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  • You have not previously withdrawn your KiwiSaver funds to buy a home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