Property guide · New Zealand
Costs of Buying a House in NZ — Complete Guide
Budget for New Zealand home-buying costs including legal fees, LIM, building inspection, valuation, insurance, settlement adjustments and moving expenses.
Reviewed 26 August 2026
Reviewed by KiwiTools editorial team — NZ property researchers using government, council and Inland Revenue sources
General information only, not financial, tax, lending or legal advice. Property, lender and council rules vary; obtain advice and current quotes for the specific purchase.
Key points
Home-buying costs beyond the deposit
Common pre-purchase costs include legal advice, a LIM, property inspection and sometimes a registered valuation.
Some investigation costs are payable even when the buyer does not ultimately purchase that property.
Keep settlement, moving, immediate repairs and an emergency reserve outside the deposit target.
Illustrative buying-cost budget before settlement
These are planning allowances, not market quotes. Get written scopes because a difficult title, specialist report or failed offer changes the total.
| Check | Example allowance | Paid even if purchase fails? |
|---|---|---|
| Legal/conveyancing | $2,000–$3,500 | Often, for work completed |
| Building inspection | $600–$1,000 | Yes |
| LIM and council records | $300–$500+ | Yes |
| Registered valuation | $800–$1,200+ | Yes |
| Moving and setup | Household-specific | Usually after success |
Legal and conveyancing costs
A lawyer or conveyancer can review the title, agreement, conditions, KiwiSaver documents, loan documents and settlement. Obtain a scope and quote because complexity and additional work can change the cost.
Engage the lawyer before signing. Saving the legal review until after an unconditional commitment can remove important options.
LIM, inspection and valuation costs
A LIM provides council-held property information, while an independent property inspection examines physical condition within its scope. They answer different questions and neither replaces legal advice.
A lender may require a registered valuation, particularly for some low-deposit or unusual-property applications. Ask who may order it and which valuers are acceptable before paying.
Related: first home buyer guide Related: house deposit Related: how much house can i afford
Finance, insurance and settlement costs
Allow for any lender or low-equity charges, insurance from the required date and adjustments shown in the settlement statement. Rates or other property outgoings can be apportioned between buyer and seller.
The purchase deposit specified in the agreement is part of the price rather than an extra cost, but its earlier payment date creates a cash-flow requirement.
Moving, repairs and the ownership reserve
Budget for moving, utility connections, cleaning, security changes, furnishings and urgent maintenance. A newly purchased home can expose costs that were not visible at an open home.
Keep a reserve after settlement. The home-buying costs calculator should be used as an itemised plan, not as a promise that every possible cost has been identified.
Frequently asked questions
What costs do first-home buyers pay in NZ?
Common costs include legal work, LIM, inspection, valuation where required, insurance, moving and settlement-related amounts.
How much are lawyer fees for buying a house?
Fees vary by provider and complexity. Request a written quote explaining included work and possible additional charges.
Do I need both a LIM and building report?
They address different risks: a LIM contains council-held information, while an inspection assesses physical condition within its scope.
Are buying costs included in a 20% deposit?
No. Plan purchase costs and a reserve separately so the full deposit remains available for the purchase.
Put the guide into practice
Continue with related KiwiTools calculators
Test your own numbers, compare scenarios and return to the guide to check assumptions and limitations.