Zoe Hunter: Why I'm lucky I bought my first home a year ago

Buying a home is harder than ever Photo / Getty Images

OPINION

I feel so lucky to own my own home.

I thought it was hard enough trying to get on to the property ladder a year ago, let alone what it's like for first home buyers now.

It was still a struggle, don't get me wrong.

I still had to come up with the finance, prove to the bank I could service the debt on one income, and find something in Tauranga - one of the most expensive cities in New Zealand - that was within my budget.

But I didn't have to fight the hard fight at auction, which seems to be how most houses are selling now.

I never ended up in a multi-offer war with other interested buyers.

And I got the keys to the first home I put an offer on.

That's the part I'm most thankful for. I didn't have to ride the emotional rollercoaster of losing out on a home again and again and again.

This week, we followed the journey of first home buyers battling the Bay's property boom.

They were two very different stories, buying in two very different markets.

One first home buyer had a top budget of about $800,000, while the other was dealing with about half of that in the high $400,000s.

Two very different starting points, but one very similar story.

They both missed out on multiple properties and spent months searching for the right home.

One was aggressive at auctions, putting their top bid forward first - a risky strategy that paid off in the end.

While another was fighting against the idea of having to compromise on LIM and building reports just to be in to win on some houses.

One brother and sister joined finances to even be able to become players in the game.

But in the end, they both made it on to the property ladder - a massive feat in today's crazy market. A market one agent described as the "quick or the homeless".

Local agents say it's becoming very common for first home buyers to be missing out on multiple properties.

Their advice is to get your finance in order, act quick and don't get too emotionally attached or you'll cloud your vision - be prepared to miss out on a few before you get the foot on the ladder.

All I know is that in a world where many have lost their jobs or taken pay cuts due to Covid-19, it is a privilege to have a roof over my head that's mine.

I feel extremely lucky to be a homeowner in 2021.