---
title: Pointers for Getting Ready to Buy a House - LJ Hooker
description: We may often ask ourselves when is the best time to buy a house? There are many signs that can indicate a person’s readiness to purchase a home, but there are also others who might suggest the time is not right.
image: https://www.ljhooker.co.nz/hubfs/ljhooker.co.nz/Blog%20images/Pointers%20for%20getting%20ready%20to%20buy%20a%20house.jpg
---

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- [How To Best Negotiate a Private Treaty Sale](https://www.ljhooker.co.nz/blog/how-to-best-negotiate-a-private-treaty-sale)
- [What You Need to Know When Downsizing](https://www.ljhooker.co.nz/blog/what-you-need-to-know-when-downsizing)

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### Sidenav Overview

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- Buying
- [Buying Real Estate](https://www.ljhooker.co.nz/buy)
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- [Buying at Auction](https://www.ljhooker.co.nz/buy/buying-at-auction)
- [Purchase Deposit](https://www.ljhooker.co.nz/buy/buying-faqs/purchase-deposit)
- [Understanding Conveyancing](https://www.ljhooker.co.nz/buy/buying-faqs/conveyancing)
- [Getting a Home Loan](https://www.ljhooker.co.nz/buy/getting-a-home-loan)
- [LJ Hooker Assist](https://www.ljhooker.co.nz/assist)
- [OFX - Foreign Exchange](https://www.ljhooker.co.nz/buy/ofx-moving-money-globally)

- Resources
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- [Quick Guide Buyers Checklist](https://www.ljhooker.co.nz/buy/quick-guide-buyers-checklist)
- [First Home Buyers Guide](https://www.ljhooker.co.nz/buy/first-home-buyers)
- [Inspection Checklist ](https://www.ljhooker.co.nz/ebooks/open-house-inspection-checklist)
- [Complete Moving Guide](https://www.ljhooker.co.nz/ebooks/complete-moving-guide)
- [Buying Real Estate FAQs](https://www.ljhooker.co.nz/buy/buying-faqs)

- Trending
- [View Our Latest Blog Articles](https://www.ljhooker.co.nz/blog)
- [How to Make an Offer on a Property](https://www.ljhooker.co.nz/blog/how-to-make-an-offer-on-a-property)
- [What to Expect at a Pre-settlement Inspection](https://www.ljhooker.co.nz/blog/what-to-expect-at-a-pre-settlement-inspection)
- [How to Buy a Home as a Couple](https://www.ljhooker.co.nz/blog/how-to-buy-a-home-as-a-couple)

<https://www.ljhooker.co.nz/blog/pointers-for-getting-ready-to-buy-a-house#>

- Selling
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- [Why Choose an LJ Hooker Agent](https://www.ljhooker.co.nz/sell/why-choose-an-lj-hooker-agent)
- [The Process of Selling Your Home](https://www.ljhooker.co.nz/sell/the-process-of-selling-your-home)
- [Understanding the Selling Process](https://www.ljhooker.co.nz/sell/understanding-the-selling-process)
- [Tips for Property Sellers](https://www.ljhooker.co.nz/sell/tips-for-property-sellers)
- [Anti-Money Laundering ](https://www.ljhooker.co.nz/sell/anti-money-laundering-aml)
- [LJ Hooker Assist](https://www.ljhooker.co.nz/assist)
- [OFX - Foreign Exchange](https://www.ljhooker.co.nz/buy/ofx-moving-money-globally)
- [Recent Sales](https://www.ljhooker.co.nz/residential-search-results?orderBy=date-desc&searchOrigin=residential-nz&searchProfile=sold)
- [Get a Free Property Appraisal](https://www.ljhooker.co.nz/property-appraisal)

- Resources
- [Selling Resources](https://www.ljhooker.co.nz/sell/resources)
- [Quick Guide to Choosing an Agent](https://www.ljhooker.co.nz/sell/quick-guide-to-choosing-an-agent)
- [Quick Guide to Selling Methods](https://www.ljhooker.co.nz/sell/quick-guide-to-selling-methods)
- [Complete Selling Guide](https://www.ljhooker.co.nz/ebooks/the-complete-guide-to-selling-your-home)
- [Selling FAQs](https://www.ljhooker.co.nz/sell/selling-real-estate-faqs)

