KiwiSaver First Home Withdrawal: How to Access Your Savings for Your First Home
If you've been in KiwiSaver for at least 3 years, you can withdraw almost your entire balance to help buy your first home. This is separate from the First Home Grant (which closed in May 2024) and separate from the First Home Loan. The withdrawal itself is still fully available and is the most common way KiwiSaver members access their funds before age 65.
This guide covers who's eligible, how much you can access, the application process, and how it fits into your deposit picture.
Who's eligible
You can make a first home withdrawal if you meet all of these:
| Requirement | Detail |
|---|---|
| KiwiSaver membership | At least 3 years continuously |
| First home | You haven't owned a home or land before, alone or jointly |
| Intend to live there | The property must be your primary residence (not an investment) |
| Not previously withdrawn | You haven't made a KiwiSaver first home withdrawal before |
Previous homeowners: the Kāinga Ora exception
If you've owned property before but are now in a similar financial position to a first home buyer, you may still qualify. You need to apply directly to Kāinga Ora (not your KiwiSaver provider) for a determination. Kāinga Ora assesses whether you're in a position equivalent to a first home buyer — for example, if you owned property years ago but lost it through relationship breakdown, bankruptcy, or natural disaster.
This is not automatic. You need to provide evidence directly to Kāinga Ora, and they make the decision.
How much can you withdraw
You can withdraw almost everything in your KiwiSaver account:
- Your own contributions
- Employer contributions
- Government contributions (member tax credits)
- Investment returns earned on all of the above
What stays behind: A minimum of $1,000 must remain in your account. This keeps your KiwiSaver membership active.
What you can't withdraw: Any funds transferred from an Australian Complying Superannuation scheme under the trans-Tasman portability arrangement. These are locked until age 65.
Worked example
Sarah has been in KiwiSaver for 6 years on a $75,000 salary at 3% contribution rate:
| Component | Amount |
|---|---|
| Her contributions (6 years) | ~$13,500 |
| Employer contributions (3%) | ~$13,500 |
| Government contributions ($521/year) | ~$3,126 |
| Investment returns (growth fund) | ~$5,800 |
| Total balance | ~$35,926 |
| Less $1,000 minimum | -$1,000 |
| Available for withdrawal | ~$34,926 |
Combined with personal savings and the First Home Loan (5% deposit), this could mean Sarah has enough for a deposit on a property up to roughly $700,000.
The First Home Grant is closed
The First Home Grant (previously the KiwiSaver HomeStart Grant) closed to new applications on 22 May 2024. This was a separate government grant of up to $5,000 for existing homes or $10,000 for new builds. It is no longer available.
The KiwiSaver first home withdrawal is a different product and remains fully available. Don't confuse the two — the withdrawal is your own money, not a government grant.
The First Home Loan is still available
The First Home Loan, underwritten by Kāinga Ora, allows eligible buyers to purchase with as little as a 5% deposit (instead of the standard 20%). Key eligibility:
- Income below $95,000 (individual) or $150,000 (couple/with dependents) in the last 12 months
- House price within the regional cap for your area
- Must be a first home buyer (or meet the Kāinga Ora previous-owner exception)
The First Home Loan can be combined with your KiwiSaver withdrawal. This is one of the most common pathways for first home buyers in NZ.
How to apply for the withdrawal
The process goes through your KiwiSaver provider, not IRD. Here's the sequence:
1. Sign a sale and purchase agreement — you need a property under contract before you can apply.
2. Contact your KiwiSaver provider — request a first home withdrawal application form. Most providers have this available online.
3. Get a statutory declaration — this is a legal document where you declare you're buying your first home. Your lawyer or conveyancer can prepare this.
4. Submit your application — provide:
- Completed withdrawal form
- Signed statutory declaration
- Copy of the sale and purchase agreement
- Proof of identity
5. Wait for processing — your provider must receive all documents at least 10 business days before settlement. The funds are paid directly to your lawyer's trust account, not to you personally.
Important: You cannot make a first home withdrawal after the property purchase has settled. The timing is strict — submit well before settlement day.
Upcoming change: service tenancy workers
A KiwiSaver amendment bill is expected in mid-2026 that will allow workers whose jobs require them to live in employer-provided housing — farm workers, rural teachers, defence personnel, police — to use their first home withdrawal even if they don't immediately move into the property they're purchasing. Currently, the requirement to "live in the property" blocks these workers. First-time farm buyers will also be able to use their KiwiSaver toward purchasing a farm through a company or trust they majority-own (KiwiSaver Act 2006, proposed amendment).
Common questions
Can I withdraw for a house and land package?
Yes. You can use the withdrawal to buy land and build, or to buy a house and land package. The same eligibility rules apply.
Can my partner and I both withdraw?
Yes, if you're both KiwiSaver members for 3+ years and both are first home buyers. You each apply separately through your own provider.
What if the purchase falls through?
If settlement doesn't proceed, the funds are returned to your KiwiSaver account. You can apply again for a different property.
Can I choose how much to withdraw?
Yes. You can withdraw a partial amount — you don't have to take everything. Some people choose to leave more than $1,000 in KiwiSaver if they don't need the full balance for their deposit.
Does the withdrawal affect my KiwiSaver going forward?
Your KiwiSaver membership continues. Contributions from your salary, employer, and the government all keep flowing. You're just starting from a lower balance.
What to do next
- First Home Buyer Guide NZ — the full picture: deposits, LVR, grants, and the buying process
- KiwiSaver Projection — see what your balance looks like at different contribution rates
- Mortgage Affordability Calculator — what can you actually borrow?
- KiwiSaver Hardship Withdrawal — different rules for accessing KiwiSaver due to financial hardship
Last updated: 6 April 2026. Sources: IRD (ird.govt.nz), Kāinga Ora (kaingaora.govt.nz), KiwiSaver Act 2006, Financial Services Council guidelines. The First Home Grant closed to new applications on 22 May 2024. This is educational content, not financial advice.
Continue Reading
This is educational content, not financial advice.