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Buying your first home with KiwiSaver

A benefit of KiwiSaver is that you may be able to use your KiwiSaver investment to help you buy your first home.

At Kiwi Wealth we get that buying a home is one of the biggest sources of stress in our lives. We’re here to support you to make the most of the journey by:

  1. Helping grow your KiwiSaver investment for your deposit.
  2. Helping to walk you through the first home withdrawal process.

Whether you’re years away from buying a house or about to begin the process, a good place to start is to check which KiwiSaver investment fund might be right for you – the amount of risk you choose can vary depending on when you're planning to buy your house.

If you're not sure what type of property you want to buy for your first home, these five property options for first home buyers might provide some inspiration.

And if you’re already looking, or your first home purchase is imminent, check out our guide below to using KiwiSaver to help you get the keys to your new front door.

Coronavirus market impacts

Due to the impact the coronavirus pandemic is having on the investment markets, KiwiSaver schemes have been impacted.

If the timeframe to buy your first home is still a while away and you selected a fund that meets you risk appetite, we suggest you hold tight. All investments have their highs and their lows, but historically markets have trended upwards and rebounded from crashes. Changing your fund or withdrawing now, means you lock-in losses.

If you still plan to buy a home in a shorter timeframe, within the next 12 months, it may be worth considering your fund choice. Moving your funds to a lower risk fund (like Cash) may be an option to reduce any further significant loss.

Get answers to your KiwiSaver questions here and stay up to date on what Covid-19 means for you in the areas of finance, health and the economy, here.

5 stages of buying a home with KiwiSaver

Select your stage

1

Checking your eligibility

Find out the criteria for using KiwiSaver to buy your first home

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2

Finding out what you can withdraw

Ensure you’re in the right fund, and learn how to gather your finances through KiwiSaver and borrowing

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3

Preparing for house-hunting

How to leave enough time to organise KiwiSaver paperwork before you buy

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4

Making an offer

Learn how your KiwiSaver investment can be used for a deposit or settlement when making an offer on a house

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5

Getting back on financial track

Next steps for your KiwiSaver investment once you’re in your property

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Ready to apply for your first home withdrawal?

Download the form     
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I recently withdrew my first home withdrawal, I was pleasantly surprised how much had accrued in such a short period of time, in addition everyone I dealt with was knowledgeable efficient and prepared to help me to achieve what I needed - thank you

Sarah, Kiwi Wealth member from Christchurch

Looking for someone to help you through the home buying process?

We know that buying your first home can be a complex and stressful experience. Our sister company Kiwibank has Mobile Mortgage Managers who can come and meet with you to talk through:

  • The home loan process
  • Your financial options
  • Lending criteria

You can contact a Kiwibank Mobile Mortgage Manager directly through Kiwibank. Even if you’re in the early stages of thinking about getting into your first home – they’re with you all the way.

Get in touch

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View the Kiwi Wealth KiwiSaver Scheme Product Disclosure Statement. Need help? Call us on 0800 427 384
 
Kiwi Wealth® is a registered trademark of Kiwi Wealth Investments Limited Partnership.
Future You® is a registered trademark of Kiwi Wealth Limited.
 
Kiwi Wealth Limited is the Issuer and Manager of the Kiwi Wealth KiwiSaver Scheme (the Scheme) and is a related company of Kiwibank Limited.
 
Kiwibank is a distributor but is not an issuer of the Scheme. Investments made in the Scheme do not represent bank deposits or other liabilities of Kiwibank and neither they nor any other person guarantees the repayment of members’ interests in the Scheme or the payment of any earnings or returns on investment in the Scheme. Investments in the Scheme are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances and loss of investment value.
 
© 2019 Kiwi Wealth Limited
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