The essential guide for buying your new home

Transcription

1 The essential guide for buying your new home Proud to be a credit union and not a registered bank.

2 Introduction Make your dream home a reality with nzcu Welcome to IQ At NZCU Baywide we re not on your back, we re on your side and as such, we have developed this booklet for all of our valued and prospective members, who are looking to purchase a home. We understand that buying a home can be quite an emotional experience. Therefore, we hope this booklet will support you in making the best decision for your future. As always, our team are here to support you through this journey, so do not hesitate to call us if you have any questions. All the best. The team at NZCU Baywide. getting started Contents The home buying process 4 My home finances 5 Finding it hard to save? Reward your hard work Low to no deposit? Things to ask the agent 7 Your dream of owning your first home could be one big step closer. Ask about our Get Started Loan * with 100% lending on the first $200,000! If you ve made some good financial calls and have saved some money away, plus you ve got a good credit rating, then a Smart Call Loan * is for you. A low to no deposit Big Break Loan * could be your big chance to prove you ve got what it takes to own a home of your own! Professional services 8 My home wishlist 10 My home checklist 11 Phone 0800 BAYWIDE ( ) *Account opening and lending criteria apply. Credit Union Baywide, trading as NZCU Baywide, savings are shares secured by a first ranking registered Trust Deed. Current investment and disclosure statements are available on request from the Credit Union. NZCU Baywide is proud to be a credit union and not a registered bank. 3

3 The home buying process My home finances Your home buying search STARTS HERE: Talk to NZCU and get preapproval for your loan Find a home you love Working out your current household budget will help you see what you can afford and identify areas where you can save. The next couple of pages will help you cover off your current household budget and don t worry if it looks too scary, a friendly NZCU Baywide lender can help you work it all out. Current Household Expenses Real Estate Agent presents offer Put conditional offer in writing via your Agent Ask agent for surrounding area sales so you can estimate the right price Current Housing Expenses Weekly Fortnightly Monthly Rent $ Utilities (electricity, gas, phone, Sky, internet) $ Current Non-Housing Expenses Weekly Fortnightly Monthly Car (include fuel, WOF, registration, repairs/service) $ getting started Clothes $ Negotiation stage Offer accepted subject to your conditions Valuation and finance approval Education (school/day care fees, uniforms) $ Entertainment, recreation, dinners out, etc $ Groceries (include takeaways, cigarettes, etc) $ Insurance (include car, contents, life, etc) $ Medical expenses (prescriptions, doctor/dentist appts.) $ Arrange for all paperwork to be signed Solicitors approval Building inspection, LIM, council file check Savings $ Credit cards/hire purchases/loans Other (travel and any other expenses) $ Your total household expenses: $ Settlement date Move into the house of your dreams! Whether you re a first time buyer, refinancing or not quite fitting the big banks box we offer home loans to suit everyone. We look for the good in you, not the profit in you and we are looking forward to being a part of your home buying journey. 4 5

4 My home finances Things to ask the agent Working through this process with one of our friendly lenders will help you set a budget for your new home and gain pre-approved finance so you know what price range to start the search for your new home in. Call us on to make an appointment to see your friendly NZCU lender. Checklist to bring to your appointment: Completed budget (page 5) Proof of income Photo I.D 3 months of bank statements Statement of any other loans IRD number/s How long has the house been on the market? Why are the vendors (sellers) selling up? What is the Government Valuation? What are the rates on this property? Has there been much interest in the property? Do you have some house sales figures for houses that have sold in this area? Is there a Sky/satellite dish? Do you know if the house has been rewired (if old house)? Here is some space to jot down any other questions you might want to ask when you start the search for your new home. getting started Make sure you bring in these items with you to your appointment and we will be ready to work through a home loan application together and help get you one step closer to your dream home. Loan Worksheet What is your current net monthly household income (the money you and/or your partner earn AFTER tax)? $ How many children/dependants do you have and how old are they? How much money do you have saved? $ What are your total household expenses per month (use the total from page 5)? $ Your total home buying budget: $ NZCU Baywide takes no responsibility for the condition of the house or decisions of the purchaser based on the condition of the house. Any questions please contact a building inspector or registered trades person directly. 6 7

5 Professional services Professional services Real Estate Agents NZCU Baywide Lender Name: Appt date: Building Inspector Name/Company: getting started Building Inspection Cost: $ Valuer Name/Company: Valuation Cost: $ Lawyer Name/Company: Cost: $ 8 9

6 My home wishlist My home checklist Location Consider proximity to schools, work, public transport, amenities Extra notes e.g. all day sun, low maintenance aluminium joinery, villa, modern, plaster, weatherboard and anything else you would like your home to be. Price range: $ 10 11

7 My home checklist My home checklist 12 13

8 My home checklist My home checklist 14 15

9 My home checklist My home checklist 16 17

10 My home checklist Paperwork Insert here: Business cards Quotes Sketches Receipts, etc 18

11 Call the team or check out our website today: Phone (06) or 0800 BAYWIDE ( ) nzcubaywide.co.nz Join the conversation: Credit Union Baywide, trading as NZCU Baywide, savings are shares secured by a first ranking registered Trust Deed. Current investment and disclosure statements are available on request from the Credit Union. NZCU Baywide is proud to be a credit union and not a registered bank. *Normal account opening and lending criteria apply.