Buying a home comes with plenty of questions.
From figuring out what you can afford to understanding the buying process, negotiating offers, and knowing when to act, purchasing property can feel complex — especially when every decision matters. And whether you’re a first-home buyer or have been through it before, the questions don’t stop once you start looking.
At Lodge, we’ve helped buyers across Hamilton and the wider Waikato navigate every stage of the buying journey. We’ve heard the practical questions, the nervous ones, and the ones people worry might sound silly — and we know how important clear answers are when you’re making a decision this big.
This FAQ page covers the questions we’re asked most often when buying a home, with straightforward answers grounded in local market experience. If you don’t see your question here, just ask. There’s no such thing as a silly question when you’re buying a home.
Thinking About Buying
How do I know if I’m ready to buy a home?
Being “ready” isn’t just about money — it’s also about stability, timing, and confidence. Financially, you’ll want a deposit, steady income, and a sense of what you can comfortably afford. Personally, you’ll want some clarity around where you want to live and for how long.
At Lodge, we help buyers talk through readiness without pressure, looking at both the numbers and the lifestyle side. You don’t need every detail locked in — you just need a realistic starting point and good advice.
How much deposit do I need?
The amount varies depending on the property and your lender. Many buyers aim for a 20% deposit, but there are options with less, especially for first-home buyers. A smaller deposit may involve additional requirements or costs, so it’s important to understand the trade-offs.
Lodge encourages buyers to speak with a bank or broker early and can help connect you with professionals who explain your options clearly. Knowing what’s possible helps you search with confidence rather than uncertainty.
How much can I afford to spend?
Affordability is about more than what a bank will lend you — it’s about what fits your life comfortably. Mortgage pre-approval gives you a ceiling, but you’ll also need to consider rates, insurance, maintenance, and day-to-day living.
At Lodge, we help buyers think practically about price ranges, not just maximum limits, so you don’t stretch yourself unnecessarily. A realistic budget makes the buying process less stressful and helps you make decisions with confidence.
Should I buy now or wait?
This is one of the most common questions buyers ask. Markets change, but so do rents, interest rates, and personal circumstances. Waiting can sometimes help — but it can also mean missing opportunities. At Lodge, we help buyers focus less on trying to “time the market” and more on whether buying now makes sense for their situation. The right time is often when you’re financially prepared and find a home that suits your needs — not when headlines say it’s perfect.
What costs should I budget for besides the purchase price?
Buying involves more than just the price you pay for the home. You’ll need to allow for legal fees, building reports, LIM reports, insurance, moving costs, and sometimes valuations. These costs are manageable, but they’re easier to handle when you expect them.
Lodge helps buyers understand the full picture early, so there are no surprises once you’re underway. Clear budgeting makes the whole process feel more controlled.
Do I need a lawyer before I start looking?
You don’t need a lawyer just to attend open homes, but it’s wise to have one lined up early. Once you’re ready to make an offer, timing matters, and having legal advice ready avoids rushed decisions. Lodge works closely with experienced property lawyers and can help guide you on when legal input is needed. Being prepared early makes offers smoother and more confident.
Should I talk to a bank or broker first?
Yes. A conversation with a bank or mortgage broker helps you understand borrowing limits, deposit requirements, and loan structure options. Pre-approval gives you clarity and shows sellers you’re serious.
Lodge encourages buyers to take this step early and can help you align financial advice with realistic property options. Knowing your financial position upfront removes a lot of uncertainty later.
What should I prioritise when buying?
Start with non-negotiables: location, budget range, and basic property type. Features like colour schemes and fixtures can change; location and layout usually can’t. At Lodge, we help buyers separate “must-haves” from “nice-to-haves” so decision-making is clearer when emotions kick in. A clear priority list keeps you focused and helps avoid regret later.
Is buying my first home different from buying again?
Yes. First-home buyers often need more guidance around process, finance, and risk, while repeat buyers may be balancing selling at the same time. Lodge tailors advice to where you’re at — whether it’s your first purchase or your fifth. Understanding the differences early helps set expectations and reduces stress.
