Top 3 tips help you buy your dream house easy

2021-03-12

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First home buyers appear to be getting squeezed from the market as investors snap up a large share of properties. It came as New Zealand’s house prices were more than 10 per cent higher than last 12 months.Recently, some banks have announced tougher LVR (loan-to-value ratios) rules – investors need a minimum 40 per cent deposit while owner-occupier still need a 20 per cent deposit, start taking the heat out of the market. Still, the prices are rising too high and stretching beyond the limits of many first home buyers. Some of them are str...

Recently, some banks have announced tougher LVR (loan-to-value ratios) rules – investors need a minimum 40 per cent deposit while owner-occupier still need a 20 per cent deposit, start taking the heat out of the market. Still, the prices are rising too high and stretching beyond the limits of many first home buyers. Some of them are struggling harder with ever-rising property values.

Because we help many first home buyers on the daily, we understand the process and the barriers along the journey. So we thought we’d put together three top tips for first home buyers so that you know how to set up your buying rule, especially if you can’t afford your dream home in today’s market.

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Topics Covered:

1. Getting on the property ladder as soon as possible - 01:08

2. Focus on equity - 01:50

3. Buy an existing house rather than a new build - 04:37

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Prosperity Finance – here to help

If you would like to get more tailored advice, please feel free to get in touch. We are happy to review your situation and let you know how we can help. Call us at 09 930 8999 or email support@profin.co.nz for a chat with one of our mortgage advisors.

As mortgage brokers based in New Zealand, we can help you to achieve your financial goals. No matter you are first home buyer, property investor, or looking for buying a commercial property, or if you are a construction builder or developer, we're here to help.

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