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Helpful Information for First Home Buyers

Congratulations, you have decided to buy your first home! It is a big decision that leads down a path of discovery and learning. It can feel daunting at times with an overload of information, sometimes conflicting.

You may be looking to build a brand-new home to your taste or buy a house and land package allowing some personal touches. Perhaps a newly built home that you can move into today is more what your need.

Below we cover some reasons and benefits of buying a new home as well as some helpful tips to help you on your journey.

KiwiSaver Logo


Did you know that you may be able to use your KiwiSaver savings to help with your first home deposit? As long as you have been in Kiwisaver for at least 3 years, you can withdraw from your fund to use towards your first home. Other conditions may apply. This is a great way to make your dream of owning a home a reality!

Benefits of Buying New

Lower deposit

When building a new home, you may not need as big of a deposit as you would if you were buying an existing property. This is because loan-to-value restrictions that limit lending to low-deposit borrowers don’t apply to new builds. Speak with a mortgage broker or your bank to discuss your options and find the best solution for your unique situation.

Lower maintenance

Compared with older homes, new builds are at less risk of needing significant and costly repairs. Design your landscaping to your desire garden maintenance preference. If you love gardening, you might plan some annual and perennial flower beds, and some hedges. If not, make sure you let your landscape architect know so they can keep high maintenance features out of your design.

Master Build Guarantee

When you’re searching for builders, it’s a great idea to find ones that are Registered Master Builders.

The Master Build Guarantee offers protection against any potential problems. The guarantee will cover lost deposits, incomplete work, materials, workmanship, and structural defects for 10 years after completion. This gives you peace of mind throughout the entire building process and even after you move into your new home.

Tips for First Home Buyers

1. Apply for a home loan pre-approval early

Having a clear understanding of your budget upfront is one of the most important steps when it comes to building a new home. Knowing exactly how much you can afford to spend can give you a sense of control throughout the entire process. You can focus on finding creative ways to make the most of your resources and build the home of your dreams within your means.

2. Relationships are key

Creating positive relationships is key when building your dream home. Take your time and research the services involved in your project, such as your lawyer, mortgage broker, and building company. Meeting people in person will help you decide if they are the right fit. Good relationships will make the building process less stressful and more enjoyable!

3. Check what's in your build contract

Thoroughly read your build contract to understand what it includes. For example, does it cover landscaping? Knowing this can help you plan your budget and figure out if you’ll need to handle the landscaping yourself. It’s always better to be well-informed upfront, so you can avoid any surprises or unexpected costs down the road.

4. Location for longevity

Consider your lifestyle and the amenities you require when choosing where to live. It’s important to have easy access to things like schools, doctors, and supermarkets.

Silverstream is in an excellent location, offering everything you could need within walking distance. The Northern Motor is right there giving you quick access to Christchurch and the surrounding areas.

Building your home in a desirable area with convenient amenities nearby is a wise investment for the future. Property values in sought after areas tend to appreciate over time.

If projections are accurate, Kaiapoi will see a 41% increase in its population over the next 25 years. This will increase demand for property in Silverstream, making it a smart choice if you are thinking about on-selling in the future.

Ready to start looking for your dream home? Explore our purchasing options & lingo page to learn more.

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