Buying Your First Home with KiwiSaver

Many Kiwis are eligible to use their KiwiSaver to help get them into their first home but understanding how (and if) you can access your funds can be a little confusing. Here at Solution Street, we specialise in guiding budding homeowners through their KiwiSaver first home withdrawal and can show you how to use it to get the best possible home for your financial position. Check out the helpful information below or contact us to see if you are eligible for withdrawal.

Are you eligible to buy a house with KiwiSaver?

In order to withdraw from your KiwiSaver scheme to buy or build your first home, you must first meet a range of criteria. Below is a series of questions that will help you decide what your options are:

Yes – Excellent! You may be eligible to withdraw your funds. Continue reading below.
No – If you’re not currently a KiwiSaver member, all is not lost. Join as soon as you can as you only need to have been contributing for three years before you’re eligible to make a withdrawal.

To be eligible to withdraw your KiwiSaver savings, you need to have been a member of KiwiSaver for a minimum of three years. If you’re not sure when you joined KiwiSaver, contact your fund provider who will be able to help you.

Generally, withdrawing your KiwiSaver contributions is restricted to first home buyers. If you’re not a first home buyer, you may still be eligible, depending on your financial position. In this case, your best bet is to contact Housing New Zealand or your fund provider for more information.

Only people who are buying a house to live in can access their KiwiSaver savings. KiwiSaver can’t be used to buy an investment property.

If you think you’re eligible, the best thing to do is to get in touch with your KiwiSaver provider and ask them about the process to withdraw your funds. They will likely begin with a simple phone questionnaire. Your provider will be able to confirm your eligibility and the amount you can withdraw. They will then issue you with a letter to confirm. Once you’ve signed a sale and purchase agreement, they will send you some forms that you and your lawyer will complete together.

There’s no limit on the purchase price for the home you want to use your KiwiSaver to buy, but Solution Street went ahead and made our new build homes affordable for you anyway.

The help you need, from start to finish

Get in touch with our helpful team today to learn more about KiwiSaver first home withdrawals and how you can use them to take a big step forward on your path to property ownership!