Need a deposit for your first home? – Private Sale

Need a deposit for your first home?

Need a deposit for your first home?

Think about your KiwiSaver!

Once you’ve been a member of Kiwisaver for 3 years you may be able to withdraw some of your Kiwisaver savings to put towards purchasing your first home (you need to leave a minimum balance of $1000)

You’ll be eligible for a KiwiSaver first home withdrawal if:

  • You’ve been saving with KiwiSaver (or another complying superannuation fund) for at least three years.
  • You’re a first-time property or land owner.
  • The property or land is in New Zealand.
  • You’re going to live in the home you’re buying or build a home to live in on the land you’re buying.
  • It’s the first time you’ve made a KiwiSaver withdrawal to buy a home.
  • If you have previously owned a home before, you may qualify for a previous home owner withdrawal through Housing New Zealand Corporation.

There’s also the KiwiSaver HomeStart Grant

You could get up to $5,000 to buy an existing home, or up to $10,000 if you’re building or purchasing a newly built home. You can check with Housing New Zealand Corporation to see if you’re eligible. Income caps, house price caps and other criteria apply.