Why?
Why do you want to buy?
Before you start property hunting, ask yourself the single most important question: why are you buying? Answering that honestly will keep you grounded during the noisy, emotional parts of the process.
Common reasons (and what they mean)
You hate your landlord. You want control and stability — fewer sudden rent rises or unexpected inspections.
Family pressure or cultural expectations. This can be real motivation, but make sure it aligns with your financial comfort.
You think it’s a smart investment. Owning property can build wealth, but remember investment choices and owner-occupied choices are different. (See the investment chapter.)
You want to make it your own. If you’re excited to renovate, decorate, or “put holes in the wall,” that’s a legitimate reason — but expect extra cost and effort.
Planning for a family. Needs change quickly once kids arrive: space, outdoor areas, and school zones typically move up the list.
You may have several reasons — but pick one main motivation. Write it down as a short, single-sentence mission statement. Example: “Buy a 2–3 bedroom family home within 20 minutes of the CBD with room to add value.” Put this at the top of your search folder and refer back to it when tempted to bid on something that doesn’t fit.
What do you want from your property?
Auckland’s market is diverse — apartments, villas, bungalows, modern townhouses, and sections for building. Before you look, build two lists:
Must-haves (non-negotiables) — things that if missing, you walk away. Nice-to-haves (deal sweeteners) — things you’d accept if the price is right.
Use a simple scoring system while viewing properties: mark must-haves as ✔ or ✖, and score nice-to-haves 1–5. If any must-have is missing, that property fails. This stops emotion from overruling practical requirements.
Common factors to consider (examples relevant to Auckland):
Proximity to public transport and arterial routes (CRL, Northern Motorway, bus corridors).
Amenities: supermarkets, medical, cafés, parks.
School zones and future zoning changes.
House type and era (character villa vs modern build — each has different maintenance needs).
Number of bedrooms and usable living space.
Outdoor space, sun orientation, and issues like drainage or steep sections.
Body corporate rules and fees (for apartments/townhouses).
Flood risk, liquefaction and earthquake-prone building status — investigate early for older or waterfront properties.
How much do you want to pay?
Money is the other half of the decision. Don’t set a budget from a wishful headline number — build it from reality.
Work through this simple affordability checklist:
Estimate deposit — how much you have now and how much you can save. Remember: a larger deposit can reduce mortgage insurance and sometimes gets a better rate.
Get pre-approval — a bank or broker will give you a realistic borrowing limit based on your income, commitments and LVR rules. This is different from what you want to spend.
Budget for upfront costs — solicitor/conveyancing fees, LIM report and building inspection, lender valuation, mortgage setup fees, and (if applicable) a higher deposit to avoid lender’s mortgage insurance.
Budget for ongoing costs — mortgage repayments, rates, insurance (building + contents from settlement day), body corporate fees, and a maintenance buffer (start with at least 1–2% of the purchase price per year as a guideline).
Stress-test the repayments — what happens if interest rates rise by 2–3% or your household income changes? Will you still be comfortable?
Hidden or one-off costs — immediate repairs, pest treatment, moving costs, or temporary accommodation if settlement timing changes.
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