Great news for first home buyers: the market is in your favor! Yes, interest rates might still be high, but house prices in New Zealand are about 16% lower than when they peaked in 2021. Sellers are motivated, and that means it’s a great time to get a good deal on your first home. 

But let’s be honest, buying your first home often comes with dreams of the “perfect” house. You know, the one with the sun-soaked living room, beautiful kitchen, and a garden straight out of a magazine. While it’s nice to dream, focusing on finding the perfect house might not be the smartest approach. Instead, it’s about getting into the market and finding a home that fits your needs today. In this article, we’ll take you through 09 reasons why you should stop chasing the dream and focus on buying your first home now. 

1. Your Dream Home Might Not Be What You Want in 5 Years 

What seems perfect today might not fit your life in the future. Maybe you picture yourself living on a quiet lifestyle block, but down the road, you might find you prefer being closer to work or better schools. Rather than putting all your energy into finding a forever home, think of your first home as a steppingstone. It’s not where you’ll live forever, but it’ll help you start building equity and improve your financial position. From there, you’ll have more options—whether it’s buying an investment property, upgrading to something bigger, or something else entirely. 

2. The New Zealand Property Market Moves Fast 

The housing market in cities like Auckland, Wellington, and Christchurch can move quickly. Historically, house prices have risen faster than wages, and while things are more affordable now, that might not last. Waiting too long for the “perfect” house could mean prices rise or competition increases, making it harder to get into the market. Instead of holding out, buy a home that fits your current needs and budget. You’ll start building equity and give yourself a stronger financial foundation for future moves. 

 3. Don’t Stretch Yourself Financially 

It’s easy to get caught up in wanting a bigger, better house, but overextending yourself can have serious consequences. If you max out your budget on your dream home, you could end up facing financial stress, limiting your ability to save, or becoming vulnerable to interest rate changes. Instead, focus on a home that you can comfortably afford. This way, you’ll have room in your budget for future renovations, unexpected expenses, or other financial goals. Plus, buying within your means will give you peace of mind and greater financial security. 

4. Location Is More Important Than Perfection 

In real estate, location often matters more than the house itself. A home that’s in a good area, even if it’s not perfect, will likely be a better investment than a perfect house in a less desirable neighborhood. Think carefully about where you want to live—whether it’s proximity to work, family, or good schools. Homes in desirable locations tend to hold their value and appreciate more quickly, so even if it’s not your dream home, you’ll still be in a location that works for you now and will benefit you later. 

5. Consider the Potential for Renovations 

If you’re willing to compromise on perfection, you’ll open yourself up to more possibilities. Older homes with “good bones” can often be improved over time. Maybe the kitchen isn’t brand new, or the bathroom could use an upgrade, but these are things you can fix down the road. 

Buying a structurally sound home that needs cosmetic updates gives you the chance to make improvements at your own pace. Over time, you can create a home that feels closer to your dream, without the upfront cost of buying something already perfect.