First Home Buyer Total Cost Calculator NZ 2026/27
This calculator works out the total cash a first home buyer in New Zealand needs to bring to settlement, not just the headline deposit figure. Enter the purchase price of the home and the deposit percentage you plan to put down, whether that is the standard 20% most banks ask for, or as low as 5% if you qualify for Kainga Ora's First Home Loan. Then add the other cash costs that come with almost every purchase: legal and conveyancing fees, a Land Information Memorandum (LIM) report from the council, a pre-purchase builder's report, a registered valuation, and your estimated moving costs. The calculator adds all of these to your deposit to show the total cash you need, alongside the resulting loan amount and loan-to-value ratio (LVR) the bank will be lending against. It updates instantly as you type, with no need to press a button. This matters because many first home buyers save exactly enough for the deposit and are then caught short by the additional two to five thousand dollars of costs that arrive in the weeks around settlement. Figures are rounded for display and are indicative only, since legal fees, LIM costs and inspection prices vary by region, provider and property, so treat this as a planning tool rather than a fixed quote.
On-cost estimates used: legal/conveyancing fees ~$1,600, LIM report ~$375, builder's report $400-$800 (default $600), registered valuation $700-$1,200 (default $950). These are typical New Zealand ranges and will vary by law firm, council and provider.
Moving costs: a general planning estimate (default $800), not an officially published figure. It varies widely with distance, volume and whether you hire professional movers, so replace it with your own quote.
KiwiSaver first home withdrawal: available after 3 years of membership, provided a minimum of $1,000 remains in the account.
First Home Grant: closed to new applications from 22 May 2024 (Budget 2024) and not reinstated. Not modelled in this calculator.
Last verified: July 2026, against current Kainga Ora, Reserve Bank of New Zealand and Inland Revenue guidance.
Source data: Kainga Ora, First Home Loan, Reserve Bank of New Zealand, macroprudential (LVR) policy, and Inland Revenue, KiwiSaver first home withdrawal.
| Deposit (10% of price) | $0.00 |
| Legal / conveyancing fees | $0.00 |
| LIM report | $0.00 |
| Builder's report | $0.00 |
| Registered valuation | $0.00 |
| Moving costs | $0.00 |
| Total cash needed | $0.00 |
What First Home Buyers Actually Need Cash For
The deposit gets all the attention, but it is rarely the only cash a first home buyer needs. Between signing a sale and purchase agreement and picking up the keys, most buyers also pay for a LIM report, a builder's report, and often a registered valuation, on top of legal fees. Add removalists and connection fees, and the gap between the deposit saved and the cash actually needed can run to several thousand dollars. This calculator adds those pieces together so you see the real number before making offers.
The Deposit: 20% Standard, or 5% with Kainga Ora's First Home Loan
Under the Reserve Bank's loan-to-value ratio (LVR) settings, banks generally restrict how much new lending can go to owner-occupiers with less than a 20% deposit, which is why 20% has become the default expectation. First home buyers without a 20% deposit are not automatically shut out. Kainga Ora's First Home Loan, offered through Westpac, Kiwibank and SBS Bank, lets an eligible first home buyer borrow with as little as a 5% deposit, with Kainga Ora underwriting the extra risk the bank would otherwise carry. New build properties are also exempt from the standard LVR speed limits.
Legal and Conveyancing Fees
A solicitor or licensed conveyancer handles the legal side of your purchase: reviewing the sale and purchase agreement, running title searches, managing the settlement funds, and registering the transfer of ownership. Fees typically run around $1,600 for a straightforward residential purchase, though this varies by firm and by how much extra work is involved, for example if the property is cross-leased, unit-titled, or has unusual title conditions. Get a fixed-fee quote in writing before you engage a solicitor, since some firms charge on an hourly basis instead.
LIM Report
A Land Information Memorandum, or LIM, is a report the local council prepares summarising everything it holds on the property's file: consents and their sign-off status, rates owing, drainage and flood information, notices, and consented versus unconsented work. It typically costs around $375, though the fee is set by each council and differs between districts. A LIM is not a legal requirement, but almost every buyer makes their offer conditional on a satisfactory one, since it is one of the few ways to confirm the council's records match what you were told.
