Buying guide
Bills you have to pay when owning a house
You’ve done the hard part and bought property – these are the costs you’ll need to cover now that you own
AI summary
Owning a home involves several ongoing costs beyond the initial purchase. New homeowners in New Zealand should budget for these key expenses to ensure financial stability.
Key recurring bills include:
- Mortgage repayments, the largest expense.
- Home insurance, which is required by lenders.
- Council rates to pay for local services.
- Utilities like power, internet, and sometimes water.
- Maintenance and repairs, for which budgeting 1% of your home's value annually is a good guideline.
Mortgage repayments (obviously)
Home insurance
Utilities
Get your wallet out, because owning a house isn't cheap!
Rates
Maintenance and repairs
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