Building your first home - How KiwiSaver & HomeStart grant can help

Thinking of making your very first home a brand new one? The good news is - there are funds available such as The KiwiSaver First Home withdrawal and the HomeStart grant that can help you kickstart the build of your first home.

KiwiSaver has two main schemes that can help you build your first home - The Kiwisaver first-home withdrawal and the HomeStart grant.

The Kiwisaver first-home withdrawal

If you’ve been a KiwiSaver member for at least three years, you may have the ability to withdraw part of your KiwiSaver savings to put towards the purchase of your first home. However you must leave a minimum balance of $1000 in your account.

Your withdrawal can only be for the purpose of buying your first home - it cannot be taken out for an investment property. If you have owned a home previously, in some circumstances you may still be eligible to withdraw some of your savings. In this case, you may need to talk to someone from Housing New Zealand to determine if you’re in the same financial position as a first home buyer.

Your savings withdrawal can include funds from:

  • Your member contributions

  • Any employer contributions (voluntary and compulsory)

  • Any returns on investment(s) received

  • Any member tax credits

To apply for a first-home withdrawal contact your KiwiSaver provider.

The HomeStart Grant

Just like with the Kiwisaver first-home withdrawal, you need to be a member for at least 3 years to be eligible for the HomeStart grant. You also need to have been making regular contributions to your KiwiSaver for at 3 years - or at least the minimum allowable percentage of your total income.

If you’re purchasing a new home or building from scratch, the HomeStart grant is $2,000 for each year of contribution to the scheme. If you’re purchasing land to build a new home on, there is a maximum amount the combined land and new home can cost.

The minimum you can receive for a HomeStart grant is $6,000 (from 3 years of contribution), and the maximum is $10,000 (from 5 years of contribution).

Make sure to check the eligibility checklist for any other criteria you may need to meet.

First Home Grant :: Kāinga Ora – Homes and Communities (

First Home Decision Tool :: Kāinga Ora – Homes and Communities (

The team at Summit Homes can help you build your first home. With affordable and high quality house & land packages, you can enter the property market with ease.

Get in touch with us today to learn more!


Building your first home - How KiwiSaver & HomeStart grant can help