NZ First Home Grant Calculator
Find out how much you can access from the First Home Grant and your KiwiSaver withdrawal to help buy your first home in New Zealand. This calculator checks your eligibility based on income caps, regional house price limits, and KiwiSaver membership length, then shows your total available deposit. All calculations run privately in your browser.
How the NZ First Home Grant Works
The First Home Grant, administered by Kainga Ora, helps eligible first-time home buyers in New Zealand with a cash contribution toward their purchase. If you have been a KiwiSaver member for at least three years and meet income and house price caps, you can receive a grant based on your years of membership. For an existing home, the grant is NZD $1,000 per year of membership, capped at NZD $5,000 per person. For a new build, the grant doubles to NZD $2,000 per year, capped at NZD $10,000 per person.
If you are buying as a couple and both partners are eligible, the grant amounts double. A couple buying a new build with five or more years of membership could receive up to NZD $20,000 in total grant funding. The grant is paid directly to your solicitor at settlement and goes toward the purchase price of your home.
KiwiSaver First Home Withdrawal Rules
In addition to the grant, you can withdraw most of your KiwiSaver balance to put toward your first home deposit. The key rule is that you must leave a minimum of NZD $1,000 in your KiwiSaver account after the withdrawal. You can access your own contributions and their investment returns, but employer contributions and government contributions are only released at settlement.
To be eligible for the KiwiSaver first home withdrawal, you must have been a member for at least three years. The withdrawal is processed by your KiwiSaver provider and typically takes five to ten working days. Planning ahead is important, as you will need the funds available before your settlement date. The withdrawal can be combined with the First Home Grant for maximum deposit support.
Regional House Price Caps for 2025
Eligibility for the First Home Grant depends on the purchase price of the property staying within regional caps set by Kainga Ora. In Auckland, both existing homes and new builds have a cap of NZD $875,000. Hamilton, Tauranga, and Wellington share a cap of NZD $750,000 for both types. Christchurch has a cap of NZD $550,000 for both existing and new builds. The rest of New Zealand has lower caps: NZD $400,000 for existing homes and NZD $550,000 for new builds.
Income caps also apply. A single buyer must earn no more than NZD $95,000 gross per year, while a couple must earn no more than NZD $150,000 combined. These income thresholds are based on your total gross income for the 12 months before your application.
Tips for Maximising Your First Home Deposit
Start by checking your KiwiSaver balance and membership length well before you plan to buy. If you are close to three years of membership, waiting a few months could qualify you for the grant. Increasing your KiwiSaver contributions in the years leading up to your purchase directly increases the amount available for withdrawal. Remember that any voluntary lump-sum contributions you make to KiwiSaver can also be withdrawn for your first home.
Consider whether buying a new build might be better value for your situation. The grant amount per year of membership is double for new builds compared to existing homes, meaning a couple with five years of membership could get NZD $20,000 instead of NZD $10,000. Factor in the regional price caps when choosing where to buy, as properties in lower-cap regions may be more accessible while still meeting your needs.