KiwiSaver First Home Withdrawal

What is the KiwiSaver first home withdrawal?

If you have been in KiwiSaver for three or more years, you may be able to withdrawal your savings but must leave $1,000 in your KiwiSaver account.
It must be your first home and not an investment property.

Am I eligible for the KiwiSaver first home withdrawal?

Generally you are if you;

  • Have been in KiwiSaver for at least 3 years
  • Haven’t used KiwiSaver to purchase a property previously
  • Are buying a home to live in

Second Chance Buyers

If you have owned a property previously Kāinga Ora will need to approve your application. To meet the criteria to receive the KiwiSaver first-home withdrawal as a previous home owner;

  • You have not previously withdrawn your KiwiSaver funds to buy a home
  • You have been a member of KiwiSaver for at least three years
  • You have previously owned property, but no longer own any interest/share in property
  • You do not have realisable assets totalling more than 20% of the house price cap for an existing/older property in the area that you are looking to buy in. Kāinga Ora considers the following to be realisable assets:
    • Money in bank accounts (including fixed and term deposits)
    • Shares, stocks and bonds
    • Investments in banks or financial institutions
    • Building society shares
    • Any money paid to, or held by, the real estate agent or solicitor as a deposit on the property
    • A boat or caravan (if the value is over $5,000)
    • Additional vehicles (such as classic motorbikes or cars – not being used as your usual method of transport)
    • Other individual assets valued over $5,000

Source Kāinga Ora


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See all the eligibility criteria