Buying your first home is one of the most exciting things you will do, but at the same time, it can be scary navigating all the steps involved, particularly if you decide to go it alone.
We have good news for you – Cole Murray has a team of Mortgage Advisers who can help you navigate all the steps and achieve your dream of homeownership. It’s a service that comes at no cost to you* and puts your interests first. Check out more about how a Mortgage Adviser can help.
If you do choose to let us help you on your homeownership journey, we will pair you up with one of our advisers for the whole journey. Don’t be surprised if at the end of the journey your Mortgage Adviser is cracking the champagne with you – they get such a kick out of seeing their clients achieve their dreams.
Here are the 10 steps you will need to navigate, with the help of your Cole Murray Mortgage Adviser.
Step 1: Contact a Cole Murray Mortgage Adviser
If you’re looking to buy your first home, your borrowing power is a key number to know. Of course, most lenders offer online calculators to help you work out a rough estimate. By getting professional mortgage advice from us you will not only have a more precise figure, but you’ll also be ahead of the curve.
Step 2: Get your mortgage pre-approved
Getting pre-approved is a great way to be prepared before you even start house hunting. Our Mortgage Advisers will take a good look at your financial situation and reach out to their strong network of potential lenders to verify your eligibility to borrow.
Step 3: Secure grants and subsidies
KiwiSaver, First Home Grant… Any help you can get will go a long way in grabbing the keys to your first home.
We will investigate whether you’re eligible for any of the first-home buyers’ benefits grants and subsidies.
Step 4: Identify your ideal property
Once you’ve worked out a reasonable budget, here comes the fun part: looking for a house that fits your needs and wants. What property type are you looking for, based on location, property specs and floor plan?
Step 5: Build your ‘dream team’
Purchasing a home comes with a lot of paperwork, so it’s important to get independent legal advice by getting your Solicitor on board early to help with the detail. But this is not all. To make sure that your home-buying journey goes smoothly, you’re likely to need to use services from a multitude of organisations such as:
- Real estate agents
- Mortgage advisers
- Property Valuers
When you are ready to build your ‘dream team’ your Cole Murray Mortgage Adviser will help you bring everyone together.
Step 6: Open homes, open homes, open homes
This is when the house hunt really begins. But before you fall in love with a property, don’t forget to check for damage, mould, cracks, and any other potential issues. Also, consider getting a Building Report to ensure the house is in good condition. It may cost you a little extra, but the peace of mind you can achieve is priceless.
Step 7: Make an offer
Found your dream home? Then, depending on the method of sale, you should be able to make an offer. Exciting, isn’t it? Once again you will be able to talk to your Mortgage Adviser to answer any questions you may have.
Step 8: Get final approval
Before you can finalise the purchase, the lender may need a registered valuation – it’s just another key step to ensure that your first home is a sound investment. Your Mortgage Adviser can assist with this to guarantee you get it right for the lender.
Step 9: Structure your loan
Your Mortgage Adviser will be able to help you choose the right structure and interest rates for your situation. And they will continue to be in your corner long after the ink has dried, to help you make sure that your mortgage keeps up with your circumstances.
Step 10: Protect your investment
Congratulations, you’re a homeowner! It’s time to enjoy that ‘milestone feeling’, and of course, make sure your investment is protected.
From Home & Contents Insurance to Mortgage Protection and Life Insurance, there are many options available. If you’d like to find the right level of coverage, our friendly Insurance Advisers will be happy to help you meet your needs.
Your Cole Murray Mortgage Adviser is with you for the long haul. We can assist you to re-fix your loan rate, enable loan top-ups, buying your next property whether it is your home, investment property, land, or commercial/industrial investment.
If you are ready now to buy your first home or just wanting to work out what is possible for you then please get in touch FOR A 30 MINUTE NO-OBLIGATION, NO-COST REVIEW.