FAQ
Your Questions Answered
Frequently Asked Questions
Am I Ready to Be a Homeowner?
If you have a minimum of 5% deposit, are a New Zealand resident/ permanent resident or citizen, Australian citizen or a citizen of Singapore you maybe eligible to be a home owner.
Is Renting or Buying Better?
The average rent for a 3 bedroom property in Auckland is $700 per week (ref). A mortgage of $700,000 will cost $3,800 per month at current rates (ref).
For an extra $200 a week you can own your own home and pay your own mortgage instead of paying someone else’s.
What Do I Look for in Homes?
It is strongly suggested in New Zealand to get the following reports when buying existing properties (built outside the last 12 months).
- Builders report ($1,000 to $1,500)
- Methamphetamine report
- Property valuation ($800 to $1,500)
Do I Need a Home Warranty?
When buying new build properties you need to look for properties with a 10 year Master Builders Guarantee.
Download First Home Buyers PDF
What Should I Expect buying a Property?
OSPS works with industry professionals (lawyers, mortgage advisors) to guide and help you through the process of buying a property. These professionals will help you with what is needed to purchase a property in New Zealand.
What Is Pre-approval?
A pre-approval is an offer from the bank that indicates your maximum borrowing power to purchase a property.
How much should I offer to buy a property?
When buying Real Estate in New Zealand you should contact the bank or your mortgage adviser to get your maximum purchasing limit.
Secondly you should check the repayments for any mortgage you are seeking to ensure it is affordable for your situation.
Can I Ask You for Advice?
Whether property investor or first home buyer we have industry professionals that give free advice. Feel free to contact us to arrange an appointment.
Download our Freehold Your Home PDF (For Investors)
Have A Question?
Send us an equiry via our form or email us directly.
Or call us direct!