If you've been a regular contributor to KiwiSaver, you might be eligible for a grant 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 Housing New Zealand website for more information, including how to apply.