What’s the biggest mistake buyers make early on?
Not getting informed early enough. Buyers often fall in love with a home before understanding their budget, the process, or the risks involved. At Lodge, we encourage buyers to ask questions early and often, so decisions are made with clarity rather than pressure. Good preparation leads to better outcomes.
First Steps
What’s the first thing I should do if I want to buy a home?
The best first step is understanding your financial position. That means talking to a bank or mortgage broker about borrowing limits, deposit requirements, and likely repayments. Once you have that clarity, you can start looking at homes within a realistic price range.
At Lodge, we encourage buyers to get this groundwork done early so decisions later are confident, not rushed. Knowing what’s possible before you fall in love with a property makes the entire process smoother.
Do I need mortgage pre-approval before looking at houses?
You don’t need pre-approval just to attend open homes, but you’ll need it before making a serious offer. Pre-approval shows sellers you’re a genuine buyer and gives you a clear spending range. At Lodge, we recommend getting pre-approval early so you can act quickly when the right home comes up. It also helps avoid disappointment by keeping your search focused on properties you can realistically afford.
Should I use a bank or a mortgage broker?
Both can work — it depends on your situation. Banks offer their own products, while mortgage brokers can compare options across multiple lenders. A broker may be helpful if your situation is more complex or if you want support navigating the process.
We often suggest buyers explore both options and choose the one that feels clearest and most supportive. The important thing is understanding the terms and being comfortable with your repayments.
How do I start searching for homes?
Start by narrowing down location, budget, and property type. Online listings are a good starting point, but attending open homes helps you understand what different price points look like in reality.
At Lodge, we help buyers interpret what they’re seeing and connect them with suitable listings early. Being active in the market builds confidence and helps you recognise value when it appears.
Can a real estate agent help me buy a home?
Yes — a good agent can be a valuable guide throughout the buying process. While agents work on behalf of sellers, they also help buyers understand the market, identify suitable properties, and navigate the process with confidence.
At Lodge, we regularly assist buyers by explaining pricing, highlighting comparable sales, flagging potential risks, and keeping them informed about upcoming opportunities. We can also help you prepare strong, well-structured offers.
Having an experienced agent involved means you’re not trying to interpret everything on your own — you’ve got local insight and support when it matters most.
Do I need a lawyer before making an offer?
Yes. Once you’re ready to make an offer, legal advice is essential. A lawyer will review the Sale and Purchase Agreement and help you understand conditions and risks. Lodge encourages buyers to have a lawyer lined up early so offers can be made confidently and without delay. Good legal advice protects you from costly mistakes.
What documents should I expect to see when buying?
Common documents include the Sale and Purchase Agreement, title, LIM report, and sometimes building reports or disclosure statements. Not all documents are provided automatically. Lodge helps buyers understand what’s available, what’s missing, and what should be obtained before committing. Knowing which documents matter — and when — reduces risk and confusion.
How long does it usually take to buy a home?
Timeframes vary. Some buyers find the right home quickly, while others take months. Once an offer is accepted, the process typically takes several weeks to complete conditions and settle. At Lodge, we help buyers understand realistic timelines so expectations are clear. Buying isn’t a race — it’s about making the right decision at the right time.
Can I make an offer subject to conditions?
Yes. Conditions like finance approval, building reports, or solicitor approval are common and protect you as a buyer. Lodge will explain which conditions are appropriate for your situation and how they affect your offer’s strength. Balancing protection and competitiveness is key, and we’ll help you find that balance.
What’s the biggest mistake buyers make in the early stages?
Not getting organised early enough. Buyers often underestimate how quickly good properties move. At Lodge, we encourage buyers to line up finance, legal advice, and a clear brief early so they’re ready to act. Preparation reduces stress and helps you move confidently when the right opportunity arises.
Finding the Right Home
How do I know which areas I should be looking in?
Start with what matters most to your lifestyle — commute, schools, amenities, and community — then balance that against your budget. Different suburbs offer different trade-offs, even within the same city.
