You’ve just made the big decision: It’s time to enter the property market. Your head is buzzing with questions and you want to make sure you’re getting all the right answers.
Velocity Financial are property experts who will make the process of buying your first home smooth and stress free. We’ll make sure all your bases are covered and answer your first home buying questions.
Saving and borrowing:
Velocity Financial will make sure you’re comfortable with how much to save and borrow. No one wants to end up on a diet of Cornflakes for their first years as a homeowner.
We’ll let you know what you’re eligible for with your KiwiSaver, as this will be the first time you’re able to get your hot little hands on those contributions.
When it comes to borrowing from banks, there are inclusive fees. It’s good to get your head around these fees and often unexpected costs before diving in head-first. Velocity will also advise on housing rates and body corporate fees if they are applicable to your new home.
Floating, Fixed, Capped, Interest Only? … Don’t get bogged down by mortgage jargon. Your first mortgage will probably be the biggest financial commitment you’ll ever make, but it doesn’t have to be the most stressful.
We’ll make sure you’re choosing the best type of mortgage to suit your financial situation and that you’re taking all the right steps to get the best deal.
The fun begins when you start looking at what kind of property you’re wanting to buy. Whether it’s an inner city town-house or ‘that one with the picket fence’, Velocity Financial will make sure you’re aware of everything that accompanies each type of property.
While most people know about avoiding the best place in the worst street, there are other location tips to keep in mind when buying a house. Research and learn the area of your potential new home. Velocity will help you each step of the way with any location questions you might have.
When it comes to the purchasing part, there’s a big difference between buying via Auction, Tender and Private Sale. Velocity financial will break it all down so you’re comfortable with the buying process involved.
We realise that with a new mortgage, it can feel like you need to cut other expenses. We recommend our clients budget for between 2.5-4% of their gross salary towards Life, Health and Medical insurance.
Usually 2.5% would get the barebones package, and 4% giving them full cover. At 4% of gross salary, you should be able to sleep easy knowing that the most unforeseen events can be taken care of financially.
We recommend getting the full amount of cover that your budget can afford so that, when the time comes, you have the money you need.