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KiwiSaver is a voluntary scheme that is incorporated to function as a work-based saving. The idea of KiwiSaver is to help you save you money in a long-term basis, especially for retirement purpose. Several benefits are obtainable from this scheme ranging from helping you to buy your first home to collecting contributions from Government and your employers.

Two Key Home Loan Features

KiwiSaver is predominately embedded with two features when buying your first home. These features include;

  • The KiwiSaver Homestart Grant
  • The KiwiSaver first-home withdrawal.


This scheme provides potential first time homeowners the opportunity to access funding to the tune of $5,000 for individual and $10,000 if there are up three potential buyers hunting for older homes. That’s not all; it is also possible for first timer individual potential buyers to access up to $10,000, while two or more persons can access up to $20,000 when hunting for a brand new home.


One may ask; how does this scheme work. You are not alone asking this question. Several potential homeowners are also seeking to know how KiwiSaver homestart grant works. Don’t worry; this blog post has got you covered. Now here is how it works;

You will be entitled to access the fund once you have successfully contributed to KiwiSaver for a period of three years.

If your intention is to buy an old house, then the HomeStart grant would be $1,000 for every contributing year to the KiwiSaver scheme.

If your intention is to buy a brand new house, then the HomeStart grant would be $2,000 for every contributing year.  A new home is that home that must have received its building code compliance certificate not later than 6 months from the date KiwiSaver HomeStart application was made.

The compliance certificate must detail all building on the land and not just some part of the buildings. Relocating to an old or existing house does not qualify to be regarded as a new home and would be eligible for $3,000 to $5,000.
Grant may be given to properties that are bought off the plans. This is in rear cases.

Be informed that 20 working days or 4 weeks will be required after your application to access the KiwiSaver HomeStart from Housing New Zealand.

If you apply within given the four weeks’ notice, your application will not be attended to. What this means is that the funding you are seeking will not be paid out.

If you are a first-time potential homeowner, you can apply for pre-approval to accefss your KiwiSaver Homestart grant. It will go a long way to assist you when you want to apply for finance pre-approval and only valid for 6 months.  You have the leverage of buying properties with non-members.

It should be noted that the KiwiSaver HomeStart grant can only be accessed only once.

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