Savings withdrawal to buy your first home

To help you with the settlement cost for your first home, you may be able to withdraw some or all of your KiwiSaver savings (except for the $1,000 kick-start and member tax credit).  Please note that the monies withdrawn from KiwiSaver can not be used to pay the housing transaction deposit (i.e. the deposit usually paid once the sale & purchase agreement goes unconditional).

Making a first-home withdrawal

You must have been a KiwiSaver member or member of a complying fund for three or more years. You can only withdraw money to buy your first home - not an investment property.

If you have owned a home before, in some circumstances you may still be eligible to withdraw your savings. Your scheme provider may require you to contact Housing New Zealand to determine if you're in the same financial position as a first home buyer.

How to apply for a first-home withdrawal

You'll need to apply to your KiwiSaver provider if you want to make a first home withdrawal.

For further assistance click here to download a free copy of our booklet "Buying a first home with Kiwisaver for dummies".