Using KiwiSaver to buy your first home

15 January, 2024

1 Minute Read

What you need to know if you are thinking about using KiwiSaver to buy your first home.

If you want to buy your first home (or land) in New Zealand, you might be able to withdraw your KiwiSaver to put towards a deposit or settlement. You can make a withdrawal if you:

1. Have been a KiwiSaver member for three years.

2. Have not made a first home withdrawal before.

3. Have not owned land or a home before in New Zealand or overseas (unless you are considered a second chance buyer by Kainga Ora).

4. Intend to live in the home or on the land you're buying. Unfortunately, you cannot withdraw your KiwiSaver to fund building a house on land you already own or for building expenses.

When making a first home withdrawal, you must leave a $1000 balance in your account.

If you have Australian Super Transfers and or Government contributions that you received while living overseas you will not be able to withdraw these.

To make a first home withdrawal, chat to the lawyer who is helping you complete the purchase and fill out the First Home withdrawal form found on our website. They can also help you complete the statutory declaration and provide the certified documents required. If you're unsure, our withdrawal form has a list of everything you need.

If you have any questions about the form, don't hesitate to get in touch with our friendly customer service team!