Join the KiwiSaver scheme others look up to
Finding the one
Once you've got your deposit and
pre-approval sorted, you can start house hunting with confidence.
You could get a $3,000 cash contribution when you buy your first home with an ANZ home loan
Types of land ownership
There are a number of land ownership types in New Zealand. The more commonly known types are:
- Freehold - you own the land
- Cross lease - land ownership is shared between the owners of properties on that land
- Unit Title - you own a defined part of a building, like an apartment, and share ownership of common areas
- Leasehold - someone else owns the land and you lease it from them.
It's important to talk to your solicitor and get their advice about these different types and what they would mean for you before making an offer.
See settled.govt.nz for more details about types of land ownership.
Buying a home is a big commitment, so it pays to do thorough research before you make an offer. It's a good idea to have a list of your ideals to rate a property against. Some things you may like to consider:
- Does it get good sunlight (it pays to visit at different times of the day)?
- What is the neighbourhood like (including neighbouring houses)?
- Is it close to facilities like shops, schools or transport?
- Does it have insulation? How is it heated?
- What is the general condition of the building, roof, and outside areas? Are there any potential issues that may need to be addressed?
For more details about researching a property, visit settled.govt.nz
Tip:
Before you make an offer on a property, it's important to factor in the cost of house insurance. Certain regions may not only have higher premiums, but there may be some restrictions on obtaining insurance. Your ANZ Home Loan Coach can help with this.
Get an ANZ Property Profile Report and know a home's potential worth.
An ANZ Property Profile Report gives you an estimate of a property's potential market value, plus recent comparable property sales in the area –helping you decide how much you're willing to pay for a particular home. The report, produced by Core Logic, is worth $49.95 and is free when you have a pre-approval for an ANZ home loan.
Tip:
The cost of inspections and reports can start to add up. So be sure it's a property you are really interested in before requesting these.
Find out how the house will be sold
There are four main ways to buy a house in New Zealand and each has pros and cons. Check out our journey maps below for more information. Remember that making an offer may lead to a legally binding contract if your offer is accepted. Buying a house is an exciting time, but it's important that your solicitor checks your Sale and Purchase Agreement before you sign it.
Tip:
To experience the home buying process you can register for a free ANZ Property Unlocked Seminar. You'll get first-hand insights from experts including solicitors, real estate agents and ANZ Home Loan Coaches.
Before your offer can be unconditional, you will need to confirm finance by applying for full loan approval for your chosen property.
Having already validated your identity and financial position for your pre-approval, the property is the final component of your loan application.
Your ANZ Home Loan Coach will help you through the process and provide you with a Letter of Offer if your application is confirmed. Your Letter of Offer is key to the sale going ahead.
Note that in some cases, we may require a property valuation before we can confirm full approval.
Next steps:
ANZ lending criteria, terms, conditions, and fees apply. Interest rates and fees are subject to change.
A copy of the Bank's General Disclosure Statement under the Reserve Bank of New Zealand Act 1989 is available on this website or on request from any ANZ branch, free of charge.
This material is for information purposes only. Its content is intended to be of a general nature, does not take into account your financial situation or goals, and is not a personalised financial adviser service under the Financial Advisers Act 2008. It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product. An ANZ Authorised Financial Adviser will, on request and free of charge, provide you with his or her disclosure statement prepared under the Financial Advisers Act 2008. If you wish to consult one of ANZ's financial advisers, please contact us on 0800 269 296.