NZ First Home Calculator
Calculate your KiwiSaver withdrawal, First Home Grant eligibility, and Kainga Ora First Home Loan qualification. Covers all three NZ first home buyer assistance programs with regional price caps. All figures in NZD.
KiwiSaver is NZ's workplace retirement scheme. You can withdraw most of your balance to buy your first home.
| Rule | Detail |
|---|---|
| Minimum membership | 3 years as a KiwiSaver member |
| Amount you can withdraw | Your full balance minus $1,000 minimum (which stays in your account) |
| First home requirement | Must be buying your first home, or be in a "no better financial position" than a first home buyer |
| Income test | No income test for KiwiSaver withdrawal itself — only for the First Home Grant |
| Property type | Must be residential property in New Zealand |
| Application | Apply through your KiwiSaver provider at least 10 working days before settlement |
Stacking all NZ first home programs together gives you the maximum buying power.
| Component | Amount | Status |
|---|---|---|
| KiwiSaver Withdrawal (all applicants) | NZ$29,000 | Eligible |
| First Home Grant (all applicants) | NZ$0 | Check income/price caps |
| Other Savings | NZ$20,000 | Your own savings |
| Total Deposit | NZ$49,000 | 8.2% of property price |
How to Use This NZ First Home Calculator
Enter your KiwiSaver balance, years of KiwiSaver membership, gross household income, and target property price. The calculator shows your eligible KiwiSaver withdrawal, First Home Grant entitlement, whether you qualify for the Kainga Ora First Home Loan, and your total available deposit.
The Three NZ First Home Buyer Programs
- KiwiSaver First Home Withdrawal: withdraw your entire balance minus $1,000 after 3+ years of membership
- First Home Grant: government cash grant of $1,000–$2,000 per year of membership (up to 5 years)
- Kainga Ora First Home Loan: buy with only 5% deposit through participating banks
All three programs can be used simultaneously for maximum buying power. Income and property price caps apply to the grant and First Home Loan — check regional price caps as they vary significantly between regions.
The Formula
(Minimum 3 years membership required)
First Home Grant (existing home):
= Years of Membership × $1,000 (max 5 years = $5,000 per person)
First Home Grant (new build):
= Years of Membership × $2,000 (max 5 years = $10,000 per person)
Total Deposit = KiwiSaver Withdrawal + First Home Grant
Income Caps: $95,000 single / $150,000 couple (gross)
For couples, both partners can claim the grant and withdraw their KiwiSaver balances separately, potentially doubling the grant and combining two balances. Regional property price caps also limit the grant and First Home Loan — check Kainga Ora's current caps for your region.
Example
Liam and Aroha Buying Their First Home in Wellington
Liam (5 years KiwiSaver, $38,000 balance) and Aroha (4 years KiwiSaver, $28,000 balance) are buying a new build for $720,000. Combined income is $130,000.
| Purchase Price (new build) | $720,000 |
| Liam's KiwiSaver Withdrawal | $37,000 |
| Aroha's KiwiSaver Withdrawal | $27,000 |
| Liam's First Home Grant (5yr × $2,000) | $10,000 |
| Aroha's First Home Grant (4yr × $2,000) | $8,000 |
| Total Deposit Available | $82,000 (11.4%) |
| Income Cap Met? | Yes ($130,000 under $150,000) |
| First Home Loan Eligible? | Yes (over 5% with grant) |
| Mortgage Required | $638,000 |