At Lodge, we help buyers understand how locations within Hamilton and the wider Waikato compare in terms of value, demand, and future potential. Sometimes the right area isn’t the one you first had in mind, but one that better fits your priorities and price range.
How many open homes should I go to before making a decision?
There’s no set number. Some buyers find “the one” quickly, while others need to see many homes to understand the market. Attending multiple open homes helps you recognise value, spot patterns, and refine your preferences. At Lodge, we encourage buyers to view enough properties to feel confident — not rushed or overwhelmed. The goal is clarity, not exhaustion.
What should I look for when viewing a property?
Look beyond presentation and focus on layout, light, storage, condition, and how the home will function day to day. Consider things like noise, parking, and outdoor space. Cosmetic features can be changed; location and layout usually can’t. Lodge helps buyers evaluate properties objectively, pointing out strengths, potential issues, and how a home compares to others at a similar price point. That perspective helps keep emotions in check.
Should I get a building inspection?
In most cases, yes. A building inspection provides an independent assessment of the property’s condition and can identify issues that aren’t obvious during a viewing. Even newer homes can benefit from inspection.
Lodge recommends using a qualified, independent inspector and can help you understand what the report means in practical terms. A building report isn’t about finding reasons to walk away — it’s about making an informed decision.
What is a LIM report and do I need one?
A LIM (Land Information Memorandum) is a council report that outlines information such as zoning, consents, drainage, and potential hazards. It helps confirm that the property complies with council records. While not legally required, it’s strongly recommended. Lodge can help buyers understand what’s in a LIM and whether there are any red flags worth investigating further. It’s an important part of due diligence.
How do I compare similar properties?
Comparing homes means looking at recent sales, not just asking prices. Size, location, condition, and features all matter. Lodge uses local sales data and buyer feedback to help buyers understand how one property stacks up against another. This context helps you recognise when a home is fairly priced — or when it’s not — and supports confident decision-making.
How do I know if a property is overpriced?
A property may be overpriced if similar homes have sold for less or if it’s been on the market longer than expected without strong interest. Lodge helps buyers assess pricing by sharing comparable sales and explaining buyer behaviour. Understanding the market prevents you from overpaying — or missing a good opportunity due to uncertainty.
Should I move quickly if I like a property?
If the home meets your needs and fits your budget, moving promptly is often wise — but not without due diligence. Lodge helps buyers balance urgency with caution, ensuring conditions and checks are in place where needed. Acting decisively doesn’t mean acting blindly. Preparation allows you to move quickly and safely.
Can I make an offer on more than one property?
You generally can’t have multiple unconditional offers at the same time, but conditional offers may be possible in certain circumstances. This is an area where legal advice is important. Lodge will guide you on what’s appropriate and help structure offers responsibly so you don’t overcommit or create unnecessary risk.
What’s the biggest mistake buyers make at this stage?
Letting emotion outweigh information. It’s easy to fall in love with a home and overlook important details. At Lodge, we help buyers slow things down just enough to ask the right questions and make decisions based on both head and heart. Informed buyers make better long-term choices.
Making an Offer & Negotiation
How do I make an offer on a property?
An offer is made using a Sale and Purchase Agreement, which sets out the price you’re offering and any conditions, such as finance, building inspection, or settlement date. Once signed, the offer is presented to the seller for consideration.
At Lodge, we help buyers understand each part of the agreement before signing, so you know exactly what you’re committing to. Making an offer isn’t just about the price — it’s about putting forward terms that work for you and are attractive to the seller.
How much should I offer?
The right offer depends on market conditions, comparable sales, and how much interest the property is attracting. At Lodge, we help buyers assess value using local sales data and current buyer behaviour, rather than guesswork. In some situations, a strong first offer is appropriate; in others, there may be room to negotiate. Understanding the context helps you make an offer that’s both competitive and sensible.
Can I make an offer subject to conditions?
Yes. Conditions are common and help protect you as a buyer. Typical conditions include finance approval, building inspection, LIM report, and solicitor approval. Lodge will help you decide which conditions are appropriate for your situation and explain how they affect the strength of your offer. Balancing protection and competitiveness is important, and we’ll guide you through that process.
