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Buying Your First Home

Buying your first home starts here

Buying your first home is exciting. It's also one of the biggest financial decisions you'll ever make.

Whether you're looking for a townhouse close to everything you love, an apartment in the city, or a place to put down roots with your partner, it's normal to have questions. How much can you borrow? How much deposit do you need? Can you use your KiwiSaver? What happens when you find the right property?

At Velocity Financial, we help first home buyers navigate every stage of the journey with confidence. From understanding your options through to settlement day, we'll guide you through the process and help you make informed decisions that support your long-term financial goals.

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First home buyers standing outside a house
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What you need to know about buying your first home

If you're buying your first home in New Zealand, you'll typically need to understand:

  • How much you can borrow
  • How much deposit you'll need
  • Whether you can use your KiwiSaver
  • How to get home loan pre-approval
  • Which mortgage structure is right for you
  • What costs you'll need to budget for
  • How the buying process works
  • Whether the property can be insured
  • How to protect your financial wellbeing once you're a homeowner

Velocity Financial helps first home buyers navigate every stage of the journey, from preparing your deposit and securing a first home loan through to settlement and beyond.

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We'll help you buy with confidence

Understand what you can afford

Before you start house hunting, it's important to understand your borrowing power and how home ownership fits alongside your lifestyle and future plans.

As experienced mortgage advisers, we'll help you:

  • Understand your budget and borrowing capacity
  • Calculate your deposit requirements
  • Prepare for lender assessments
  • Explore your home loan options
  • Structure repayments that suit your circumstances
  • Avoid stretching yourself financially

Buying your first home should feel exciting, not overwhelming.

Make the most of your KiwiSaver

For many first home buyers, KiwiSaver is one of the most powerful tools available to help build a deposit.

We'll explain:

  • Whether you're eligible for a KiwiSaver first home withdrawal
  • How much you may be able to access
  • What documentation you'll need
  • How KiwiSaver fits into your overall deposit strategy
  • How to rebuild and grow your KiwiSaver after purchasing your first home

Using your KiwiSaver can help you get onto the property ladder sooner, but it's also important to think about your long-term financial future. We'll help you understand how using your KiwiSaver today may affect your retirement savings tomorrow and how to put a plan in place to continue building wealth once you've settled into your new home.

Find the right mortgage

Choosing a mortgage can feel confusing when you're faced with terms like fixed rates, floating rates, split loans and offset accounts.

We'll explain your options in plain English and help you choose a mortgage structure that aligns with your goals, budget and plans for the future.

We'll also compare lending options from a range of lenders and help you secure a competitive first home loan solution.

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Looking at properties? We'll help with that too.

Choosing the right home

The right property isn't always the biggest house or the highest budget.

We'll help you think beyond the purchase price and consider factors such as:

  • Long term affordability
  • Property type and maintenance requirements
  • Potential future value
  • How your needs may change over time
  • Natural hazard risks such as flooding, coastal erosion and land instability
  • Whether a property can be insured today and what future insurability may look like
  • The potential impact of climate change on the property's long-term suitability
  • How the property fits within your wider financial goals

Today's first home buyers are increasingly looking beyond simply getting into the market. They want confidence that they're making a smart decision for the future. Understanding environmental risks, insurance considerations and the longer-term resilience of a property can be just as important as securing the right mortgage. While nobody can predict the future, we can help you ask the right questions and connect you with the right professionals before making one of the biggest financial commitments of your life.

Understanding the buying process

Every property purchase is different.

You may buy through:

  • Auction
  • Deadline Sale
  • Tender
  • Negotiation
  • Fixed Price

We'll explain how each process works and what to expect so you can make confident decisions when the right property comes along.

Budget for more than the purchase price

Many first home buyers are surprised by some of the costs involved in purchasing a property.

We'll help you understand expenses such as:

  • Legal fees
  • Building reports
  • Valuations
  • Rates
  • Body corporate fees
  • Insurances
  • Moving expenses

Understanding the full financial picture upfront can help you avoid unexpected surprises later.

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Protecting what you've worked hard for

For many people, their first home is their largest financial commitment, and this carries inherent risk.

That's why we believe protecting your income and financial wellbeing is just as important as securing the right mortgage.

As part of Velocity Group, we can help you understand the role of:

  • Personal insurance
  • Income protection insurance
  • Health insurance
  • Mortgage protection strategies

We'll help you balance protection with affordability, so you can move forward with confidence.

More than a mortgage

For many of our clients, buying their first home is just the beginning.

While we'll help you secure the right lending today, we're also thinking about where you want to be in five, ten or twenty years' time.

As your circumstances evolve, you may want advice on rebuilding your KiwiSaver, protecting your income, growing your investments, planning for a family or purchasing your next property.

As part of Velocity Group, we can support you across mortgages, personal insurance, KiwiSaver, investments and broader financial planning, helping you build a strong financial foundation for the future.

Our goal is to become your trusted adviser for every stage of your financial journey, not just your first home purchase.

FAQ

Frequently Asked Questions

The deposit required depends on the property, lender and your personal circumstances. Many buyers aim for a 20% deposit, although lower deposit options may sometimes be available. We can help you understand what's achievable and create a plan to get there.

In many cases, yes. Eligible first home buyers may be able to withdraw most of their KiwiSaver balance to help fund their deposit. We can help you understand the rules, guide you through the process and create a plan to rebuild your KiwiSaver after your purchase.

Your borrowing power depends on your income, expenses, existing debt, deposit and lender requirements. We'll help you understand what lenders may be willing to offer and what fits comfortably within your budget.

Pre-approval is an indication from a lender that they may be prepared to lend up to a certain amount, subject to conditions. It can help you understand your budget and put you in a stronger position when making an offer.

In most cases, yes. Knowing your budget before you start house hunting can save time, reduce uncertainty and help you focus on properties within your price range.

Yes. Many people purchase their first home as an individual. Your borrowing capacity will depend on your financial position, but there are often options available.

Yes. Factors such as flooding, coastal erosion, land movement and future insurability are becoming increasingly important considerations for homeowners. Understanding these risks before you purchase can help you make a more informed decision and avoid unexpected challenges later.

Potentially, yes. The availability and cost of insurance can vary depending on a property's location and risk profile. Before committing to a purchase, it's worth understanding any insurance considerations that may impact affordability and long term suitability. Our Caveo team can assist with this.

Buying a home is only one part of your financial journey. It's important to consider emergency savings, insurance, KiwiSaver, future investment goals and how home ownership fits alongside your broader financial plans.

A mortgage adviser can help you understand your options, compare lenders, navigate the application process and structure your lending in a way that supports your longer-term financial goals.

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