional, not the week before settlement. None of this is complicated; it just needs to happen in the right order.
Quick Summary
- Get pre-approved before you shop: Not just pre-qualified — a real, verified pre-approval.
- Never skip the building inspection: It's the cheapest insurance you'll buy in this whole process.
- Budget beyond the deposit: Legal, inspection and moving costs add up to $5,000–$8,000.
- Apply for KiwiSaver withdrawal early: As soon as you go unconditional, not close to settlement.