Matamata first home buyers
Using your KiwiSaver to buy your first home in Matamata
If you're saving for your first place in Matamata, your KiwiSaver can be a big part of your deposit. Summit Wealth is based at 41B Arawa Street, Matamata, and this page walks through how the first-home withdrawal works, where the government contribution fits in and what's worth sorting before you start looking.
Can I use my KiwiSaver to buy my first home?
Many people can, as long as they meet the conditions below. Here's the short version of how the first-home withdrawal works.
- 3 years in KiwiSaver: you need to have been a member for at least three years before you can withdraw for a first home. You can only make a first-home withdrawal once.
- Leave $1,000 in: you can take out your own contributions, your employer's, the government contribution and any returns, but at least $1,000 has to stay in your account. Money moved over from an Australian super scheme can't be withdrawn.
- A home you'll live in: you need to intend to live in the property (this can include land in New Zealand you plan to build your home on), so it can't be used for a rental or investment property.
- Owned before? You can't currently own a home, land or a share in a property (Māori land aside). If you've owned one before, you may still qualify if Kāinga Ora decides you're in the same financial position as a first home buyer.
You apply through your KiwiSaver provider, and if it's approved the money is paid to your lawyer or conveyancer on or before settlement day. Providers each have their own forms and processing times, so it's worth asking yours early.
How does the government contribution help?
- 25 cents for every $1: each year from 1 July to 30 June, the government adds 25 cents for every dollar you put in, up to $260.72 a year.
- $1,042.86 of your own money: that's what you need to contribute in the year to get the full amount. Employer contributions don't count towards it.
- Who can get it: members from age 16 until they turn 65 who are contributing, mainly live in New Zealand and have a taxable income of $180,000 or less.
Because the government contribution can be withdrawn for a first home too, a few years of getting the full amount can add a useful bit to your deposit. There's more on how the government contribution works.
How do I get my KiwiSaver ready to buy?
A bit of tidying up a year or so out can make the buying part a lot smoother. These are the things people usually check.
- Who you're with and your fund type: if you're planning to buy in the next few years your timeframe is shorter, which can change what you want from a fund.
- Your contribution rate: the default rate for employees and employers went up to 3.5% from 1 April 2026 and is due to rise to 4% from 1 April 2028. You can apply for a temporary reduction to 3%, and some people choose a higher rate while they're saving for a deposit.
- Your three-year date: check when you joined, so you know when you'll be able to make a withdrawal.
- Your provider's process: ask what paperwork they need and how long they take, so the withdrawal lines up with your settlement date.
For more on picking a fund type, see growth, balanced or conservative funds or our KiwiSaver advice page.
What about the mortgage side?
Summit Wealth gives KiwiSaver advice only, so we don't arrange home loans or give mortgage advice. For the mortgage side, Summit Mortgages passes your enquiry to a mortgage broker or lender, who can talk you through your options.
Pre-approval is worth thinking about early, and there are two separate timings to keep in mind.
- Getting pre-approval: it takes about 5 to 10 working days as a guide.
- Once you have it: pre-approval is usually valid for 90 days, but it pays to check with your lender.
Summit Mortgages is operated by Summit Wealth Limited. It passes your enquiry to one mortgage broker or lender, doesn't give advice, and may receive a commission if you go ahead. Whether you use it is up to you.
Quick questions
How long do I need to be in KiwiSaver before I can use it for a first home?
At least three years. You also need to leave at least $1,000 in your account after the withdrawal.
Can I use my KiwiSaver to buy a rental property?
No. The first-home withdrawal is only for a home you intend to live in yourself.
Does Summit Wealth arrange mortgages?
No. Summit Wealth gives KiwiSaver advice only. Summit Mortgages passes your enquiry to a mortgage broker or lender for the home loan side.
Talk it through with Kyle
If you'd like to look at your own KiwiSaver before you buy, start with the 60-second Health Check or book a 30-minute chat with Kyle. There's no obligation, and you decide what happens next.
KiwiSaver figures checked against Inland Revenue and Kāinga Ora on 20 October 2026. Rules can change, so check with Inland Revenue or your provider before you rely on them.
General information only, not personalised financial advice or mortgage advice. It doesn't take your personal circumstances into account. Summit Wealth Limited is a licensed Financial Advice Provider (FSP768791) and its advice covers KiwiSaver schemes only. Read our disclosure.