How Do I Buy My First Home in NZ?
In short: get financially ready and pre-approved, search for a property within your budget, do your due diligence (LIM, building report, finance), make an offer, go unconditional, then settle. The whole process typically takes 3–6 months from pre-approval to settlement. See our Complete First Home Buyer's Guide for the full walkthrough.
How Much Deposit Do I Need?
Standard lending requires 20%. First home buyers can qualify for as little as 5% through the Kāinga Ora First Home Loan, subject to income caps (around $95,000 for a single buyer, $150,000 combined for two or more, as at 2026) and regional price settings.
Can I Use KiwiSaver to Buy My First Home?
Yes. If you've been a KiwiSaver member for at least 3 years, don't already own property, and intend to live in the home, you can withdraw most of your balance (keeping a minimum $1,000) towards your deposit. Apply 4–6 weeks before settlement so funds arrive in time.
Is the First Home Grant Still Available?
No — it was discontinued on 22 May 2024 and hasn't been reinstated. The KiwiSaver withdrawal and First Home Loan remain the two active forms of government support for first home buyers.
Do I Need a Lawyer to Buy My First Home?
Yes. A property lawyer or conveyancer reviews your sale and purchase agreement, runs title and LIM checks, liaises with your bank, and manages settlement. It's strongly recommended — and in practice essential — for every residential purchase in NZ.
Most first home buyer questions come down to timing: get pre-approved, line up your lawyer, and apply for your KiwiSaver withdrawal early — well before you need any of it.
Quick Answers
- How long does it take?: 3–6 months from pre-approval to settlement, typically.
- How much deposit?: 20% standard, or as little as 5% via the First Home Loan.
- Can I use KiwiSaver?: Yes, after 3+ years of membership, if it's your first home.
- Do I need a lawyer?: Yes — for the sale and purchase agreement, title checks and settlement.