Builder's Report
A pre-purchase building report from a qualified inspector typically costs $400 to $800 and covers the structural, moisture and maintenance condition of the home, including the roof space, subfloor, and any signs of weathertightness issues. For an older home especially, this is one of the highest-value costs on this list: a report that flags a $20,000 reroofing job, or worse, moisture damage in the walls, can save you from a purchase you would regret. Most sale and purchase agreements include a building report as a standard condition, alongside the LIM and finance conditions.
Registered Valuation
A registered valuer's report, usually $700 to $1,200, gives an independent, qualified opinion of what the property is actually worth, distinct from the price you have agreed to pay. Banks commonly require one when your deposit sits below 20%, since they carry more risk and want confirmation the price is supported by the property's market value rather than the sale price alone. Some lenders accept a cheaper desktop valuation in straightforward cases, so ask your bank or broker what they will accept first.
Moving Costs
Moving costs are the most variable line here and are not drawn from any official rate sheet, they are a general planning estimate you should replace with your own quote. A small local move in a hired trailer might cost very little beyond your time, while a full-service removalist for a family home, especially over distance, can run into several thousand dollars. Get a quote once you have a settlement date, since prices shift quickly around weekends and month-end, when most people move.
Using Your KiwiSaver to Help Cover These Costs
Once you have been a KiwiSaver member for at least three years, you can generally withdraw most of your balance to help fund a first home, provided you leave a minimum of $1,000 in your account. This withdrawal is typically paid toward your deposit or purchase price through your solicitor's trust account, rather than being available for on-costs like the LIM report or moving expenses. Plan to have those covered from other savings, since they are usually due before or separately from your KiwiSaver funds arriving.
What Happened to the First Home Grant
The First Home Grant, which previously paid eligible buyers up to $5,000 for an existing home or $10,000 for a new build, was closed to new applications from 22 May 2024 under Budget 2024 and has not been reinstated. Do not include a First Home Grant in your figures. The main government support remaining is the KiwiSaver first home withdrawal above and Kainga Ora's First Home Loan, which lowers the deposit hurdle rather than adding a cash grant on top of your savings.
Worked Example
Emma and Josh are buying their first home for $650,000. They have saved a 10% deposit and plan to use Kainga Ora's First Home Loan, since they do not have the full 20% a standard loan would require. Their deposit is 10% of $650,000, which is $65,000. On top of that, they budget $1,600 for legal fees, $375 for a LIM report, $600 for a builder's report, $950 for a registered valuation, and $800 for moving costs, a further $4,325 in total. Adding the deposit and the additional costs together, Emma and Josh need $69,325 in cash to settle, and they will need to borrow $585,000, an LVR of 90%.
Compare that with a buyer putting down the standard 20% deposit on the same $650,000 home. Their deposit is $130,000, and the same $4,325 of additional costs brings their total cash needed to $134,325, with a smaller loan of $520,000 at an 80% LVR. The lower-deposit path through Kainga Ora's First Home Loan cuts the cash Emma and Josh need to find by $65,000, at the cost of borrowing more and paying interest on that larger loan for longer.
Who This Calculator Is For
This calculator suits anyone getting close to buying their first home in New Zealand and wanting a realistic total, not just the deposit figure they have been saving toward. It helps buyers weighing a standard 20% deposit against a lower-deposit path like Kainga Ora's First Home Loan, and anyone checking they have enough cash in reserve before making an offer.
What This Calculator Assumes
- Standard bank deposit expectations of around 20%, with Kainga Ora's First Home Loan allowing a minimum 5% deposit for eligible first home buyers.
- Legal fees, LIM report, builder's report and valuation figures are typical New Zealand ranges as at July 2026, and will vary by firm, council, region and property.
- Moving costs are a general estimate only, not an officially published figure, and should be replaced with a real quote.
