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KiwiSaver changes: good news for first home buyers

Thursday, April 02, 2015   Posted in: Resources and Information By: Administrator With tags: housing, funding

KiwiSaver logo image green on white background.A series of changes are set to kick in for first home buyers from 1st April 2015 with the introduction of Kiwisaver HomeStart.  The new first home buyer packages have been designed to help people achieve the dream of buying their own home.  There will be three main changes coming into effect that I have outlined below.

An increased grant for newly built homes

The Kiwisaver First Home Deposit Subsidy will be replaced with a Kiwisaver HomeStart Grant which doubles the contributions for buying newly built homes.

Like the current subsidy, Kiwisaver HomeStart will continue to provide eligible first home buyers with a grant of up to $5,000.00 for individuals and up to $10,000.00 for couples to put towards a deposit for an existing home.

In addition, the new KiwiSaver HomeStart Grant will provide eligible first home buyers with a grant of up to $10,000.00 for individuals and up to $20,000.00 for couples to help with the costs of building or purchasing a brand new home.

A new home can include:

  • A vacant residential section on which a new home will be built
  • A house and land package purchased off the plans
  • A new apartment purchased off the plans
  • A newly built property, that has received its building code compliance certificate less than six months before the date of the buyers application.

Find out more about how KiwiSaver can helping you into home ownership (Housing NZ).

Healthy Christchurch Champions

  • Canterbury District Health Board
  • Christchurch City Council
  • Environment Canterbury
  • Ministry of Health
  • Ngai Tahu
  • NZ Police
  • Pegasus Health
  • University of Otago, Christchurch