The Edinburgh Realty eNewsletter

Issue #105 | January 2022


Six top tips for buying property in 2022

If your new year resolution is new property, there are a few things you can get under way now, so when you’re ready to hit the market, you’ll hit the ground running. Check out our six top tips for buying property in 2022.

1. Know what you want. List everything you would want or need in a property - the non-negotiables, and the nice-to-haves. Think about garaging, rooms, outdoor space, and nearby schools and amenities.

2. Tackle odd jobs to add value. If you’re selling a current property in order to make the move, figure out which wee touch-ups will add up to the biggest return.

3. Bring your best budget. Before your household budget meets your bank manager, cast a critical eye. Does it need a haircut, matching socks, shirt tucked in a little? Trim spending and clear any debt you can, to get your accounts looking sharp before you need to borrow.

4. Build brand new. The loan-to-value ratio (LVR) rules can make lending friendlier for building over buying. Buying a section for a new-build could be a good option to get your foot in the door.

5. Hit up your KiwiSaver. If the home you’re buying is your first, it’s time to look at your KiwiSaver account and its risk profile. Find out what’s involved in applying for the First Home Grant, and any special lending packages offered by your bank.

6. Get good people behind you. Ask around to find professional specialists in your market. The right real estate agent and mortgage broker will help you put your best buying foot forward in 2022.