- The calculator does not model insurance, rates adjustments, or a post-settlement cash buffer, which are worth budgeting for separately.
- Results are indicative only and do not constitute financial or legal advice.
Related Mortgage and KiwiSaver Calculators
- KiwiSaver First Home Withdrawal Amount Calculator: work out how much of your KiwiSaver balance you can put toward your deposit.
- Loan-to-Value Ratio Calculator: check your LVR and deposit percentage against the RBNZ lending settings.
- DTI Income Multiple Calculator: check your loan against the other RBNZ mortgage speed limit, the 6x/7x income multiple.
- Mortgage Calculator: work out repayments on the loan amount this calculator shows you will need.
- Borrowing Capacity Calculator: estimate how much a bank might actually lend you based on income and expenses.
- First Home Buyer Guide: background on this topic.
Official NZ sources
This calculator is built from primary New Zealand sources. Always confirm current figures against the official source for your situation:
- Kainga Ora: First Home Loan eligibility and participating lenders
- Reserve Bank of New Zealand: macroprudential (LVR) policy overview
- Inland Revenue (IRD): KiwiSaver first home withdrawal
Frequently asked questions
How much cash do I actually need to buy my first home in New Zealand?
More than just your deposit. On top of the deposit, budget for legal and conveyancing fees (around $1,600), a LIM report (around $375), a builder's report ($400 to $800), a registered valuation ($700 to $1,200), and moving costs. On a $650,000 home with a 10% deposit, that is roughly $69,325 of total cash, not the $65,000 deposit alone.
What deposit do I need to buy my first home?
Standard bank lending policy asks for a 20% deposit, in line with the Reserve Bank's loan-to-value ratio (LVR) settings. Eligible first home buyers can put down as little as 5% through Kainga Ora's First Home Loan, currently offered through Westpac, Kiwibank and SBS Bank. New builds are exempt from the standard LVR restrictions, which is why some lenders offer more flexible deposit terms on them.
What is a LIM report and do I need one?
A Land Information Memorandum (LIM) is a report from the local council summarising what it holds on file about the property: consents, rates, drainage, hazards and any notices. It typically costs around $375, though the exact fee varies by council. It is not legally compulsory, but almost every buyer's solicitor recommends one as a condition of the sale and purchase agreement, since it can reveal unconsented work or other issues before you commit.
Is a builder's report worth paying for?
For almost every existing home, yes. A pre-purchase building report from a qualified building inspector typically costs $400 to $800 and can uncover moisture, structural or maintenance issues that are not obvious on a walk-through. Finding a problem before you buy is far cheaper than discovering it afterwards, and most sale and purchase agreements include a building report as a standard condition.
Why do banks want a registered valuation?
A registered valuation, usually $700 to $1,200, gives the bank an independent, qualified opinion of the property's market value to confirm their lending security. It is most commonly required when your deposit is below 20%, since the bank is carrying more risk on a low-equity loan and wants confirmation the purchase price is supported by the property's value.
Can I use my KiwiSaver to help cover these costs?
You can withdraw most of your KiwiSaver balance toward a first home once you have been a member for at least three years, as long as you leave a minimum of $1,000 in your account. This withdrawal is generally paid toward the purchase price or deposit through your solicitor's trust account, rather than covering separate on-cost items like the LIM report, builder's report or moving costs, so plan to have those covered from other savings.
What happened to the First Home Grant?
The First Home Grant was closed to new applications from 22 May 2024 as part of Budget 2024 and has not been reinstated. First home buyers now rely mainly on the KiwiSaver first home withdrawal and Kainga Ora's First Home Loan, which lowers the minimum deposit to 5% for eligible buyers, rather than a cash grant on top of their savings.
What other costs should I budget for that this calculator doesn't include?
This calculator covers the main cash costs specific to purchasing, but also budget for building and contents insurance (most banks require this in place before settlement), a rates and utility adjustment on settlement day, connection fees for power, gas and broadband, and a buffer for immediate repairs or furnishing your new home.
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