How to buy a house in New Zealand: a 2026 step-by-step guide

1. Get your finances in order

Before you look at a single listing, lenders want to see at least a 10% deposit (20% if the property is an investment, under current Reserve Bank LVR rules). Most buyers combine:

• Cash savings — held in your name for 3+ months (lenders will want statements).
• KiwiSaver first-home withdrawal — you can withdraw all but $1,000 if you've been a member for 3+ years and the home will be your primary residence.
• First Home Grant — up to $10,000 for an existing home or $20,000 for a new build, subject to income and price caps (check Kāinga Ora's current thresholds for your region).
• Gifted deposit — allowed by most banks but typically requires a gifting certificate.

Order a free credit report from Centrix or Equifax and clear any defaults before applying.

2. Get pre-approval (conditional approval)

A pre-approval is a written commitment from a lender to lend you up to a specific amount, subject to conditions (usually valuation and confirmation of the property). It typically lasts 3–6 months. You can apply directly to a bank or via a mortgage adviser — advisers see rates from multiple lenders and don't usually charge the buyer a fee.

Pre-approval is not legally binding for the bank, but without it you can't make an unconditional offer with confidence.

3. Choose your lawyer or conveyancer

You need a lawyer (or licensed conveyancer) before you sign a Sale and Purchase Agreement, not after. Expect to pay $1,500–$2,500 for a standard residential purchase. Ask up front whether the quote includes:

• Reviewing the agreement and title
• Reviewing the LIM
• Lender liaison and loan documents
• Settlement and registration with LINZ
• AML/CFT verification

4. Search and shortlist

Most NZ listings appear on TradeMe Property and realestate.co.nz. Useful free public data when shortlisting:

• QV.co.nz — rateable value (RV) and recent sales history.
• homes.co.nz — estimated values and sale history.
• OneRoof — suburb-level price trends.
• Council GIS maps — zoning, flood overlays, and overlays for character/heritage.

Visit shortlisted properties at different times of day. Drive the commute. Walk the block.

5. Make a conditional offer

Most offers in NZ are made on the standard ADLS / REINZ Sale and Purchase Agreement (10th Edition). Conditional offers typically include:

• Finance condition — usually 10–15 working days.
• LIM condition — Land Information Memorandum from the council, 5–10 working days.
• Builder's report condition — 5–10 working days.
• Title and approval condition — solicitor reviews title and easements.
• Toxicology / methamphetamine test — increasingly common.

For auctions you must do all of this before bidding — auctions are unconditional from the moment the hammer falls.

See our deeper guide: Conditional vs unconditional offers in NZ.

6. Due diligence

Due diligence is where most deals fall over — and where most expensive surprises happen if it's done badly. The minimum checklist:

• LIM report from the council
• Independent builder's report (NZS 4306-compliant)
• Title search (your lawyer pulls this)
• Insurance pre-approval — especially in flood zones, coastal areas, or unreinforced masonry
• If body corporate: minutes, long-term maintenance plan, current levies, disclosure statement
• Methamphetamine test (NZS 8510)

Walk through the full NZ due diligence checklist.

7. Going unconditional

Once every condition is satisfied or waived, you confirm in writing through your lawyer. The deposit (typically 10%) becomes payable to the agent's trust account, held until settlement. From this point you are legally committed — pulling out costs you the deposit at minimum and potentially damages.

8. Settlement

On settlement day your lawyer transfers the balance to the seller's lawyer and registers the transfer with LINZ. Keys are released by the agent. Order home insurance to start at 12:01am on settlement day — you bear the risk from the moment you sign unconditional, but the cover is mandatory from settlement.

9. After settlement

Within the first month: change the locks, transfer utilities (power, gas, internet, water if separately metered), update your address with IRD and the electoral roll, register any warranties (especially for a new build), and take meter readings.

Frequently asked questions