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First home withdrawals

Saving for a first home? Get up to speed on how KiwiSaver can help you get there. One key characteristic of KiwiSaver is that it may help you purchase your first home! Find out if you’re eligible and how much you might be able to withdraw.

Am I eligible?

To be eligible you need to have been a member of a KiwiSaver scheme, or a complying superannuation fund, for a minimum of three years and in general you can’t currently own, or have previously owned property. You must also intend to live in the property you are purchasing as your primary place of residence. Visit the Government's KiwiSaver website for more details, or if you have previously owned a property you may be eligible for a second-chance withdrawal - find out more.

How much can I withdraw?

If you’re a KiwiSaver member, confirm your KiwiSaver start date and find out how much you may be able to access for a first home withdrawal. If you qualify, you can withdraw everything in your account except for $1,000 and any money that may have been transferred into your KiwiSaver account from a complying Australian superannuation scheme.

Can I get the HomeStart grant?

As well as the first home withdrawal, KiwiSaver members may also qualify for a HomeStart grant from Housing New Zealand, but you must meet certain conditions determined by Housing New Zealand.

HomeStart grant - for new builds.

If you are purchasing a newly built home or a proposed home off plans, the grant is $2,000 for each year you have contributed to KiwiSaver, up to a maximum of $10,000. So if you’ve contributed for three years, you could get $6,000; for four years, $8,000; and $10,000 for five years or longer for a single buyer and up to $20,000 for two or more buyers. 

Are you a first home buyer?

Buying your first home can be a complex and stressful experience. Our mates over at Kiwibank (our sister company) have Mobile Mortgage Managers who can come and meet with you to talk through the home loan process, what options there are, how much you might want to borrow and anything else that you’re not too sure about.

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 there to help!

Get in touch

First home buyer