How to Use Your KiwiSaver for Your First-Home Deposit (Yes, It’s Easier Than You Think)

If you’ve been contributing to KiwiSaver for a few years, you might be sitting on one of the most powerful tools for getting into your first home – and you may not even realise it.

KiwiSaver isn’t just a retirement fund. For first-home buyers, it can be the difference between “one day…” and “we did it!”

Let’s break down how it actually works – in simple, stress-free terms.

You Only Need Three Years to Unlock It

Once you’ve been a KiwiSaver member for at least three years, you’re usually eligible to withdraw almost your entire balance for your first home.

That includes:

• your contributions
• your employer’s contributions
• the government’s annual contributions

The only thing that stays behind is a minimum balance of $1,000 – the rest can go straight into your deposit.

This surprises a lot of people. Many assume they can only use their portion, or only the recent contributions. In reality, almost the entire balance is available.

The Process Is surprisingly Simple

When you’re ready to buy, you’re not running around trying to figure out paperwork.

Your KiwiSaver provider and your solicitor handle the withdrawal for you.
No stress. No guesswork. No “what if I do this wrong?”

The funds are sent directly to your solicitor before settlement, ensuring the money is used exactly how it’s meant to be – safely, correctly, and on time.

What Does That Actually Mean in Real Numbers?

Here’s a real-world example:

A couple with around $40,000 combined in KiwiSaver could use that as a 5% deposit on an $800,000 home (when using low-deposit schemes like the First Home Loan).

That’s the part most people miss – your KiwiSaver might already be enough to get you into the market now, not years from now.

Why KiwiSaver Is One of the Best First-Home Tools in New Zealand

✔ You don’t have to repay it
✔ You can combine it with your partner
✔ It works with low-deposit lending
✔ The process is controlled and secure
✔ It massively boosts your buying power

And for a lot of buyers, KiwiSaver is the difference between feeling stuck… and finally getting started.

Thinking About Buying? Let’s Check Your Options

If you’re not quite sure what you can withdraw, what you’re eligible for, or how close you actually are to buying your first home – you’re not alone. That’s why our director, Mils Muliaina, has put together a quick video explaining how to use your KiwiSaver toward your deposit.

Send us a message, and we’ll walk you through your KiwiSaver options and help you map out a clear path into your first home.

Sometimes the biggest step forward is realising you already have more than you thought.