Withdrawing Savings to Buy Your First Home
You may be able to withdraw most of your savings to buy your first home however, you will need to leave a balance of $1,000 in your account.
You must have been a member for at least 3 years. Note that not all scheme providers allow withdrawals for your first home.
If you are not purchasing your first home, you may still be able to withdraw funds however, Housing New Zealand will need to determine if you are in the same situation as a first home buyer before you can proceed.
Kiwisaver First Home Grant
You could also be entitled to the Kiwisaver First Home Grant. If you’ve been making frequent payments to your KiwiSaver account, you may be entitled to the Kiwisaver First Home Grant through Housing New Zealand.
Note that if you’ve previously owned a home you may still qualify for the First Home Grant if as above, Housing New Zealand decides you’re in the same financial situation as a first-time buyer.