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The kicker you need to get your first home – Welcome to the First Home Grant

October 17, 2023

Would you like a $10,000 boost to help you buy your home? No this isn’t a scam, it’s the First Home Grant by Kainga Ora. If you have been contributing to Kiwisaver, you could be eligible.


The First Home Grant is a great little offering by Kāinga Ora, aimed at helping eligible first home buyers (and in some circumstances previous homeowners) in their journey towards home ownership. You could be eligible for up to $10,000 to assist in purchasing your first home. The money is a grant and is not required to be repaid unless you move out of the home within 6 months of owning it. And if you are buying the property with someone else, or even multiple other people, they could all be eligible for the grant as well!


Provided you are eligible, the total grant that you can get depends on 2 main things:

  1. How long you have been contributing to Kiwisaver
  2. The type of property you are buying

You need to have been regularly contributing to Kiwisaver for at least 3 years. These 3 years don’t need to be the last 3 years, or even 3 years in a row. You just need to have contributed for at least 3 years in total.

If you are buying an existing property you can get $1,000 per year that you have been contributing, up to a maximum of $5,000.

If you are buying a new build you can get $2,000 per year that you have been contributing, up to a maximum of $10,000.

What if you are buying the house with someone else? Your partner, a friend, a family member? If this is the case, and you are both eligible, you could each get this grant. So you could get up to $20,000 towards your home. If there are 3 of you, then you could possibly get $30,000!


  1. Whether you have just started saving for your first home, or have been on this journey for some time, the First Home Grant is a huge boost to your deposit and can open some amazing opportunities. 
  2. A number of banks offer mortgages to first home buyers with as little as a 5% deposit. The grant could be what gets you to this milestone deposit amount and into your first home. 
  3. Similarly, banks tend to offer better rates if you have a deposit of 20%. The grant could push you into this threshold and reduce the amount of interest you pay on your mortgage.
  4. The grant is available for a range of different property dreams. Whether you’re hunting for an existing home, looking at new builds, or have found your dream section, the grant has the ability to support your property aspirations.
  5. It’s a helping hand to all Kiwis with their home ownership aspirations.


This beaut of a property is currently available for sale: 114 Amanda Ave, Dinsdale, Hamilton

It is a brand new home with an asking price of $689,000. 

Here is what your deposit on this place could look like if you are eligible for the grant and have been contributing to Kiwisaver for 5 years:

If you are buying this property on your own:

Deposit % 5% 10% 20%
Deposit $ 34,450 68,900 137,800
First Home Grant 10,000 10,000 10,000
Cash/Savings/Kiwisaver Needed 24,450 58,900 127,800

If you are buying this property with a partner, family member or friend:

Deposit % 5% 10% 20%
Deposit $ 34,450 68,900 137,800
First Home Grant 20,000 20,000 20,000
Cash/Savings/Kiwisaver Needed 14,450 48,900 117,800


Plenty of people have information on this and a good mortgage broker would be a great place to start. If you need a recommendation on one, let me know.

Otherwise check out this page on the Kainga Ora website, or give them a call on 0508 935 266

Ready to unlock the door to your first home? At Kingston Group, we’re dedicated to guiding first-time buyers and downsizers towards homes that compliment their lifestyles. If that sounds like you or someone you know, don’t hesitate to reach out. I’d love to show you our range of available homes.