Episode 25 & 26 ⋅ 19th October 2021

How Do I Figure Out How To Buy a House?

Regardless of where you live, the idea of owning your own home is probably on your wish list, or has been at one point. Us Kiwis LOVE investing in property. And fair enough, after all investing in property has worked really well for most Kiwis. 


Often with ideas such as owning a property it can be a far-away goal that we know we want, but we don't actually know how to go about getting there. Or through the buying process once we have our initial deposit saved up and ready to go.

Society tells us that you need to own a home in order to be a success. That it's incredibly hard to get on the property ladder now, and with that, you won't be able to unless you get parental or generational support. Plus, rent is dead money so why bother doing that? 

We're here to debunk a few of these myths and help you *actually* figure out how you can achieve the property dream. 

What's in the episode?

In this episode, Cat and Christine dive into the ‘how' of getting on a property ladder. Perhaps you're starting to think about investing in property, or have been sitting on a deposit for awhile but don't know where to start. We break down step by step what you can do to get on the ladder. 

Specifically, we cover:

  • Why it's important to know your timeline before you start putting the wheels in motion 
  • How our timelines aren't always fixed – flexible timelines can ease the stress and get you to your goal 
  • A step by step process of how to buy your first home
  • Deposit requirements for first home ownership
  • Considerations to make when thinking about the size of your mortgage and properties to buy 
  • What you need to prepare before talking to a bank about getting a loan
  • The 101 of Mortgage Advisers – how to find and approach them, how they differ to financial advisers and more
  • Costs to factor in before and after property purchase 
  • Our personal experience with and cost estimations for insurance, lawyers fees and more
  •  Why you should shop around for mortgage advisers, mortgage rates and potential properties to purchase! 
  • The difference between methods of sale for property – Auction vs Price by Negotiation vs Buying House and Land Packages

We also include a quickfire Q&A based on questions submitted by our Instagram followers. Questions included are: 

  • Is it better to use your KiwiSaver as part of your deposit or not touch it? 
  • Are there property funds that you can invest in to diversify your risk? 
  • Should I pay my student loan of before saving for a house deposit? (and buying property generally) 
  • Should I buy in a cheaper area then rent this house out vs buying in the suburb I live in? 
  • Should I buy new or buy old and renovate to add value down the track? 
  • How can you boost your deposit $ on a single income? 
  • How can I get a home loan being self employed? 
  • What should I budget for – rates, insurance etc? 
…And there's lots more goodness in there, so get listening now. 

Great resources mentioned on the podcast are: 

  1. Mortgage Lab blog 
  2. Sorted's guide to shopping for mortgages
  3. Kiwibank Mortgage Repayment calc

Featuring on today's podcast are your hosts, Cat and Christine.

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