KiwiSaver First Home Calculator: How Much Can You Withdraw in 2026?
Work out exactly how much of your KiwiSaver you can use toward your first home deposit in New Zealand, including the minimum balance you must leave behind and how the First Home Grant stacks on top.
Buying your first home in New Zealand is expensive, and for most Kiwis the KiwiSaver first home withdrawal is the single biggest lever you have. But the rules around how much you can withdraw, what you need to leave behind, and how the First Home Grant stacks on top aren't always clear. This guide walks through the numbers — and links you to a free calculator that does the maths for you.
How the KiwiSaver first home withdrawal actually works
When you buy your first home in New Zealand, you can withdraw almost your entire KiwiSaver balance to put toward the deposit. The only catch: you must leave at least NZ$1,000 in the account to keep it active.
What's included in the withdrawable amount:
- Your own contributions
- Your employer's contributions
- The annual government contribution (up to NZ$521.43 per year)
- All investment returns earned on those contributions
What's excluded:
- Any balance transferred in from an overseas pension scheme (e.g. a UK or Australian super fund)
To qualify, you need to have been a KiwiSaver member for at least three years, and the home must be intended as your main place of residence — not a rental.
First Home Grant: the extra money on top
On top of the withdrawal, you may qualify for the First Home Grant administered by Kāinga Ora:
| Property type | Grant per buyer |
|---|---|
| Existing home | Up to NZ$5,000 |
| Newly built home | Up to NZ$10,000 |
The grant is paid to your solicitor at settlement. Both buyers in a couple can apply separately, so a couple buying a new build can receive up to NZ$20,000 combined.
Eligibility depends on:
- Your income being under the cap (NZ$95,000 for single buyers, NZ$150,000 for couples at time of writing — always verify with Kāinga Ora)
- The house price being under your region's cap
- Making KiwiSaver contributions at or above the minimum rate for three years
Running the numbers: a worked example
Let's say Mia and Jordan are buying their first home together in Wellington for NZ$780,000:
- Mia's KiwiSaver: NZ$42,000 → withdrawable: NZ$41,000
- Jordan's KiwiSaver: NZ$38,000 → withdrawable: NZ$37,000
- First Home Grant (existing home, both qualify): NZ$5,000 × 2 = NZ$10,000
Total deposit from KiwiSaver + Grant: NZ$88,000
On a NZ$780,000 property, that's an 11.3% deposit — meaning they can apply for a standard 80% loan without hitting LVR restrictions, assuming bank serviceability stacks up.
This is where our KiwiSaver First Home calculator saves you the sums. Plug in both balances, the property price, and region, and it shows you:
- Exact withdrawable amount from each KiwiSaver
- Whether you qualify for the First Home Grant
- Your effective deposit size and LVR
- How much more you'd need to save to hit a 20% deposit
Common mistakes first home buyers make
1. Waiting until you've saved a 20% deposit. You don't need 20% to buy. With KiwiSaver + Grant + the First Home Loan scheme (5% deposit option via Kāinga Ora), many first home buyers get in with well under 20%. Waiting often costs more in rising house prices than it saves in LMI or higher interest.
2. Forgetting the three-year rule. If you opted out of KiwiSaver early in your career and rejoined recently, check your total membership tenure carefully. Time across multiple providers stacks — but contribution holidays can pause the clock in some cases.
3. Not leaving enough for purchase costs. KiwiSaver goes to your deposit, but you still need cash for solicitor fees (typically NZ$1,500–2,500), a LIM report (NZ$200–400), builder's report (NZ$500–700), and registered valuation (NZ$700–1,000). Budget at least NZ$3,000–5,000 in additional settlement costs.
4. Applying for the Grant too late. You need to apply to Kāinga Ora and get pre-approval before you go unconditional on a property. Leaving it to the last minute is the single most common reason Grants fall through.
Second-chance buyers
If you've previously owned property but no longer do — for example after a relationship split — you may still be eligible as a previous home owner through Kāinga Ora, provided you meet their "realistic financial position" test. Talk to a mortgage adviser before assuming you're locked out.
Try the calculator
Our KiwiSaver first home calculator is free to use, with no sign-up required. It takes about 60 seconds to get a personalised number.
→ Calculate your KiwiSaver first home withdrawal
If you're a mortgage adviser, you can embed this calculator (and 32 others) on your own site as a white-labelled widget — free 30-day trial, no credit card required. See how it works for brokers.
Frequently asked questions
How much KiwiSaver can I withdraw for my first home?
You can withdraw almost the entire balance of your KiwiSaver account toward your first home deposit, but you must leave at least NZ$1,000 in the account. Employer and member contributions, government contributions, and investment returns are all eligible. Any amounts transferred from an overseas pension scheme are not.
How long do I need to be in KiwiSaver before I can use it to buy a house?
You must have been a KiwiSaver member for at least three years before you can make a first home withdrawal. The three years don't need to be with the same provider — time across multiple providers counts.
Can my partner also withdraw from their KiwiSaver for the same home?
Yes. If you're buying together, each person who meets the eligibility rules can make their own first home withdrawal, and both withdrawals can go toward the same property.
What's the difference between the KiwiSaver first home withdrawal and the First Home Grant?
The withdrawal lets you pull your own KiwiSaver balance (minus the NZ$1,000 minimum) out to use as deposit. The First Home Grant is separate government money — up to NZ$10,000 for new builds or NZ$5,000 for existing homes per buyer — paid to your solicitor at settlement if you meet the income and house price caps set by Kāinga Ora.
Can I use my KiwiSaver for an investment property?
No. The first home withdrawal is only for a property you intend to live in as your main home. If you've previously owned a home you may still qualify as a 'second chance' buyer through Kāinga Ora, but the property must still be owner-occupied.
Related Articles
Bright-Line Test Calculator NZ: The 2026 Rules Explained
The NZ bright-line test changed in July 2024 and now sits at a 2-year period for residential property. Use our calculator to work out if your sale is taxable, plus exemptions for main home, inherited property, and rollover relief.
The RBNZ's debt-to-income restrictions took effect on 1 July 2024. Here's how the 6x owner-occupier and 7x investor caps actually work, the 20% speed limit for exceptions, and how to stress-test a client's borrowing capacity.
8 NZ Mortgage Calculators Every Kiwi Adviser Should Have on Their Website
A shortlist of the mortgage and property calculators that move the needle on conversion for New Zealand mortgage advisers — what each one does, who it's for, and how to embed them on your site in under 5 minutes.