A guide to buying your home in Blockhouse Bay

Buying a home is one of life’s biggest milestones, and we believe it should be an exciting and confident journey. Whether you’re a first-time buyer or looking for your next property, this guide walks you through the process step by step. We’re here to make the complex simple and help you find a place in Blockhouse Bay you’ll love to call home.

A snapshot of Blockhouse Bay in numbers

Understanding the local landscape is key to making a great property decision. Blockhouse Bay is a vibrant, diverse, and well-established community. Here are some key figures from the 2023 New Zealand census and recent market data:

• Population: The suburb is home to a community of 13,107 residents.
• Median Age: The median age is 38.6 years, closely reflecting the national median and indicating a balanced community of families and established professionals.
• Cultural Diversity: It’s a truly multicultural suburb, with 55.8% of residents identifying as Asian, 33.5% as European/Pākehā, 10.9% as Pasifika, and 6.1% as Māori.
• The Property Market: The median asking price for a home in Blockhouse Bay is approximately $1,000,000. Properties here typically sell in around 33 days.
• Housing Style: The area is known for its solid housing stock, with the majority of homes originally constructed in the 1960s.

How do I start the home buying process?

The very first step, before you even start looking at listings, is to get your finances in order. Knowing exactly what you can afford gives you confidence and shows sellers you’re a serious buyer.

• Understand your deposit: Work out your total deposit, which includes your savings and any funds you can access from KiwiSaver or a First Home Grant. While most lenders prefer a 20% deposit, some options like the First Home Loan are available for eligible buyers with as little as a 5% deposit.
• Get mortgage pre-approval: This is your green light for house hunting. A mortgage adviser or bank will assess your income, expenses, and deposit to give you a clear budget. Pre-approval makes your offer more competitive and sets a realistic price range for your search.

How do I find the right property?

Once you have your budget, the search begins. This is about matching your lifestyle needs with the right location and home.

• Define your must-haves: Think about what you truly need. How many bedrooms? Do you need to be in a specific school zone? How important is the commute to work?.
• Research Blockhouse Bay neighbourhoods: Spend time in the areas you like. Visit at different times of the day to check for traffic and the general atmosphere. Explore the local parks like Blockhouse Bay Beach Reserve and the Recreation Reserve, with their popular playgrounds, walking tracks, and sports fields. For families, the suburb is well-served by excellent schools, including Blockhouse Bay Primary, St Dominic’s Catholic Primary, Glenavon School, and Blockhouse Bay Intermediate.
• Visit open homes: This is the best way to get a feel for the market and what your money can buy. Don’t be afraid to ask the agent questions about the property’s history, recent sales in the area, and why the owner is selling.

What should I check before making an offer?

When you find a home you love, it’s time for due diligence. This crucial step involves getting independent reports to ensure the property is a sound investment and there are no hidden surprises.

• LIM Report: A Land Information Memorandum (LIM) from the council provides a summary of what it knows about the property, including permits, zoning, and any known hazards.
• Builder’s Report: Always get an independent building inspection. A qualified inspector can identify any structural issues or potential costly repairs. A $600–$900 inspection can save you from tens of thousands in unexpected repairs down the line.

How do I make an offer?

Once your due diligence is complete and you’re ready to proceed, it’s time to make an offer. How you do this depends on the method of sale.

• Auction: Bidding happens live, and if you win, the sale is unconditional. You must have all your finance and checks completed beforehand.
• Tender or Deadline Sale: You submit your best offer by a set date. You can usually include conditions (like finance approval), but you won’t see what others are offering.
• By Negotiation: You work with the agent to make an offer and negotiate the price and terms. This is often a flexible option for buyers.

What are the hidden costs of buying a home?

The purchase price isn’t the only cost. It’s important to budget for additional one-off expenses, which typically total between $8,000 and $15,000 beyond your deposit. Key costs include:

• Legal fees: For your solicitor or conveyancer, typically $1,500–$2,500.
• Building inspection report: Around $500–$900.
• LIM report: From the council, usually $300–$450.
• Registered valuation: If required by your bank, this can cost $600–$800.
• Moving costs: Can range from $1,500–$2,500.

What happens on settlement day?

Settlement day is when the ownership of the property officially transfers to you. Your lawyer will handle the transfer of funds to the seller’s lawyer. Once the payment is confirmed, you can collect the keys from the real estate agent and start your new chapter as a homeowner.