Moving into your home

Now you’ve found your new home, it’s time to get ready for settlement and moving in.

Getting ready for settlement

Settlement day is when money changes hands and you officially become the owner of your new property. Your lawyer will work with the vendor's lawyer and our team to make this happen.

Boxes in front of the house

Doing a pre-settlement inspection

A few days before settlement, you’ll have one opportunity to do a pre-settlement check of the property. This is to make sure the property and the chattels are in the same condition as stated on your Sale & Purchase Agreement, for example, the dishwasher hasn’t disappeared and no walls have been damaged.

If you identify any issues, talk to your lawyer or conveyancer straight away. They can negotiate with the vendor’s lawyers about getting things fixed or paid for before settlement.

Finalising your house insurance

  • Confirm and purchase your house insurance to start from your settlement date. This is usually a condition of your home loan so your lawyer will need to see this as part of settlement.
  • When you do this, see if you can bundle any existing car insurance and contents insurance policies with the same provider of your new house insurance and save. Now you're a home owner, look into whether you want to get Life & Living insurance as well.

Preparing to move

  • It can be quite late on settlement day before the keys are released, so don't try and move in on the same day. Consider doing it the day after.
  • If you’ve got kids or pets, see if you can organise care for them for the day or get them involved in the move.
  • Change your mailing address and set up your utilities and internet at your new home.
  • Do a meter reading at both your old home and your new home.

Packing & moving

  • While you're packing up, label your boxes by room or items. It’ll make unpacking much easier.
  • Keep a few key items separate in a 'priority box' and keep it with you on moving day. This can have some tea or coffee making essentials, your Wi-Fi modem, snacks, anything that you know will make the day a little less stressful for you.
  • Allow time for an exit clean of your existing place and any cleaning you'll want to do at your new place.

What happens on settlement day

Your loan will be drawn down by your lawyer and transferred, along with any other contributions such as KiwiSaver, to the vendor's lawyer's trust account. Once the vendor's lawyer has received the money in full, they're legally required to transfer the property's title into your name.

You'll then be able to pick up the keys to your new home.

This all needs to happen during certain hours on your settlement date. Penalties can apply if you cause a delay, such as a 'late settlement' penalty. This is set out in your Sale & Purchase Agreement and your lawyer can help you understand what's required.

Once settlement is complete, you can move in.

Welcome to your home loan

Once your home loan has been drawn down and you've moved into your new home, your first repayments will start. Your home loan specialist will help you set everything up to suit you, such as aligning repayments dates with your pay cycles.

Calculate your repayments

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This is intended to be general information to help you get into your first home. Please seek formal legal advice for your particular situation.

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