Quick Answer: Beyond your deposit, budget for a building inspection ($400-$800), a LIM report ($300-$400), legal fees ($1,400-$2,000), house insurance from settlement day, loan establishment or valuation fees, and moving costs - together often adding $3,000-$6,000 on top of the purchase price.
Pre-Purchase Costs You'll Pay Before You Even Own It
Several costs land before settlement, whether or not the purchase goes ahead. A building inspection typically costs $400-$800 depending on property size and inspector, and a LIM report from the local council usually runs $300-$400. If you need a registered valuation for your lender, add another $700-$1,000.
Property lawyers in NZ charge $1,200-$2,500 for a standard purchase, covering title checks, reviewing the sale and purchase agreement, liaising with your bank, and managing settlement - some quotes exclude GST and disbursements, so always confirm what's included before comparing prices.
$400-$800
$300-$400
$1,400-$2,000
$700-$1,000
Costs Easy to Forget
House insurance from settlement day
Banks won't release funds without proof of cover in place from the day you take ownership.
Moving costs
Removalists, van hire, or just fuel and time add up faster than most buyers expect.
Rates and utility connections
Rates are adjusted at settlement, and you'll need to set up power, water, and internet in your name.
Common Questions, Answered
Quick Summary
- Budget $3,000-$6,000 beyond the deposit for inspections, legal fees, and insurance.
- Legal fees run $1,200-$2,500 - always ask what's included before comparing quotes.
- Insurance must be in place by settlement day, not just before you move in.
- Moving and connection costs are easy to underestimate but add up quickly.