Buying your first home with KiwiSaver

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KiwiSaver has helped many Kiwis into their first home. If you're thinking about getting on the property ladder, here's how KiwiSaver could help.


KiwiSaver first home withdrawal

KiwiSaver has features designed to help first home buyers. If that’s you, and you've been a member of KiwiSaver for a minimum of three years, you may be able to withdraw some of your KiwiSaver savings to put towards purchasing your first home.

Even if you've owned property before, you may still be eligible to withdraw your savings if Kāinga Ora decides that you’re in the same financial position as a first home buyer.

If you've got a partner who has previously owned a home but you haven’t, you can still apply for the withdrawal.

You’ll be eligible for a KiwiSaver first home withdrawal if:

  • You've been saving with KiwiSaver (or another complying superannuation fund) for at least three years.
  • You're a first-time property or land owner.
  • The property or land is in New Zealand.
  • You're going to live in the home you're buying or build a home to live in on the land you're buying.
  • It's the first time you've made a KiwiSaver withdrawal to buy a home.
  • If you have previously owned a home before, you may qualify for a previous home owner withdrawal through Kāinga Ora.


How much can I withdraw?

If you meet the eligibility criteria, you’ll be able to use your KiwiSaver savings to put towards the purchase of your first home. You'll need to leave a minimum balance of $1,000 in your KiwiSaver account and you cannot withdraw any amount transferred from an Australian complying superannuation fund.

Find out your KiwiSaver balance


KiwiSaver HomeStart grant

You could be eligible for a KiwiSaver HomeStart grant of up to $5,000 to buy an existing home, or up to $10,000 if you are building or purchasing a newly built home. If you’re doing this with someone else and they're eligible, you could get up to $20,000 between you (for building or buying a newly built home). Kāinga Ora administer this grant.

You can check with Kāinga Ora to see if you are eligible. Income caps, house price caps and other criteria apply.


Important information to know before you buy

If you are using KiwiSaver to buy your first home, you’ll need to get your application to us at least ten working days before the settlement date.

If you’ve already bought or settled on a house or land, you won’t be eligible for the KiwiSaver first home withdrawal as you’ll already be a home or landowner.

Ready to buy right now?

Find out how to apply for a KiwiSaver first home withdrawal.

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Interests in the ASB KiwiSaver Scheme (Scheme) are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). ASB provides Scheme administration and distribution services. No person guarantees interests in the Scheme. Interests in the Scheme are not deposits or other liabilities of ASB. They are subject to investment risk, including possible loss of income and principal invested. For more information see the ASB KiwiSaver Scheme Product Disclosure Statement available from this website and the register of offers of financial products at www.business.govt.nz/disclose (search for ASB KiwiSaver Scheme).

ASB KiwiSaver Scheme Buying your first home with KiwiSaver