Can I use KiwiSaver to buy my first home?

KiwiSaver is a work-based savings initiative where regular contributions are made from your pay and employer. Designed to be a hassle-free way to save for your retirement, you may also be able to withdraw your savings to put towards purchasing your first home. The rules and regulations regarding KiwiSaver were changed this year, so stay up-to-date and read the KiwiSaver guidelines below:
  • You must intend to live in the home for six months
You must intend on living in the property you have bought using KiwiSaver for a minimum of six months from settlement date. If you use the KiwiSaver HomeStart grant to build your home, you need to live in that house for a minimum of six months from the issue of the code compliance certificate.
  • KiwiSaver member for at least 3 years
After a minimum of three years of being a KiwiSaver member, you can apply to withdraw your savings to buy your first home.
  • You can’t withdraw it all
You must leave your $1000 kickstart in your KiwiSaver account.
  • Be purchasing your first home
The KiwiSaver HomeStart grant must be used to purchase or build your first home, not an investment property. However, there are some circumstances where those in the same financial position as a first home buyer may still be eligible