Buying a house, apartment or a rental property
Learn about the house buying process. Work out what you can afford before you start looking at properties.
Before you start house hunting
If you’re thinking about buying you need to think about your goals and finances.
Buying your first home
Buying a home can be a complicated process, especially when you have not bought one before.
If you’re buying your first home, you may be able to get government help.
There are rules for buying or building residential property in New Zealand.
Checks to do before you buy
Work out how much the house you want to buy is estimated to be valued at.
Find out as much as you can about the property before you make an offer.
The agreement to purchase the house will not be finalised until you’ve satisfied all your conditions.
Get Land Information Memorandum (LIM) reports from your local council, and title searches from Land Information New Zealand.
Your lawyer should review both documents before the sale and purchase agreement is finalised.
How to spot signs of damage caused by a leaky home, including dampness, mould and rot.
Making an offer
A sale and purchase agreement covers the agreed terms and conditions of the sale or purchase. It is a legally binding document.
If you do not agree with something in the sale and purchase agreement, tell the real estate agent — and get your lawyer to check the agreement before you sign.
Providing your tax details
You may need to give your property lawyer (or the person doing your conveyancing) your:
- New Zealand IRD number
- taxpayer identification number from any overseas countries where you have to pay tax on your worldwide income (if you have one).
A taxpayer identification number is the number that a country’s tax agency gives you to pay tax. In New Zealand, our IRD number is our taxpayer identification number.
There is a tax exemption for income earned from the sale of your main or family home.
Buying a rental or investment property
If you buy a property that’s rented and the tenants have a fixed-term tenancy agreement, the tenants are entitled to stay until the date in the tenancy agreement and under the same conditions.
Find out about taxes when you have a rental property, what you can claim and what happens when you sell your rental property.
Problems with real estate agents
You can make a complaint against a real estate agent if you do not think they’re meeting the standards they have to follow.