After 3 years of contributing to KiwiSaver, you may be entitled to a HomeStart grant. This subsidy is administered by Housing New Zealand.
What the HomeStart Grant worth
- $1,000 for each year you've been contributing to KiwiSaver, up to a maximum of $5,000 per perso, for the purchase of an existing home.
- $2,000 for each year you’ve been contributing KiwiSaver, up to a maximum of $10,000 per person, for the purchase of a newly built home, a property being built off the plans, or land to build a new home on.
If you're a couple buying a home together and you both qualify for a subsidy, you could receive a combined subsidy of up to twice the above maximums.
Getting a HomeStart grant from Housing NZ
To be eligible for the /HomeStart grant, you must:
- have contributed at least the minimum regular contribution from your income to a KiwiSaver scheme, or a complying superannuation scheme, for at least 3 years;
- be buying your first home;
- be planning to live in the home for at least 6 months.
Income and house price caps apply.