Moving to New Zealand is one thing…
But making it feel like home, that’s something else entirely.
For many of us, that moment comes when we buy our first home.
Not renting.
Not asking permission to hang a picture.
But having something that’s yours.
And the big question is:
Is that even realistic as an immigrant?
In this part of the Migration & Money series, I sat down with Ivandee from Migrant Financial Services to unpack exactly that, how you actually get there.
First things first – it is possible
There’s a lot of noise out there right now:
- “You’ll never afford a house in NZ”
- “It’s too expensive”
- “It’s not realistic anymore”
And while yes, it’s not easy, it’s also not out of reach.
But it does require:
- planning
- discipline
- and starting early
That’s the difference.
Where do you actually start?
The biggest mistake people make is jumping straight into:
- visas
- job hunting
- selling everything
Without asking:
Can we actually build a life here long-term?
When it comes to buying a home, the real starting point is:
1. Understanding your financial position
2. Creating a realistic plan
3. Starting early (even years before buying)
Most immigrants, if they’re not bringing cash, are looking at, a 3–5 year journey to get deposit-ready.
The biggest challenge: The deposit
Let’s be real, this is the hardest part.
But here’s something important most people don’t realise, you don’t always need 20% deposit.
What’s actually possible:
- 10% deposit → common and achievable
- 5% deposit → possible (but higher interest, more risk)
So yes, the lower the deposit:
- the higher the interest rate
- the tighter your financial position
But it can be done.
The mistake that will slow you down
This is a big one and it came through clearly:
Debt is your biggest enemy early on
Especially:
- car loans
- personal loans
- lifestyle upgrades too quickly
It’s tempting, you land, you start earning, you want to rebuild your life, but every dollar going into debt
is a dollar NOT going into your home deposit
The mindset shift (this is the hard part)
This is where it gets real.
A lot of us come from a life where we had:
- the car
- the house
- the lifestyle
And now… we start again.
That requires, discipline, patience and letting go of short-term comforts, because the goal is bigger.
Owning your home in a new country
What helps you get there faster
There are a few smart moves that can make a big difference:
- Use KiwiSaver
- Helps build your deposit over time
- Can be used when buying your first home
- Two-income strategy
- One income = living
- Second income = saving
- Start early, even if you’re:
- 2–3 years away
- still on a work visa
Start now, not later
What banks actually look for
When it comes time to apply banks care about:
- your income stability
- your savings habits
- your debt levels
Simple.
One interesting tip shared, having relationships with different banks (e.g. split accounts)
can give you more options when applying.
Costs people don’t think about
There are a few extra costs to plan for:
- Property valuation (~$1,000)
- Lawyer / conveyancer (~$2,500)
- Potential building reports
The good news? Banks often give cashback (up to ~$5,000), which can help cover these costs.
What about interest rates?
You’ll hear terms like:
- fixed
- floating
- split loans
Simple way to think about it:
- Fixed → stability (locked rate for a period)
- Floating → flexibility (can repay faster)
- Split → balance between both
This is where working with someone like Ivandee really matters, it’s tailored to you.
One important rule (residency)
If you arrive in NZ already as a resident:
You must be living in NZ for 12 months before buying property
But if you:
- come on a work visa
- then transition to residency
You can buy sooner once residency is granted
The biggest takeaway
If there’s one thing to take from this:
Don’t wait until you’re “ready” to buy
Start the conversation early.
Even:
- 2–3 years out
- before you have the deposit
- before you fully understand everything
Because that’s how you build a plan, and once you have a plan, it becomes real.
Final thought
Buying a home in New Zealand as an immigrant:
- isn’t easy
- isn’t quick
- isn’t guaranteed
But it is possible.
And for many of us…
That’s the moment it truly starts to feel like home.
Want help figuring this out?
Inside the Soft Landing Inner Circle Community, we help you:
- understand your financial reality
- map out your timeline
- connect with trusted experts
- learn from others doing the same
Join the Soft Landing (free) community and get clarity before making big immigration decisions.
Click here to join the Soft Landing Inner Circle Community.
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