KiwiSaver First Home Withdrawal
For most first-home buyers in New Zealand, KiwiSaver is the biggest single source of deposit. Here's how the withdrawal works in 2026 — and how it pairs with a Strathmore Park house and land package.
What you can withdraw
Almost everything in your KiwiSaver account, minus a $1,000 minimum balance. That includes your contributions, your employer's contributions, and any investment returns. The annual government Member Tax Credits stay in the account and don't come out.
Who's eligible
- 3+ years of KiwiSaver membership
- Buying your first home in New Zealand
- The home is your principal place of residence (not a rental)
- You don't currently own property
A separate "second-chance" pathway exists if you've owned before but are now in a similar financial position to a first-home buyer — Kāinga Ora confirms eligibility on these case-by-case.
The application process
- Sign your Sale and Purchase Agreement (the offer becomes contractually binding once conditions are met).
- Apply through your KiwiSaver provider — most have an online form.
- Submit ID, the SPA, and a statement that the home is your principal place of residence.
- Provider processes in ~10 working days and releases funds to your solicitor's trust account.
- Solicitor settles the property at settlement day.
Combining KiwiSaver with a Strathmore Park purchase
Strathmore Park uses a 10/40/50 payment structure. The KiwiSaver release typically lines up with the 50% settlement stage — when your title is issued and the build is complete. Your 10% deposit and the 40% possession payment come from other sources (savings, partner contribution, gift from family, or bridging).
For Affordable Home buyers paying $550,000, a couple with healthy KiwiSaver balances can often cover the bulk of the 50% settlement payment via combined withdrawals — making the path realistic without a large cash deposit.
General information only — not financial advice. Confirm current rules with your KiwiSaver provider, Kāinga Ora, or a mortgage broker before relying on any of this.
KiwiSaver Withdrawal — FAQ
How much KiwiSaver can I withdraw for a first home?
Almost the whole balance — KiwiSaver requires a $1,000 minimum balance be left in the account. Your member tax credits stay too (you can't withdraw those). Any voluntary contributions, employer contributions and investment returns above the $1,000 floor can come out toward your deposit.
What's the eligibility list?
You must have been a KiwiSaver member for at least 3 years; the home must be your principal place of residence (no investment properties); it must be in New Zealand; and you can't already own a property. Previous home owners may qualify under a separate 'second-chance' pathway if they're in a similar financial position to a first-home buyer.
How long does the withdrawal take?
Usually 10 working days from when your KiwiSaver provider receives a complete application package. The application includes proof of identity, the Sale and Purchase Agreement, and confirmation the home is your principal place of residence. Your solicitor coordinates with your provider.
Can I use KiwiSaver for the deposit at signing or only at settlement?
Typically settlement. Most providers release funds to your solicitor's trust account on or just before settlement day, not at signing of the Sale and Purchase Agreement. For Strathmore Park's 10/40/50 structure, the KiwiSaver release lines up with the 50% settlement payment.
Can my partner and I both withdraw?
Yes — each KiwiSaver account is individual. If you're buying together and you both meet the eligibility (3-year membership, first-home buyer, NZ residence) you can both withdraw and combine the funds toward the same property.
Does it work for new builds?
Yes — new builds and house and land packages explicitly qualify as 'first homes' for KiwiSaver withdrawal. Strathmore Park's house and land packages are eligible.
Plan your first-home purchase
Register interest at Strathmore Park and we'll send a section + builder shortlist that fits your KiwiSaver + First Home Loan position.