Know your buying power
It's good to know how much you can afford to buy before you start house hunting or planning your build. Use our online calculators to get an idea of how much you may be able to afford.
Meet with an ANZ Home Loan Coach
Your Home Loan Coach will take you through your home loan options and help you plan your next steps. They can help you sort out a home loan pre-approval, estimate how much you could borrow, discuss your deposit options, and show you what your repayments could look like.
Getting your home loan deposit together
How much deposit do you need?
Generally, you’ll need a 20% deposit for an ANZ Home Loan, but depending on your situation and the type of home you’re buying, this may differ – so talk to your Home Loan Coach today.
Deposit options
If your savings and/or existing property equity are not enough, there are other options available. You may be able to get help from:
- KiwiSaver (if you’re eligible for a first home withdrawal)
- Family (through gifting, loans, guarantees and co-ownership).
Costs of buying and owning a home
It's important to factor in all of the costs of buying and owning a home. Below are some you might need to consider.
Buying costs – one off
- Solicitor fees
- LIM reports
- Property files
- Building inspections
- Moving costs
- Utility set and reconnecting services
Owning costs – ongoing
- Home loan repayments
- Council rates
- Insurance – Home and Contents
- Utilities and maintenance
- Body corporate fees (if buying a Unit Title)
Your Home Loan Coach can help you understand the costs and help you set your budget. You can also find tips and a budget calculator to help plan your spend in our financial wellbeing hub.
Establish your home buying support team
Having the right team around you can help you navigate through all stages of buying a house. Your Home Loan Coach can guide you through the full process but there are a couple of other people you'll need.
Assess your insurance needs when buying a home
Once you've found a new home you'll need to insure it before you can draw down your home loan, so it's a good idea to think about insurance early. Buying a home can mean a new chapter in your life, so you may also want to consider how other insurances could help protect you and your family's lifestyle.
Your Home Loan Coach can help you assess your insurance needs.
Protect your new home
House insurance protects you if your house gets damaged or affected by things like a fire, flooding or natural disaster. You must have adequate house insurance in place before settlement day. Your Home Loan Coach can help you understand what you need to do and potential insurance costs for the house type and location you're looking for.
Protect your valuable possessions
Contents insurance covers the things you own (other than your house), such as furniture, clothes, appliances, etc. If you don't have contents insurance, it's a good idea to get this in place so you have peace of mind should something happen to your belongings. Your Home Loan Coach can help you understand the options.
Protect your lifestyle
What would happen if you suffered from an accident or illness that prevented you from working, or you passed away? Life and income insurances can help protect you and your loved ones’ financial future. Having the right cover in place can help with your home loan repayments or day-to-day living expenses.
Examples
- Life insurance can help ensure your family will be looked after financially if the worst should happen to you.
- Critical illness insurance can help provide financial assistance for you and your family if you’re diagnosed with a defined illness or condition such as cancer, heart attack or stroke for the first time.
- Income protection insurance can help with your living expenses if you can’t work due to accident or illness.
Your Home Loan Coach can put you in touch with our trusted insurance partner, Chubb Life, who can help you find the right insurance options for your situation.
Are you ready to get home loan pre-approval?
Once you've reviewed your finances and sorted a deposit, you're ready to apply for pre-approval. This can be done online or a Home Loan Coach can help you work through the process.
Getting pre-approval gives you an idea of your potential buying power and approximate price range, so you can house hunt, or plan your build, with confidence.
Checklist and next steps
Free resources for home buyers
Important information
ANZ lending criteria, terms, conditions, and fees apply. Interest rates and fees are subject to change.
This material is for information purposes only. We recommend seeking financial advice about your situation and goals before getting a financial product. To talk to one of our team at ANZ, please call 0800 269 296, or for more information about ANZ’s financial advice service or to view our financial advice provider disclosure statement see anz.co.nz/fapdisclosure