FIRST HOME BUYERS

First home buyers hub

Why building new might be the smartest way to go
BENEFITS OF BUILDING NEW FOR YOUR FIRST HOME 

Design your home, your way 
When you build new, you can choose the colour scheme, carpet, curtains and countertops you love. It will be aesthetically pleasing and ‘Gram’ worthy from day one ;). Sure, it might cost a little more upfront, but you won’t have to spend money on expensive renovations.  

Ditch the DIYs and say hello weekend! 
When you buy new you won’t have to spend your precious weekends on DIYs - instead of getting acquainted with a paint brush, get to know your local café, walkways or mountain bike trails. You’ll also avoid unexpected surprises like having to re-roof or fix old leaky plumbing.  

New build comfort
The comfort that comes with living in a new home is next level. Say hello to the perks of modern living with benefits such as open plan living, WFH (work from home) nooks, ample storage and low maintenance gardens. Say goodbye to cold drafts, broken stove elements and crying windows. You won’t have to insulate old walls or retrofit windows with double glazing, because the jobs already been done. Plus, your power bill will be less thanks to the home meeting the latest building code.  

Early adopters make equity gains
Be an early adopter and build equity (value/wealth) in your home by purchasing a new home in a new subdivision before it becomes established. New neighbourhoods are designed with new facilities and parks. Once these facilities are developed and the vision comes into fruition, the neighbourhood becomes more desirable, and prices naturally increase. 

As little as 5% deposit for new builds Usually, you need a 20% deposit to get a home loan, this is often the biggest hurdle you will encounter when trying to get your foot on the property ladder. Some lenders offer as little as 5% deposit on new builds. They can do this because new builds are exempt from the Reserve Bank of NZ LVR (loan to value ratio) restrictions that require homeowners to have a 20% deposit. 

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Read next: How to boost your deposit

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