Buying guide
Using KiwiSaver to buy your first home: how it works
Saving a deposit can be hard for first home buyers. Luckily, KiwiSaver and other schemes can help you out.
Last updated: 27 May 2024
AI summary
Getting your first home deposit together is easier with government support schemes.
You can use a KiwiSaver First Home Withdrawal if you've been a member for at least three years, intend to live in the property, and leave a $1,000 minimum balance.
Another option is the First Home Loan, underwritten by Kāinga Ora, which allows eligible buyers to purchase a home with only a 5% deposit. This scheme has income and regional house price caps, and you apply through participating lenders.
In this article you’ll learn:
1. KiwiSaver First Home Withdrawals
Using KiwiSaver can make the maths on buying your first home a little less scary.
Your KiwiSaver manager will help you apply for your withdrawal.
2. The First Home Loan scheme
You'll need to check the eligibility criteria if you're going to apply for the First Home Loan.
From your first home to your forever home, start your search on Trade Me Property, NZ's #1 property site.
Search nowDiscover More
'I fell in love with it immediately': The clifftop home he wasn't going to lose twice
A beloved Torbay clifftop home with sweeping Hauraki Gulf views is back on the market after seven years.
‘Completely irrelevant': The one number a top agent wishes you'd stop obsessing over
Ray White’s Dean Tuffley gives us the no-nonsense advice Kiwi buyers and sellers actually need.
Search
Other articles you might like
