If you've been a regular contributor to KiwiSaver, you might be eligible for a grant from Kāinga Ora - Homes and Communities (previously known as Housing New Zealand) to help you buy your first home. The amount of the grant depends on whether the home is existing or newly built. You could get:
- $1,000 a year for each year you've been a KiwiSaver member, up to a maximum of $5000, if your first home will be an existing home.
- $2,000 a year for each year you've been a KiwiSaver member, up to a maximum of $10,000, if your first home will be newly built.
The Government pays this directly to your New Zealand solicitor (or licensed conveyancer) on settlement day - it does not come out of your KiwiSaver account.
Some criteria apply, including limits on your income and the value of the house you buy, and requirements for a minimum deposit. See the Kainga Ora website for more information, including how to apply.