KiwiSaver First Home Grant — How Much Can You Get?

If you’re dreaming of buying your first home in New Zealand, the KiwiSaver First Home Grant could give you a significant financial boost. This government-backed scheme helps eligible KiwiSaver members turn their savings into a deposit. But how much can you actually get? And what do you need to do to qualify? This guide walks you through everything step by step.

What is the KiwiSaver First Home Grant?

The First Home Grant is a lump sum payment from the Government that you don’t have to repay. It’s designed to help first-home buyers (or previous homeowners who have fallen back into a similar position) bridge the gap between their savings and a deposit.

The grant is available through the Kāinga Ora (Housing New Zealand) scheme. You apply through your KiwiSaver provider, but the grant itself is separate from your KiwiSaver balance.

ValueHub's Trusted Providers

We've researched the providers below — here are our picks for this category.

Simplicity
★ 4.9 ★★★★★ (592 Reviews)
ValueHub Award

Simplicity is a nonprofit KiwiSaver and investment fund manager charging 0.25% p.a. across all six KiwiSaver funds. 100% owned by the Simplicity Foundation, a registered charity. Over 190,000 members. Seven rounds of fee cuts since launch in 2016. Fifteen percent of management fees donated to NZ charities. Founded by Sam Stubbs (ex-Tower Investments CEO, Goldman Sachs).

How much can you get?

The amount depends on two main factors: how long you’ve been contributing to KiwiSaver, and the price of the home you’re buying. The maximum grant is:

  • $10,000 for an individual (if you’ve been a member for at least 5 years)
  • $20,000 for a couple (if both have been members for at least 5 years)

But there’s a catch — is calculated at $1,000 for each year you’ve been a KiwiSaver member, up to a maximum of 5 years. So if you’ve been a member for 3 years, you’d get $3,000 (individual) or $6,000 (couple).

You also need to meet the house price cap for your region. For example, in Auckland the cap is $875,000 for existing properties and $1,050,000 for new builds. In many other regions, the cap is lower — around $650,000 for existing homes and $750,000 for new builds.

Step-by-step guide to claiming your First Home Grant

Step 1: Check your eligibility

Before you get excited, make sure you meet these basic requirements:

  • You’ve been a KiwiSaver member for at least 3 years
  • You’re buying a home to live in (not an investment property)
  • You’ve contributed at least 3% of your income (or $1,042.86 a year) for each of those 3 years
  • You’re buying a property that costs less than the regional house price cap
  • You don’t already own a home (with some exceptions)

If you’ve previously owned a home but no longer do, you may still qualify — check with Kāinga Ora.

Step 2: Check the house price cap for your area

House price caps vary by region and property type. Here’s a quick overview of common caps (as of 2025):

Region Existing property cap New build cap
Auckland $875,000 $1,050,000
Wellington $750,000 $925,000
Christchurch $650,000 $750,000
Hamilton $700,000 $825,000
Dunedin $600,000 $700,000
Other regions $500,000–$650,000 $600,000–$750,000

Check the Kāinga Ora website for the exact cap in your area — it changes regularly.

Step 3: Get a pre-approval from your KiwiSaver provider

You can’t just apply for the grant directly. You need to go through your KiwiSaver provider. Most major providers — like ANZ, ASB, Westpac, Kiwi Wealth, and Simplicity — will help you with the process.

Contact your provider and ask for a First Home Grant application form. They’ll check your eligibility and send it to Kāinga Ora for approval.

Step 4: Find a property and make an offer

Once you have pre-approval, you can start house hunting. Remember, the property must be under the house price cap for your region. If you go over, you won’t get the grant.

When you make an offer, include a condition that the sale is subject to receiving the First Home Grant. This protects you if the grant doesn’t come through.

Step 5: Finalise the grant

Once your offer is accepted, your KiwiSaver provider will finalise the grant. The money is paid directly to your solicitor or conveyancer, who then uses it as part of your deposit.

You’ll need to provide proof of identity, your KiwiSaver statements, and a signed sale and purchase agreement.

Key concepts to understand

House price cap: This is the maximum price of a home you can buy with the grant. It varies by region and property type. New builds usually have a higher cap.

Contribution requirement: You must have contributed at least 3% of your gross income (or $1,042.86 per year) for each of the last 3 years. If you’ve been on parental leave or had a break, you may still qualify — check the rules.

Joint applications: If you’re buying with a partner, you can both apply. The grant is calculated separately for each person, so a couple with 5 years each gets $10,000 each — $20,000 total.

Tips for maximising your grant

  • Start early: The longer you’ve been in KiwiSaver, the more you can get. Aim for at least 5 years to hit the maximum.
  • Choose a new build: New builds often have higher house price caps, so you might be able to buy a more expensive home.
  • Keep contributing: If you’re close to the 3-year mark, make sure you’ve met the contribution threshold. Even one missed year can delay your application.
  • Check regional caps before house hunting: Don’t fall in love with a property that’s over the cap — it’s a dealbreaker.
  • Use a mortgage broker: A good broker can help you navigate the process and find the best home loan for your situation.

Pros and cons of the First Home Grant

Pros Cons
Free money — no repayment needed Only available for homes under a price cap
Can be combined with KiwiSaver withdrawal Requires at least 3 years of membership
Available for both existing and new builds Regional caps can be restrictive in expensive areas
No income limit or asset test You must live in the home — no investment properties
Quick processing (usually 2–4 weeks) Grant amount is fixed per year — no flexibility

Who is this for?

The First Home Grant is ideal for:

  • First-home buyers with at least 3 years of KiwiSaver membership
  • People buying a home in a region where house prices are below the cap
  • Those who need a deposit boost but can’t save extra quickly
  • Couples buying together — grant can be substantial

It’s less suitable if you’re buying an expensive home in Auckland or Wellington, or if you’ve only just joined KiwiSaver.

Verdict

The KiwiSaver First Home Grant is one of the best ways to get into your first home without needing a massive deposit. For most eligible buyers, it’s a straightforward process that can add thousands of dollars to your deposit. Just make sure you understand the house price caps in your area and plan your timeline accordingly.

If you’re close to the 5-year mark, it’s worth waiting a bit longer to get the full $10,000 or $20,000. But if you’re ready to buy now, even a smaller grant can make a real difference.