First Home Grant
A government grant of $3,000-$10,000 per person for first home buyers who've been contributing to KiwiSaver for 3-5+ years and meet income caps ($95K individual / $150K combined).
The First Home Grant is a government payment to help first home buyers in New Zealand. If you've been contributing to KiwiSaver for 3-5 years, you can receive $1,000 per year of contribution (up to 5 years), giving you $3,000-$5,000. For a new build, the amounts are doubled: $2,000 per year, up to $10,000.
Both partners in a couple can apply separately, so a couple could receive up to $10,000 for an existing home or $20,000 for a new build.
To qualify, your income must be under $95,000 (individual) or $150,000 (combined for a couple). There are also house price caps that vary by region.
Why this matters
The First Home Grant is essentially free money from the government — but only if you meet the criteria. The income caps and contribution period requirements mean you need to plan ahead. If you're even thinking about buying a home in the next few years, make sure you're contributing to KiwiSaver now so the clock is ticking.
Learn more
Read our guideRelated KiwiSaver terms
KiwiSaver
New Zealand's voluntary retirement savings scheme. You contribute a percentage of your salary (3%, 4%, 6%, 8%, or 10%), your employer matches at least 3%, and the government contributes up to $521/year. Money is locked until age 65 (with exceptions for first home and hardship).
KiwiSaver First Home Withdrawal
After 3+ years of contributing, you can withdraw most of your KiwiSaver balance to buy your first home. You must leave $1,000 in the account.
PIE Tax
Portfolio Investment Entity tax. The tax rate on your KiwiSaver and managed fund returns. Your rate depends on your income: 10.5% (under $14K), 17.5% ($14-48K), or 28% (over $48K). Set it correctly to avoid overpaying.
Conservative Fund
A KiwiSaver or managed fund that invests mostly in bonds and cash. Lower risk, lower returns. Suitable if you're close to retirement or plan to withdraw soon.
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