- Trending
- [View Our Latest Blog Articles](https://www.ljhooker.co.nz/blog)
- [Where Should You Add Value to Your Home?](https://www.ljhooker.co.nz/blog/where-should-you-add-value-to-your-home)
- [How To Best Negotiate a Private Treaty Sale](https://www.ljhooker.co.nz/blog/how-to-best-negotiate-a-private-treaty-sale)
- [What You Need to Know When Downsizing](https://www.ljhooker.co.nz/blog/what-you-need-to-know-when-downsizing)

<https://www.ljhooker.co.nz/blog/pointers-for-getting-ready-to-buy-a-house#>

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- [Renting Real Estate](https://www.ljhooker.co.nz/rent)
- [Properties For Rent](https://www.ljhooker.co.nz/residential-search-results?orderBy=date-desc&searchOrigin=residential-nz&searchProfile=rent)
- [Why Rent with LJ Hooker?](https://www.ljhooker.co.nz/rent/why-rent-with-lj-hooker)
- [What to Look For in a Rental Property](https://www.ljhooker.co.nz/rent/what-to-look-for-in-a-rental-property)
- [ Understanding Tenancy Agreements](https://www.ljhooker.co.nz/rent/understanding-real-estate-tenancy-agreement)
- [LJ Hooker Assist](https://www.ljhooker.co.nz/assist)
- [Rental Application Tips](https://www.ljhooker.co.nz/rent/applying-for-a-rental-property)

- Resources
- [Renting Resources](https://www.ljhooker.co.nz/rent/resources)
- [Guide to Renting Real Estate](https://www.ljhooker.co.nz/rent/guide-to-renting-real-estate)
- [First-time Renters Guide](https://www.ljhooker.co.nz/rent/first-time-renters-guide)
- [Open House Inspection Checklist](https://www.ljhooker.co.nz/ebooks/open-house-inspection-checklist)
- [Renting Real Estate FAQs](https://www.ljhooker.co.nz/rent/renting-real-estate-faqs)

- Trending
- [View Our Latest Blog Articles](https://www.ljhooker.co.nz/blog)
- [How to Win a Rental Application](https://www.ljhooker.co.nz/blog/putting-your-best-foot-forward-when-preparing-a-rental-application)

[ Invest ](https://www.ljhooker.co.nz/blog/pointers-for-getting-ready-to-buy-a-house#)

- Investing
- [Investing in Real Estate](https://www.ljhooker.co.nz/invest)
- [Managing Your Property with LJ Hooker](https://www.ljhooker.co.nz/invest/managing-your-property-with-lj-hooker)
- [Benefits of a Property Manager](https://www.ljhooker.co.nz/invest/benefits-of-a-property-manager)
- [Investing in Property with LJ Hooker](https://www.ljhooker.co.nz/invest/investing-in-property-with-lj-hooker)
- [Recently Leased Properties](https://www.ljhooker.co.nz/residential-search-results?orderBy=date-desc&searchOrigin=residential-nz&searchProfile=leased)
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- Resources
- [Investing Resources](https://www.ljhooker.co.nz/invest/resources)
- [Property Investing FAQs](https://www.ljhooker.co.nz/invest/property-investing-faqs)

- Trending
- [View Our Latest Blog Articles](https://www.ljhooker.co.nz/blog)
- [How to Attract High-Quality Tenants for Your Property](https://www.ljhooker.co.nz/blog/how-to-attract-high-quality-tenants-for-your-property)
- [How to Encourage Tenants to Renew Their Lease](https://www.ljhooker.co.nz/blog/how-to-encourage-tenants-to-renew-their-lease)
- [Respecting Tenants When You're Selling](https://www.ljhooker.co.nz/blog/respecting-tenants-when-youre-selling)

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# Pointers for Getting Ready to Buy a House

 Published on 12 May 2022 , updated on 8 September 2022 | [ Lyall Russell ](https://www.ljhooker.co.nz/blog/author/lyall-russell) | 5 mins

![Pointers for getting ready to buy a house](https://www.ljhooker.co.nz/hs-fs/hubfs/ljhooker.co.nz/Blog%20images/Pointers%20for%20getting%20ready%20to%20buy%20a%20house.jpg?width=1200&name=Pointers%20for%20getting%20ready%20to%20buy%20a%20house.jpg)

We may often ask ourselves when is the best time to buy a house? There are many signs that can indicate a person’s readiness to purchase a home, but there are also others who might suggest the time is not right.

A property is a large investment, and when you make that commitment, you want to ensure it is a financially sound decision. To achieve this, you need to be open and honest. By taking the time to look at the key indicators, you will be well placed to determine the right outcome for you.

