What is the KiwiSaver HomeStart grant?
If you’re a first-time buyer and you’ve been making regular KiwiSaver contributions for at least 3 years, you may be able to apply for a First Home Grant (previously KiwiSaver HomeStart Grant) through Kāinga Ora.
How it works
If you buy an existing home, you can get $1,000 for each year you’ve paid into the scheme. The most you can get is $5,000 for 5 years.
If you buy a new home or land, you can get $2,000 for each year you’ve paid into the scheme. The most you can get is $10,000 for 5 years.
Who can apply
To apply, you must:
- be 18 or older
- have been contributing at least the minimum amount of your income (currently 3%) to your KiwiSaver scheme for 3 years
- have had an income in the previous 12 months (before tax) of less than:
- $85,000 for 1 person
- $130,000 for 2 or more people
- have a deposit of at least 5% of the purchase price
- agree to live in your property for at least 6 months:
- from the date you buy your home (the settlement date), or
- if the house is new when the Code of Compliance Certificate is issued.