Using KiwiSaver for your first home
For most first-home buyers, KiwiSaver is the single biggest chunk of the deposit. It's also the piece where the timing catches people out.
Who can withdraw
You need to have been a KiwiSaver member for at least 3 years, be buying your first home (or be a 'second-chancer' in a similar financial position to a first-home buyer, via Kāinga Ora), and intend to live in the property.
How much you can take
Everything in your KiwiSaver except $1,000 — you can withdraw your contributions, your employer's contributions, investment returns and the government contributions. You only have to leave $1,000 in the account. Your KiwiSaver provider handles the withdrawal, but they need your solicitor to submit the paperwork.
The timing catch
KiwiSaver funds are released to your solicitor's trust account, not to you. They usually arrive 10–15 working days before settlement, but different providers move at different speeds. If we don't kick off the paperwork early enough, settlement gets delayed. I flag this the moment your offer goes unconditional.
First Home Grant is gone — that's OK
The Kāinga Ora First Home Grant ended in mid-2024. The KiwiSaver withdrawal and the First Home Loan (5% deposit) both still exist. The grant was worth up to $10k; its removal changed what buyers can afford, but for most of my clients it hasn't been the deciding factor.
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