Obtaining your deposit for your first home is now getting easier with using your Kiwisaver and utilising the Home Start Grant.

Kiwisaver - What can you use?

  • Your contributions
  • Your employers contributions
  • Returns on investments (interest earned)
  • Any member tax credits

What can you not use?

  • Unable to withdrwal your $1,000 kick start

What are the rules?

  • Must be a member of Kiwisaver for 3 years
  • If you are a previous home owner in some circumstances, you may still be eligible to withdrawal your savings to pruchase your home.

Home Start Grant - What is it?

  • For purchasing an existing home, the grant is between $3,000 and $5,000 based on $1,000 each year of contributing to Kiwisaver
  • For building or purchasing a new home or purchasing land to build a new home on, the grant is doubled to $2,000 per year of contribution in Kiwisaver up to a maximum of $10,000 per member

What are the rules?

  • Have been contributing the required minimum amount to Kiwisaver for at least 3 years
  • 18 years of age or older
  • Be purchasing or building your first home
  • Have a household income (before tax) of less than $80,000 per year (for one person) or less than $120,000 per year (for two or more people)
  • Have a deposit of 10% or more of the purchase price including the addition of the grant
  • Be planning to live in the house for at least 6 months from settlement/completion of the property
  • Income and house price caps will apply

If you are interested in utlising your Kiwisaver or applying for a Home Start Grant call Kourtnee Bolton today for further information on 027 842 8661 or 06 8343 408