Can I withdraw my KiwiSaver to buy my first home and what are the eligibility rules?

Yes, you can withdraw most of your KiwiSaver savings to help purchase your first home. This is known as a KiwiSaver first home withdrawal.

Eligibility requirements:

• You must have been a KiwiSaver member for at least 3 years (the 3 years starts from the date you joined, not when you started contributing)
• You must be purchasing your first home (you must not currently own, or have previously owned, a home or land)
• You must intend to live in the property for at least 6 months
• You can only use this withdrawal once in your lifetime

What you can withdraw:

• All of your own contributions
• All employer contributions
• All government contributions
• Any investment returns earned
• You must leave a minimum of NZ$1,000 in your KiwiSaver account

How to apply:

• Contact your KiwiSaver provider and request a first home withdrawal application
• Provide proof of your property purchase (such as a signed sale and purchase agreement)
• Your provider will process the withdrawal and send the funds directly to your solicitor

Special circumstances:

• If you previously owned a home with a former partner and are now in a similar financial position to a first-home buyer, you may be able to apply as a second-chance buyer through Kainga Ora
• If your partner already owns property, you can still withdraw your KiwiSaver funds provided you meet the eligibility requirements
• Contribution holidays and savings suspensions do not reset the 3-year membership clock

You may also be eligible for the First Home Grant through Kainga Ora, which provides up to NZ$5,000 for an existing home or NZ$10,000 for a new build.