Use your KiwiSaver to buy your first home - with the right advice behind you
Buying your first home is one of the biggest financial decisions you'll make. Your KiwiSaver can be a powerful part of the deposit - most eligible buyers need at least three years of KiwiSaver membership and leave $1,000 in the account when they withdraw. Cam helps you get it right, for free. See when it makes sense to withdraw.
Who is eligible for a KiwiSaver first home withdrawal?
To qualify for a KiwiSaver first home withdrawal you generally need to meet three criteria:
- Three-year KiwiSaver membership. You must have been a KiwiSaver member for at least three years.
- Primary residence intent. The property must be your main home - not an investment property or holiday home.
- No current home or land ownership. You must not currently own any house or land. If you have previously owned property but no longer do, you may still qualify - see below.
What about previous homeowners?
If you have owned a home before but no longer do, you may still be eligible through Kainga Ora's second chance withdrawal. Eligibility is based on your realisable assets - in the Christchurch area the asset limit is around $115,000 (as at June 2026). Cam can check whether you qualify in your free session.
How much can you withdraw?
Most eligible members can withdraw nearly all of their KiwiSaver balance - everything except $1,000, which must stay in the account for retirement. The amount available depends on your contribution history, your contribution rate, employer contributions, and how your fund has performed. If both people in a couple qualify, both balances can be used toward the same purchase - which can significantly increase the combined deposit.
Everything you need to know about KiwiSaver and your first home
Are you eligible to withdraw?
You need to have been a member for at least 3 years and be buying your first home to live in. There are also criteria around your current property ownership status. Cam walks you through your eligibility in plain English.
Which fund should you be in now?
This is where most first-home buyers get caught out. If you're buying in the next 1-3 years, compare which providers offer the best funds for your timeline - you may need to shift to a more conservative fund to protect your balance from a market downturn right before settlement day.
How much can you actually withdraw?
You can withdraw everything except $1,000. Cam helps you understand exactly what you'll have available, how it fits into your deposit - use our calculator to see your numbers, and what happens after you've made the withdrawal.
What should you do after the purchase?
Many first-home buyers aren't sure whether to keep contributing to KiwiSaver after they've bought. Cam shows you the real numbers - in almost all cases, staying in is the right call. Watch a quick video explaining why.
Simple steps to using your KiwiSaver for your first home
Check eligibility
Confirm you have been a KiwiSaver member for 3+ years and meet the property ownership criteria. Cam does this with you in your free session.
Review your fund
Make sure you're in the right type of fund given your purchase timeline - and with the best provider for a first-home buyer. Cam compares your options for free.
Apply to withdraw
Apply directly to your provider before settlement - typically 10-15 business days before you need the funds. Cam helps you prepare the application.
Common first-home KiwiSaver mistakes
Staying in the wrong fund too long
Some people take too much risk in the lead-up to buying - their balance drops right before they need it. Others are too conservative for too long and miss years of potential growth. The right fund changes as your purchase gets closer, and getting that timing right matters.
Waiting too long to get advice
The biggest improvements to a KiwiSaver position happen years before the purchase, not in the final months. If you are thinking about buying in the next 3-5 years, now is the time to review your fund - not right before you need the money.
Not allowing enough time for the withdrawal
The process typically takes 10-15 working days once all documents are submitted. It involves your KiwiSaver provider, your solicitor, and your lender. Starting early and having everything in order avoids last-minute stress at settlement.
Ignoring fees and fund structure
Not all KiwiSaver funds are equal. Differences in management fees and fund structure can add up to thousands of dollars even over a short savings period. Cam compares providers across the market to make sure your money is working as hard as possible before you need it.
Trusted by Kiwis like you
"Over a short conversation, he listened to us describe our priorities and timelines, talked us through options, and was clear when our thinking and his expertise were misaligned. Cam made the meeting and discussion easy, which was what we needed - and did the admin work to get us signed up. Great service tip to tail."
"Cameron explained KiwiSaver in a personal way, making it easier to understand and see how I would be positioned come retirement. It is so valuable to have an actual person to sit down and discuss this with. Friendly, approachable, and prompt. Highly recommend for KiwiSaver support!"
"Cam made it very easy to change - he explained everything in plain man terms. When you don't really understand what KiwiSaver is about, he made us feel 100% confident. It was a no brainer."
KiwiSaver and first homes, answered
Can I use my KiwiSaver to buy my first home?
The first home withdrawal allows you to pull out most of your KiwiSaver balance, your contributions, employer contributions, government contributions, and investment returns, to put towards buying your first home. You must leave at least $1,000 in your account. Key conditions include: you must have been a KiwiSaver member for at least three years, you must not have previously owned property (with some exceptions for previous owners assessed by Kāinga Ora), the property must be in New Zealand, and you must intend to live in it as your principal place of residence. Note: the First Home Grant was closed in May 2024 and is no longer available.
What fund should I be in if I am buying in the next few years?
As your purchase date gets closer, shifting to a more conservative fund protects your balance from a market downturn right before you need the money. Exactly when to shift depends on your timeline and provider. Cam can walk you through this for free.
How long does a first-home withdrawal take?
Typically 10 to 15 business days from when you apply to your provider. You will need a signed sale and purchase agreement. Cam helps you prepare everything so there are no surprises at settlement.
Should I keep contributing to KiwiSaver after I buy?
In almost all cases yes. You continue getting employer contributions, the government incentive, and the long-term compound growth benefit. Cam can show you the real numbers for your situation in your free session.
What if I'm not sure I qualify?
Book a free session and Cam will check everything for you. The eligibility rules have a few nuances (including past property ownership), and it's worth confirming before you start the process.
Can couples combine their KiwiSaver for a first home?
Yes. If both partners qualify, both KiwiSaver balances can be used toward the same purchase. Each person applies separately to their own provider, and the combined funds go toward the shared deposit. This can significantly increase the total available. Cam can check eligibility for both of you in a single session.
Can I use KiwiSaver to buy vacant land?
In most cases yes - as long as you intend to build on the land and live there as your primary home. The same three-year membership and eligibility criteria apply. If you are planning to build, Cam can review your fund and timeline to make sure your strategy fits the longer lead time involved.
Can I withdraw my KiwiSaver before signing a sale and purchase agreement?
Usually no. The withdrawal is processed through your solicitor as part of the purchase, and you generally need a signed sale and purchase agreement before the application can be submitted. Cam helps you understand the timing so you are prepared well before settlement day.
Does Solid Steele help with mortgages too?
No - Cam specialises in KiwiSaver advice only. He does not provide mortgage advice. However, he works alongside trusted mortgage brokers and is happy to refer you to someone he knows once your KiwiSaver is sorted.
Is your KiwiSaver on track for your first home? Try the free KiwiSaver Health Check - 10 quick questions, instant result.
Reviewed by Cameron Steele, Financial Adviser (FSP1010212) - updated July 2026.