This article will help explain what should stop you from considering a purchase at this time, but also what you should look for to show you are ready to buy.

## **The signs that you are not ready to buy**

While you may be eager to move into your own home, you should consider all the external signals that may indicate you are not ready to buy just yet. The existence of these signs might be disheartening, however, they can save you from making a massive financial commitment at a time that is not right.

### **Sign one: You have a low credit score**

Borrowing money has become easy, and purchasing new items on high purchase has become very common. Depending on whether you keep up with the payments, it could impact your credit score, and a low credit score could show you are not ready to buy a home just yet. This is because people with a high credit score will receive a better interest rate on their mortgage and lower monthly payments.

### **Sign two: You do not have enough cash for the deposit**

When it comes to putting down money for the deposit, ideally, you should be able to afford 20 percent. Anything lower will require you to pay for private mortgage insurance, which increases your monthly payments.

### **Sign three: You have only considered the sticker price**

The process of buying a home can be quite costly. Suppose you have not considered and saved for extra associated costs such as rates, insurance, utilities, renovations, maintenance, and even moving costs. In that case, you are not ready to buy a home just yet.

### **Sign four: Be a realist about your financial goals and ensure you can meet them all**

If committing to buying a property and entering into a mortgage means that financial goals in other areas of your life suffer, it may not be the best decision. It is important to consider potential future factors. For example, do you plan on making any other large financial decisions in the year? Is there a chance you will have to move away in the long-term, for work, for example? These are essential questions to be asking yourself when you are looking to determine if you are ready to purchase a property.

## **When are you ready to buy?**

When asking yourself ‘am I financially ready to buy a house?’, look for the following signs that indicate your financial security, market awareness, and stability.

### **You are realistic**

A lot of people dream big and set their hopes too high. This might mean that they look for homes well above their budget, which would result in a higher mortgage and less manageable repayments. If you are aware of your financial limitations, do your property search accordingly. You better position yourself to cope with the mortgage repayments and will reap the benefits of a carefully planned budget.

### **Understand the market**

The market goes through periods of fluctuation. For example, at any given time, it may be a seller’s market or a buyer’s market. Having an understanding of the current market and local house prices will help you make a financially sound decision.

You can gain a thorough understanding of the market by talking to real estate agents and property managers. They can guide you through the process and the pros and cons of buying at certain times, in certain areas.

### **You can afford the upfront costs of buying**

There are many costs associated with buying real estate. There are initial costs such as your solicitor’s fees, and getting a building report. Then there are recurring costs like council rates. Do not forget that extra costs like moving fees and utility connections also need to be considered.

The extra costs of buying a home are often overlooked. That’s why, if you have considered these costs and have saved enough to cover them, you can likely afford the costs of homeownership.

### **You have a secure and stable income**

A secure and stable job means that you can afford to make monthly mortgage repayments. Without regular income, you might be unable to maintain and keep on top of loan repayments, as well as daily expenses, which can add up fast in the wake of a large financial decision. Therefore, having a steady stream of predictable income is a key indicator that you are financially ready and equipped to buy a home and commit to regular mortgage repayments.

### **Start your home buying journey with LJ Hooker**

Buying a home is one of their most important decisions in life. However, such an important decision comes with great financial and personal responsibility. That’s why it’s not uncommon for people to take a step back and consider if they are really ready to buy a home.

Luckily, such a stressful process can be made easier. When determining if it’s the right time to buy property, there are some key signs. These signs indicate that you are ready and, in some cases, that you are not.

For those who are ready to take the next step, LJ Hooker can provide invaluable expertise and market knowledge to help you find the home of your dreams. Contact LJ Hooker and [connect with an agent today](https://www.ljhooker.co.nz/real-estate-agents) to start your home buying journey.

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![Lyall Russell](https://www.ljhooker.co.nz/hubfs/corporate/ljhooker/recruitment/452A8135%201.jpg)

#### Lyall Russell

 With more than a decade of experience in journalism, media and strategic communications, Lyall Russell has built a career around telling stories that inform and engage. His work has been published across four countries, and he has held roles ranging from producer at New Zealand’s leading news radio station Newstalk ZB to real estate journalist helping shape the news agenda at Real Estate Business. Today, Lyall brings that experience to LJ Hooker, where he specialises in property insights, market commentary and practical guides that support people at every stage of their real estate journey. He is also passionate about showcasing the people, performance and innovation across the LJ Hooker network, ensuring the stories behind the brand are as strong as the results it delivers.

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[What You Need to Know When Downsizing

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