It’s no secret that in the current climate it is not easy for first homebuyers to get into the property market.  Unless you have been able to save up that large deposit first homebuyers are likely going to need assistance with any potential property purchase.  First homebuyers are often turning to their parents for help with a deposit or to guarantee a mortgage, but there is assistance on offer from the government.

HomeStart Grant

If you’re a member of a Kiwisaver scheme and have been making regular payments for more than 3 years may be eligible for a HomeStart Grant through Housing New Zealand. 

If you buy an existing home for can get $1,000 for each year that you have paid into Kiwisaver to a total of $5,000 for 5 years of contributions.  If your plan is to build and you buy land you may be able to get $2,000.00 for each year of contributions to a total of $10,000 for 5 years of contributions.  If you’re a couple or are buying a property with someone else you can both/all apply for a HomeStart Grant but the most you’ll receive is $10,000 for an existing home and $20,000 for a new build or purchase of land. 

If you need more information head to this website:

Kiwisaver First Home Withdrawal

Again, if you have been a member of Kiwisaver for more than 3 years you may be eligible to withdraw your kiwisaver funds to use towards purchase of your new home.  You must leave a balance of at least $1,000 in your account.  You must live in the home, it cannot be used for purchase of an investments property.  Previous homeowners may also be eligible to withdrawal their Kiwisaver funds.  To find out more about elgilibility head here:

Welcome Home Loans

A number of banks offer a Welcome Home Loan.  This type of loan only requires a deposit of 10% and is underwritten by Housing New Zealand, making it easier for lenders/banks to offer loans outside of their normal lending criteria.  As well as your bank’s eligibility criteria the government also requires that the price of the home be under a regional cap and an income cap also applies.


In some areas of New Zealand the government have contracted new builds or their Kiwibuild program.  These homes are only available to first homebuyers or “second chancers” and you have to meet all eligibility requirements to be able to enter the ballot for the homes.  You can find our more information here:

It is always good to have yourself organised so that when you find that dream home you have everything in place and the process can run smoothly.  A solicitor, legal executive or conveyancing professional can provide further information regarding the above processes and help with applications to provide a stress-free settlement.