MMS #75 | What you need to know before buying your first home

Buying your first home can feel exciting, overwhelming, and full of unfamiliar jargon, forms and deadlines. In this episode of Money Made Simple, Liv and Jennie break down the first-home buying process into three key stages: getting your finances ready, making an offer and doing your due diligence, and understanding what happens from going unconditional through to settlement.

This is a practical, plain-English guide to help you understand what’s coming, feel more prepared, and avoid being caught off guard when buying your first home.

This episode covers:

• Checking whether you can use your KiwiSaver for your first home and how much you can withdraw
• Getting mortgage pre-approval and understanding your borrowing limit
• Working with lenders, mortgage brokers, lawyers and building inspectors as your home-buying 'team'
• How different house sale types work in NZ
• What "due diligence" means, and what it can cost
• What “going unconditional” actually means (and when it happens)
• Why insurance needs to be sorted before settlement on your new home
• Applying for your KiwiSaver withdrawal at the right time
• What happens on settlement day
• Common watchouts to understand while buying your first home

Helpful links:

- Sorted first home buyer resources

- Simplicity Home Loans

- Simplicity KiwiSaver first home withdrawal information

Please remember, this podcast is general in nature and does not take into account your personal financial situation. Simplicity is not providing financial advice or home loan advice in this episode.

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Disclaimer: This podcast contains personal opinions and is intended to provide educational information only. It doesn't relate to your particular financial situation or goals and is not financial advice or recommendations. Simplicity New Zealand Limited is the issuer of the Simplicity KiwiSaver scheme and investment funds. For product disclosure statements please visit Simplicity's website simplicity. kiwi.