The home buying process: Getting started

So, you've saved up your deposit – what’s next? Buying a house can be overwhelming, especially if you haven't done it before. We're breaking down the process step-by-step, so you know what to expect and what you need to do to make your goal of owning a home, a reality.

Getting pre-approved

Sorting your deposit is the first tick in the box, getting pre-approval is tick number two. 

Before you start house-hunting, the first thing you should do is meet with us to work out how much you can afford. We'll determine how much you can borrow based on the information you provide us, such as your income, employment history, and any debts or assets you may have. We'll then give pre-approval to spend up to a certain amount of money, based on certain conditions. 

When you're ready to chat with one of our team, you'll need to provide the following documents:

  • Evidence of your income if your wages aren't deposited directly into a TSB account (three months' bank statements and your two most recent pay slips).

  • Or, updated financial statements for the last two years if you're self-employed.

  • Six months of statements for any credit cards, hire purchases or personal loan facilities.

  • Photo Identification (Driver's License or Passport - these may need to be certified).

  • Letter from your KiwiSaver provider confirming the amount of KiwiSaver funds you have available for your deposit

You may need to supply additional information, but we'll let you know everything you need to bring along when you book an appointment.

the home buying process: getting started

House hunting

Once you've got your deposit together and have sorted your pre-approval, you're ready to put a 'house wishlist' together and start house hunting! 

Most of your free time will be filled up with looking at house listings online and visiting open homes, but it can take a while before you find the right house to buy. Try not to be too impulsive or feel disheartened if the house-hunting process is taking a little longer than you'd like it to – if you stick with it, you'll eventually find a home that's perfect for you.

If you do feel like you're struggling to find something you like, have another look at your wishlist. Does it still reflect what you want in a home? Or, are there things that you're willing to compromise? Your first home is your first step onto the property ladder and doesn't necessarily have to be your dream home, but you do want to be happy with the house you're purchasing as it's a big financial commitment to make.

House-hunting is one of the most fun and exciting parts of the process, and the more houses you look at, the more you'll get a feel for what you do and don't like. Not sure where to begin? Check out our helpful guide - What to remember when house hunting: 6 things to look out for.

If you’re ready to take the next step in the home buying process, get in touch with us and we can help you get the ball rolling.