What happens after I submit an offer?
The seller can accept your offer, reject it, or come back with a counter-offer. There may be several rounds of negotiation before an agreement is reached. At Lodge, we manage communication between both parties, keep you informed, and explain each step so there are no surprises. Negotiation is normal, and patience often pays off.
What is a multi-offer situation?
A multi-offer occurs when more than one buyer submits an offer at the same time. Sellers must follow a formal process, and buyers are usually asked to submit their best offer by a set deadline. Lodge explains how multi-offers work and helps you put forward a strong, well-considered offer while staying within your comfort zone. It’s competitive, but it doesn’t have to be chaotic.
How does negotiation usually work?
Negotiation may involve price, conditions, settlement date, or included items. It’s often a back-and-forth process until both parties are satisfied. Lodge negotiates professionally on your behalf, keeping emotion out of the conversation and focusing on practical outcomes. The goal is to reach an agreement that works for you without unnecessary stress.
Can the seller accept another offer while negotiating with me?
Yes — until an agreement is signed, the seller can consider other offers. This is why clarity and timing matter. Lodge helps buyers understand where they stand during negotiations and advises on when to hold firm or move decisively. Clear communication helps avoid misunderstandings and disappointment.
What if my offer is accepted?
Once your offer is accepted, the agreement becomes legally binding, subject to any conditions. You’ll move into the conditional period, where checks like finance approval and inspections are completed. Lodge will guide you through next steps and help coordinate timelines so conditions are handled smoothly.
What if my offer is rejected?
Rejection can be disappointing, but it’s common — especially in competitive markets. Lodge will help you understand why the offer didn’t succeed and what options remain, whether that’s negotiating further, adjusting expectations, or moving on to another property. Each offer provides useful insight for the next one.
What’s the biggest mistake buyers make when making an offer?
Not understanding the full terms of what they’re signing. Price matters, but so do conditions, dates, and legal obligations. At Lodge, we take the time to explain agreements clearly so you can make decisions with confidence. Informed offers lead to better outcomes.
Going Under Contract
What does “under contract” mean when I’m buying?
“Under contract” means your offer has been accepted and both you and the seller have signed the Sale and Purchase Agreement, but the sale is still subject to any conditions included in the contract. These conditions might relate to finance, a building inspection, a LIM report, or solicitor approval.
During this stage, the deal is progressing but not yet final. Lodge helps buyers understand what’s required, track deadlines, and coordinate next steps so nothing is missed and the process stays on track.
What is the conditional period?
The conditional period is the timeframe you have to complete the checks outlined in your agreement. This may include confirming finance, arranging inspections, or reviewing reports. Each condition has a deadline, and they must all be satisfied before the sale becomes unconditional.
Lodge works with buyers to ensure conditions are handled promptly and properly, helping you understand what’s required and when. Staying organised during this stage helps avoid delays or unnecessary stress.
How long does the conditional period usually last?
Conditional periods typically range from five to fifteen working days, depending on the number and type of conditions. More complex purchases may require longer timeframes. Lodge helps buyers set realistic condition periods at the offer stage and monitors progress throughout. If extensions are needed, we’ll explain why and help you decide whether to agree. Clear timeframes and communication are key to keeping the purchase moving smoothly.
Can I pull out of the agreement during the conditional period?
Yes — but only if you’re unable to satisfy one of your conditions despite making a genuine effort. Conditions exist to protect you, but they must be exercised properly and in good faith. Lodge will guide you on how this works and encourage you to seek legal advice if needed. If you do need to withdraw, we’ll help manage communication so it’s handled correctly and professionally.
What does unconditional mean for a buyer?
Unconditional means all conditions in the agreement have been met or waived, and the purchase is now legally binding. At this point, neither party can walk away without serious consequences.
Lodge will confirm when the agreement goes unconditional and guide you on next steps, such as booking movers and arranging insurance. Reaching unconditional is a key milestone and provides certainty that the purchase is going ahead.
When do I need to arrange insurance?
