First Home Buyer All-In Cost Calculator NZ

This calculator works out the total cash a first home buyer in New Zealand actually needs to get the keys, which is always more than just the deposit. The deposit is the headline number everyone saves toward, but it is only the largest piece of the upfront cost, and buyers who budget for the deposit alone get a nasty shock when the settlement statement and the bills arrive. On top of the deposit you need cash for legal and conveyancing fees, a building inspection so you know what you are buying, a LIM report from the council, a registered valuation if your bank requires one, the cost of physically moving in, and setting up house and contents insurance, which the bank will insist is in place at settlement. You enter the purchase price and your deposit percentage, then the legal, inspection, LIM, valuation, moving and insurance costs, and the calculator shows your deposit in dollars, the total of the other upfront costs, and the all-in cash you need ready. Use it to set a realistic savings target rather than aiming for the deposit alone, and remember a deposit under twenty percent can also trigger a low-equity premium. This is an estimate only, not financial advice; your lender and lawyer will confirm the exact figures.

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$76,950
total cash you need to buy
Deposit$70,000
Other upfront costs$6,950

Excludes any low-equity premium on deposits under 20%. KiwiSaver can fund the deposit but keep cash for the setup costs. Estimate only, not advice.

How it works

The deposit is the purchase price times your deposit percentage. The other upfront costs add the legal, inspection, LIM, valuation, moving and insurance set-up figures. The total cash needed is the deposit plus those other costs, which is the real amount you must have ready to complete the purchase.

Worked example

On a 700,000 dollar home with a 10 percent deposit, the deposit is 70,000 dollars. Adding 2,000 legal, 700 inspection, 350 LIM, 900 valuation, 1,500 moving and 1,500 insurance gives 6,950 dollars of other costs, so you need about 76,950 dollars in total.

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Data sources: the rates and thresholds on this page are maintained against Kainga Ora. Figures are checked twice monthly.

Frequently asked questions

What costs do first home buyers forget?

Beyond the deposit, first home buyers need cash for legal and conveyancing fees, a building inspection, a LIM report, a registered valuation if the bank requires one, moving costs, and setting up house and contents insurance. Together these add several thousand dollars.

How much deposit do I need?

Most banks want at least 20 percent for existing homes, though low-deposit lending and First Home Loan options can allow 5 to 10 percent. A smaller deposit may attract a low-equity premium, an extra cost on top of these.

Can KiwiSaver cover these costs?

A KiwiSaver first home withdrawal can go toward your deposit and purchase, but you must leave a minimum balance, and the withdrawal usually funds the deposit rather than the smaller setup costs, so keep separate cash for those.