How much of my KiwiSaver can I use for my first home?
If you’re a first-time homebuyer in New Zealand and have been a KiwiSaver member for at least three years, you can withdraw most of your KiwiSaver savings for your first home purchase. This includes your contributions, your employer’s contributions, the government contribution, interest earned, and any fee subsidies you may have received.
Read More: First Home Buyers Guide
However, you must leave a minimum of $1,000 in your KiwiSaver account, and funds transferred from a complying Australian superannuation scheme are not eligible for withdrawal. Additionally, you must intend to live in the home or on the land you purchase, and it should be located in New Zealand or on Māori land where you have the right to occupy.
Read More: How KiwiSaver Can Help You Buy Your First Home
If you’ve previously owned a house, there are specific circumstances in which you may still be eligible for a KiwiSaver withdrawal for a house purchase. It’s important to discuss your eligibility and the withdrawal process with Kāinga Ora – Homes and Communities, the government agency responsible for housing services. If you’re buying a house with a partner, both of you can apply for a first home withdrawal if you meet the eligibility criteria.