You’ll usually need to arrange insurance from the date the agreement goes unconditional, as risk typically passes to the buyer at that point. Lodge will remind you when this is required and encourage you to confirm cover with your insurer early. Having insurance in place protects you if something unexpected happens before settlement.
When do I pay the deposit?
The deposit is usually paid once the agreement goes unconditional, although sometimes part of it may be paid earlier by agreement. The amount and timing will be clearly outlined in the Sale and Purchase Agreement. Lodge will explain how the deposit works, where it’s held, and what to expect, so there’s no confusion.
What if the seller asks for an extension?
Extensions can be requested for various reasons, such as delays in documentation or finance. Lodge will explain why an extension is being requested and help you assess whether it’s reasonable. You’re not obliged to agree, and any decision should consider your position and plans. Clear advice helps you make the right call.
What happens if something goes wrong during this stage?
Issues can arise, such as unsatisfactory reports or finance delays. Lodge helps buyers assess options calmly — whether that’s renegotiating, extending conditions, or withdrawing. Acting early and communicating clearly often prevents small issues from becoming major problems.
What’s the biggest mistake buyers make at this stage?
Missing deadlines or not understanding their obligations. The conditional period has legal significance, and timing matters. Lodge keeps buyers informed and organised, so nothing is overlooked. Preparation and clear guidance help ensure the transition to unconditional is smooth.
Settlement & Moving In
What happens on settlement day when I’m buying?
Settlement day is when ownership of the property officially transfers to you. Your lawyer and the seller’s lawyer coordinate the payment of the purchase price and the transfer of title. You don’t need to attend in person, but it’s an important milestone. Lodge stays in contact with your lawyer and will let you know once settlement has gone through. Once confirmed, keys can be released and the home is officially yours.
Do I need to be there on settlement day?
No. Settlement is handled by the lawyers and banks, so there’s no need to attend. However, you should be contactable in case any last-minute questions arise. Lodge will keep you informed throughout the day so you’re not left waiting. While settlement itself is largely administrative, it’s the moment everything becomes real.
When do I get the keys?
You receive the keys once settlement has been confirmed by the lawyers. This usually happens on settlement day after funds have been transferred. Lodge manages the key handover process so it’s clear and straightforward. It’s important not to collect keys early, even if the home is vacant, as ownership doesn’t change until settlement is complete.
Can I do a final inspection before settlement?
Yes. Buyers typically do a final inspection shortly before settlement to check that the property is in the same condition it was in when the agreement was signed, allowing for fair wear and tear. This isn’t a chance to renegotiate — it’s simply to confirm nothing has changed. Lodge coordinates timing and access and will help address any issues promptly if they arise.
What condition should the house be in when I move in?
The property should be clean, tidy, and as agreed in the Sale and Purchase Agreement, with all listed chattels in place. Lodge will help ensure expectations are clear well before settlement so there are no surprises. If something isn’t as expected, we’ll work with the seller’s side to resolve it quickly.
When should I arrange utilities and services?
You should arrange services such as power, internet, and insurance to start from settlement day. Lodge can provide a checklist to help you remember what needs setting up and when. Organising this early makes moving in much smoother.
What if settlement is delayed?
Delays are uncommon but can happen, usually due to banking or legal issues. If settlement is delayed, your lawyer will manage the legal side, including any penalties or revised timelines. Lodge stays in close communication with all parties and keeps you informed so you understand what’s happening and what it means for your move-in plans.
Can I move in on settlement day?
Yes — once settlement is confirmed and you have the keys. Timing can vary depending on when settlement is completed during the day. Lodge will let you know as soon as everything is finalised so you can move in with confidence.
What if something goes wrong after settlement?
If you notice an issue after settlement, contact your lawyer and Lodge straight away. While most issues are minor, addressing them quickly is important. Lodge will help guide communication and next steps if needed.
What’s the biggest mistake buyers make at settlement?
Assuming everything will happen automatically. Settlement involves multiple parties, and preparation matters. Having utilities arranged, movers booked, and insurance in place makes the transition far smoother. Lodge helps buyers stay organised so settlement day feels like a finish line — not a scramble.