We’ve created this complete guide to buying your first home and have made it free to you.
Purchasing a home is one of the biggest financial decisions you will make in your life and so before you decide to buy you should carefully consider the pros and cons of home ownership. This guide is designed to help first home buyers whose may want more information to buying a home, and of course this is a complete guide with a huge amount of information.
We address the common issues that first home buyers may encounter, and also explain how to improve your chances of being approved for finance, plus what you should know about the finance and other offers too.
About Stuart Wills (the author and financial adviser)
My name is Stuart Wills and I’m a financial adviser with 25+ years experience doing mortgages and finance for first home buyers as well as many Kiwis that have not fitted the typical banks criteria.
When we started looking at what information was being provided we were very disappointed. Most of the banks have a bit of a handout but these do not tell you much and are really just to help promote the banks own home loans and people. Many mortgage advisers have created little e-books that you can download too, and these are generally very limited in the information provided.
After seeing that there was nothing much available, Stuart spent hours creating this guide to ensure that there was something that you could really learn from and then he decided that it should be free too.
This guide has been created to explain more about what any first home buyer should know, and with knowledge you should have the best chance of being approved so you can go ahead and buy your first home.
This is designed to answer most of your questions, but we’re always available to work through things with you too.
Your “Complete” Guide
You might have seen other guides and e-books and even downloaded and read them, but we would be certain that you have not seen anything with as much information as this has. It’s the reason that we called it the “complete” guide to buying your first home.
The book is broken down into 15 modules which step you through the process from when you first start thinking about getting your own home until when you move into your home and have to start managing your mortgage.
The modules are;
- Important Considerations With Home Ownership
- Understand The Three Biggest Hurdles
- How Much Can You Borrow?
- How Is Your Deposit Made Up?
- How Lenders Calculate Your Income
- How Lenders Look At Your Outgoings
- Credit Scores & Account Conduct
- The Different Banks & Lenders
- The Property Options
- Create Your Circle of Professionals
- Getting Pre-Approved Finance
- Shopping For Your New Home
- Loan Structure & Paying Your Loan Off
- Prepare For Settlement & Moving In
- Maintain Your Home & Finances
Most people have said that they do read the entire guide and more importantly that they have leaned a lot too.
Let’s have a look at Module # 2 which covers the Biggest 3 x Hurdles.
Buying your first home is probably not going to be easy, but having some understanding of the biggest hurdles will definitely make it easier.
Let’s have a look at what the three biggest hurdles are;
- Your Deposit
- Other Debt
- Your Income / Affordability
As a mortgage adviser I have seen these three issues raised far more than any others.
Many people believe that they cannot get the finance to buy their first home because of these very issues, and they have therefore given up on their dream to own their first home.
If they had looked into things a little more carefully they may have found that they could have in fact purchased a home. It may have meant using a different bank or lender and there may have needed to be a few adjustments made first, but ultimately they could have been living in a place of their own rather than still renting.
Once you have read the guide you will know more about what the banks and non-bank lenders are looking for and that means being in a better position to plan your way forward – to overcome or work around these types of issues.
It is certainly worth making the effort and seeing how to overcome these hurdles.
This is written by mortgage adviser Stuart Wills who is able to help you through the process and get you into a home sooner.
Kiwi First Home Buyers Group
Back in 2012 Stuart Wills created a Facebook Group for first home buyers.
This started off as a small group of first home buyers and a few professionals such as mortgage advisers, bankers, solicitors, valuers, builders and many others. The first home buyers were encouraged to ask questions and these professionals and other ordinary Kiwis could post answers and information to help. The idea was there would be no advertising or self-promotion and the advice given needed to be useful.
The concept must have hit the mark, as now there are over 180,000 members making this the largest forum for first home buyers in New Zealand. From something that we started to try and add another way to help, we have created a great resource for first home buyers.
You might also want to join our Facebook group which is a very large and active group called the Kiwi First Home Buyers Group. It’s free to join and a great place to observe what others say and ask, but also to ask your own questions.
