KiwiSaver and your first home
What you can withdraw, who is eligible, how long it takes, and what changed when the First Home Grant was abolished in May 2024.
Last updated: 6 May 2026
General Information Only: This page provides factual data for comparison purposes and does not constitute financial advice. Individual circumstances vary.Read our disclosure
The two-minute summary
- The KiwiSaver First Home Withdrawal is alive, unchanged, and the main support tool for first-home buyers.
- The First Home Grant (formerly HomeStart) was abolished in the May 2024 Budget. Applications closed 22 May 2024.
- You can withdraw your contributions, employer contributions, and returns — but must leave at least $1,000 behind.
- You must have contributed for at least 3 years, never owned property (or hold Housing NZ second-chance status), and the home must be your main residence.
- The withdrawal takes 10–20 business days. Apply once your offer is near-unconditional.
- You can buy with a partner, family member, or another co-purchaser — eligibility is assessed per person.
Read the full guides
Eligibility
3-year contribution rule, never-owned-property rule, second-chance status, Māori-land exceptions.
How much you can withdraw
What's withdrawable, what must stay, the $1,000 minimum, and typical amounts by years contributed.
The withdrawal process
Step-by-step application, documents you need, timing, and how funds reach your lawyer.
First Home Grant (legacy)
What the grant was, who got it before May 2024, and what replaced it.
HomeStart / First Home Grant abolition
What's gone, what's still available, and the timeline of the May 2024 changes.
First-home pathway calculator
Project your KiwiSaver balance at target purchase year, see the withdrawable amount, and check the deposit gap against a target house price.
Retirement calculator
Long-horizon balance projection — useful for understanding what you'll have left after a first-home withdrawal.
Frequently asked questions
Can I use my KiwiSaver savings to buy a house with someone else?
Yes. You can withdraw KiwiSaver to buy with a partner, family member, or any co-purchaser, including someone who has previously owned property — but only your eligible share goes towards the purchase. Each KiwiSaver member must independently meet the 3-year contribution rule, the never-owned-property rule (or Housing NZ second-chance status), and the main-residence rule for their own withdrawal. The non-eligible co-buyer can contribute their own funds without affecting your withdrawal.
How much KiwiSaver can I withdraw for a first home?
You can withdraw your member contributions, employer contributions, government contributions, and investment returns (per the 2015 rule change). You must leave at least $1,000 in your account. Any First Home Grant money you received before 22 May 2024 (when the grant was discontinued) must remain until retirement. There is no upper cap — the amount depends on what you have saved. After 3 years of contributing, most members withdraw between $10,000 and $80,000.
How long does a KiwiSaver first home withdrawal take?
Plan for 10–20 business days end-to-end. Your provider must process the application within 10 business days of receiving complete documents (sale and purchase agreement, identification, lawyer's trust account details). Apply as soon as you have an unconditional or near-unconditional offer — funds need to land before settlement.
Is the First Home Grant (HomeStart) still available?
No. The First Home Grant — the successor to the HomeStart Grant — was abolished in the May 2024 Budget. Applications closed 22 May 2024. The KiwiSaver First Home Withdrawal is unchanged and remains available. See our First Home Grant abolition page for what's been replaced and what hasn't.
Do property price caps still apply?
No. Price caps were removed in 2023 for the KiwiSaver First Home Withdrawal. The withdrawal is available regardless of the purchase price, provided you meet the eligibility rules. Price caps did apply to the First Home Grant (now abolished), so any old guides still mentioning caps are out of date.
Can I use KiwiSaver to buy land or a section?
Yes, in two scenarios: (1) buying a section with the intent to build your main residence within a defined timeframe, with funds released to your lawyer's trust account; (2) Māori land — there are specific rules for buying onto land owned by your iwi. The withdrawal cannot be used for an investment property.
Do I need to live in the home?
Yes. The property must be your main residence for at least 6 months from the date of settlement. If your circumstances change (e.g. job relocation), discuss with your provider — there is no automatic clawback but you should document the reason.
Sources
- Inland Revenue (IRD) — Withdraw KiwiSaver to buy first home
- Kāinga Ora — First Home Grant (legacy / abolished page)
- Sorted.org.nz — Buying a first home with KiwiSaver
- FMA Disclose register — KiwiSaver scheme PDS documents
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Important Information
Disclaimer: This page provides general information only and does not constitute financial advice under the Financial Markets Conduct Act 2013. FundCompare.co.nz is not a licensed Financial Advice Provider (FAP).
We do not assess suitability, make recommendations, or provide personalised advice. The information shown is sourced from publicly available data and may not reflect current offerings. Past performance is not a reliable indicator of future returns. Investment returns can be negative, and you may receive back less than you invested.
Before making any decisions: Always verify current information directly with the relevant KiwiSaver provider and read their Product Disclosure Statement (PDS).
Need personalised advice? Consult a licensed Financial Advice Provider. Find advisers at fma.govt.nz
Compare every fund within a KiwiSaver scheme on the FMA Disclose register. Refreshed quarterly. Independent — FundCompare is not a Financial Advice Provider; general information only.
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Important Information and Disclosure
The information provided on this website is not a recommendation to buy, sell, or hold any financial products. Nothing on this website constitutes financial advice for the purposes of the Financial Markets Conduct Act 2013. FundCompare.co.nz is not a licensed Financial Advice Provider.
Investing involves risk. The value of your KiwiSaver investment can go down as well as up, and you may get back less than you put in. Past performance is not a reliable indicator of future returns.
Before making any investment decision, you should read the Product Disclosure Statement (PDS) for the fund carefully. If you have questions or are unclear about the implications of your investment decision, you should seek advice from a licensed Financial Advice Provider.
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