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\ud83d\udd39 Council rates \u2013 Every homeowner pays these annually for things like rubbish collection, water supply and community facilities. You can pay annually, monthly, fortnightly or weekly with most councils. These can be big bills so set up a system that will work for you.<\/p>\n
\ud83d\udd39 Insurance \u2013 You\u2019ll need home insurance on your new purchase before a bank will lend to you. You can get a quote from your current provider or reach out to a new one to compare costs. You also might want to protect your home and contents with a separate insurance policy. Some banks may also ask for evidence that the loan is secured with a policy like life or income protection insurance.<\/p>\n
\ud83d\udd39 Repairs and maintenance \u2013 A whare needs to be looked after\u2014who will pay when the hot water cylinder breaks? You will need to factor in larger costs and smaller maintenance bills too. If you buy a brand new whare you might get a builders guarantee which can cover your whare for 5 or 10 years.<\/p>\n
\ud83d\udd39 Power and utilities \u2013 electricity, internet, all the little bills to keep your whare up and running can add up too.<\/p>\n
Many first-time homeowners will focus on getting the keys but forget about these ongoing costs. By preparing for all the extra (and just as important) expenses, you\u2019ll get yourself and the wh\u0101nau a step ahead.<\/p>\n
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\ud83d\udd39 Make a budget for home ownership. Add in columns for rates and property repairs to see if you\u2019re financially ready or you need to adjust the budget\/savings plan.<\/p>\n
\ud83d\udd39 Check the Council website\/call the council for the valuation and annual rates for a property you\u2019re interested in and call your insurer and get a quote.<\/p><\/blockquote>\n
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