Quick Answer: Beyond your deposit, budget for a building inspection ($400-$800), a LIM report ($300-$400), legal fees ($1,400-$2,000), house insurance from settlement day, loan establishment or valuation fees, and moving costs - together often adding $3,000-$6,000 on top of the purchase price.
Pre-Purchase Costs You'll Pay Before You Even Own It
Several costs land before settlement, whether or not the purchase goes ahead. A building inspection typically costs $400-$800 depending on property size and inspector, and a LIM report from the local council usually runs $300-$400. If you need a registered valuation for your lender, add another $700-$1,000.
Property lawyers in NZ charge $1,200-$2,500 for a standard purchase, covering title checks, reviewing the sale and purchase agreement, liaising with your bank, and managing settlement - some quotes exclude GST and disbursements, so always confirm what's included before comparing prices.
$400-$800
$300-$400
$1,400-$2,000
$700-$1,000
Common Questions, Answered
Quick Summary
- Budget $3,000-$6,000 beyond the deposit for inspections, legal fees, and insurance.
- Legal fees run $1,200-$2,500 - always ask what's included before comparing quotes.
- Insurance must be in place by settlement day, not just before you move in.
- Moving and connection costs are easy to underestimate but add up quickly.