Government Grants for First-Home Buyers in NZ
Imagine finally holding the keys to your own home in New Zealand – that backyard barbecue with mates, the kids' laughter echoing through the halls, and no more rental hikes dictating your budget. For...
Imagine finally holding the keys to your own home in New Zealand – that backyard barbecue with mates, the kids' laughter echoing through the halls, and no more rental hikes dictating your budget. For many Kiwis, the dream feels out of reach amid rising prices, but first home grants NZ from the government can make it real. While the popular First Home Grant scheme wound down in 2024, other supports like KiwiSaver withdrawals and tenant grants are still here to help you cross the threshold in 2026.
What Are First Home Grants in New Zealand?
Government assistance for first home buyers NZ has evolved, but the core idea remains: easing the deposit burden so you can own sooner. The First Home Grant, once administered by Kāinga Ora, offered cash payments based on your KiwiSaver contributions – up to $5,000 for existing homes or $10,000 for new builds per person.[1][2][3] Sadly, it closed to new applications on 22 May 2024, with existing claims processed into late 2024.[2]
Don't lose hope though. In 2026, you'll still tap into KiwiSaver first home withdrawals, low-deposit loans, and targeted grants. With interest rates stabilising and more listings on the market, experts call this a 'Goldilocks year' for buyers – just right for getting in.[8] Let's break down what's available now and how to make it work for you.
Current Government Support for First-Home Buyers
Beyond the discontinued First Home Grant, Kāinga Ora and other schemes provide practical help tailored to Kiwi needs. Here's the lineup for 2026:
- KiwiSaver First Home Withdrawal: Pull out your contributions (and employer/government bits) for a deposit, no repayment required if you stay in the home for six months. Combine with a First Home Loan for as low as 5% deposit.[4][6]
- Tenant Home Ownership Grant: If you're renting from Kāinga Ora, snag a grant worth 10% of the purchase price (up to $20,000) to buy your current home. Ideal for long-term tenants wanting stability.[5][6]
- Kāinga Ora First Home Loans and Partners: Shared-equity options where the Crown covers part of your deposit, reducing what banks lend. Great for those short on savings.[5]
- Regional Price Caps: Many schemes cap property values by area – check Auckland limits versus provincial spots for better affordability.[1][4]
These options shine in 2026's market, where banks are lending more freely and stock is plentiful.[8]
KiwiSaver: Your Biggest Ally
Most first-home buyers lean on KiwiSaver heavily. You've been socking away 3%+ of your income for years – now withdraw it all for the deposit. For example, a couple with $50,000 each in KiwiSaver could access $100,000 combined, plus any grants or gifts.[1][4] Pro tip: Boost contributions now to maximise your pot before buying.
Eligibility Criteria: Who Qualifies?
Even without the First Home Grant, rules for KiwiSaver withdrawals and Kāinga Ora products are straightforward. You're likely eligible if:
- You're over 18 and a New Zealand citizen or resident.
- You've never owned a home or land in NZ or abroad.
- Your household income is under $95,000 (single) or $150,000 (couples/sole with dependents).[1][2][4]
- You plan to live in the home for at least six months – no investors.[4]
- Property value fits regional caps (e.g., Auckland under $1.25m in past guidelines; verify current via Kāinga Ora).[1]
- Minimum 5-10% deposit, blending savings, KiwiSaver, and gifts.[1][2]
Exempt employer schemes or prior grants might disqualify you, so check your history.[1] Use Kāinga Ora's online eligibility tool for a quick scan.
Income and Contribution Rules
Income caps ensure help goes to those who need it: $95k solo, $150k joint (pre-tax, last 12 months).[2][4] KiwiSaver needs three years of regular contributions at 3%+ of income.[1][3] If you've paused, catch up voluntarily to qualify faster.
How Much Help Can You Get?
While the cash grant is gone, the financial boost is similar through withdrawals and loans. Here's a quick comparison based on past grant levels – now via KiwiSaver:
| Scenario | Existing Home | New Build |
|---|---|---|
| Single, 3 years KiwiSaver | Up to $30k+ withdrawal equiv. to old $3k grant[2] | Up to $60k+ equiv. to old $6k[2] |
| Couple, 5 years | $100k+ combined equiv. to old $10k grant[1] | $200k+ equiv. to old $20k[1][7] |
Numbers vary by your balance, but new builds often unlock double incentives to boost housing supply.[1][3] Tenant grants add a flat $20k max.[6]
Step-by-Step: How to Apply
Getting support is simpler than ever. Follow these actionable steps:
- Check Eligibility: Use Kāinga Ora's site or govt.nz first home hub.[5][6]
- Gather Docs: Income proof, KiwiSaver statements, ID, and pre-approval.
- Contact Provider: For tenants, email [email protected].[5] KiwiSaver via your scheme provider.
- Find a Property: Stick to price caps; use realestate.co.nz filters for first-home gems.
- Get Pre-Approved: Chat with a mortgage adviser – they'll bundle KiwiSaver, grants, and low-deposit loans.
- Apply & Settle: Submit via Kāinga Ora portal; funds release at settlement.
Start early – processing takes 4-6 weeks. In 2026, with more homes available, timing is on your side.[8]
Practical Tips for Success
- Save aggressively: Aim for 10% deposit to avoid LVR restrictions.
- Buy regional: Lower caps in Waikato or Bay of Plenty mean easier entry.[1]
- Joint buy: Couples double firepower on withdrawals and caps.
- Avoid pitfalls: Don't own overseas property; declare all income accurately.
- Seek advice: Free sessions from Sorted.org.nz or mortgage brokers.
FAQ: Common Questions on First Home Grants NZ
Q: Is the First Home Grant still available in 2026?
A: No, it closed in May 2024, but KiwiSaver withdrawals and tenant grants fill the gap.[2][6]
Q: Can I use KiwiSaver for any home?
A: Yes, for your first home, provided you live there six months and meet price caps.[4]
Q: What's the income limit for couples?
A: Combined $150,000 or less pre-tax over 12 months.[2][4]
Q: Do gifts count towards deposit?
A: Absolutely – blend with KiwiSaver for the full 10%.[1]
Q: Are new builds better value?
A: Often yes, with higher past incentives and supply focus.[1][3]
Q: How do I check regional price caps?
A: Visit Kāinga Ora's site for current 2026 limits by area.[5]
Next Steps to Your First Home
You're closer than you think. Bookmark Kāinga Ora and govt.nz, crunch your KiwiSaver balance today, and book a free mortgage chat. In 2026's buyer-friendly market, act now – secure your slice of Kiwi paradise before rates shift. You've got this!
Sources & References
- Navigating the First Time Home Buyer Grant NZ - Tag Team — thetagteam.co.nz
- First Home Grant Guide - MoneyHub NZ — moneyhub.co.nz
- How NZ government can help you buy your first home — summithomes.co.nz
- Using KiwiSaver and Government assistance to buy your first home — tonymouncemortgages.co.nz
- Search first home grant - Kainga Ora — kaingaora.govt.nz
- Financial help for first-home buyers | New Zealand Government — govt.nz
- First Home Grant - Ministry of Housing and Urban Development [PDF] — hud.govt.nz
- Why 2026 is a 'Goldilocks year' for first-home buyers | RNZ News — rnz.co.nz
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