First Home Buyer Schemes NZ 2025 | Bennett Homes
                     Government Schemes 
for First Home Buyers 
in New Zealand
Buying your first home in New Zealand has never been easy, but 
government-backed schemes and financial supports are designed 
to help first-home buyers get started. While the popular First Home 
Grant ended in May 2024, other pathways remain available in 
2025.
KiwiSaver First-Home Withdrawal
Eligibility Withdrawal Amount
Must have been contributing for at least 3 years Most of your savings, including your contributions, 
employer contributions, and returns—but must 
leave $1,000 in the account
Usage Requirement
Can be used towards deposit or settlement of a The home must be your main residence (not an 
first home (new build or existing) investment property)
At Bennett Homes, many clients pair a KiwiSaver withdrawal with a First Home Loan to meet their deposit requirements.
First Home Loan
5% $95K $150K
Minimum Income Limit Income Limit 
Deposit (Individual) (Combined)
Compared to standard Before tax, for For couples or 
20% deposit individuals without individuals with 
requirements dependants dependants
0.5%
Low-Deposit 
Premium
Until June 30, 2025 
(rising to 1.2% from 
July 1, 2025)
Kāinga Whenua Loan
For Māori wanting to build, buy, or relocate a home on Māori land, the Kāinga 
Whenua Loan provides dedicated support.
• Available to Māori individuals, whānau, or trusts with rights to multiply-
owned Māori land
Loan amount up to $500,000
• 15% deposit required on any borrowing above $200,000
• Loan secured against the house only (not the land)
This scheme supports Māori communities to create intergenerational housing 
solutions on whenua that might otherwise be hard to finance.
Progressive Home Ownership (PHO)
The Progressive Home Ownership Fund, launched in 2020, remains an option for households who can afford 
mortgage repayments but struggle to save a deposit.
Shared Ownership Rent-to-Buy Leasehold-to-Buy
Co-own with a provider who sells Portion of rent goes toward Lease the land while owning the 
their share to you over time eventual home purchase home, with option to purchase 
land later
Typical eligibility: Household income under ~$130,000 and commitment to live in the home long term.
What Happened to the First Home Grant?
Until 2024, the First Home Grant was one of the most 
popular tools for first-home buyers, providing: Alternative Options
Up to $5,000 for an existing home While the First Home Grant is no longer 
Up to $10,000 for a new build available, buyers can still leverage KiwiSaver, 
First Home Loans, and Progressive Home 
However, the government closed the First Home Ownership as practical alternatives.
Grant in May 2024. Only pre-approved applicants 
before June 2024 were able to complete their 
purchases.
How These Schemes 
Can Work Together
Step 1: KiwiSaver First-Home Withdrawal
Use your KiwiSaver savings for your deposit
Step 2: First Home Loan
Apply to reduce deposit requirements to 5%
Step 3: Progressive Home Ownership
If eligible, explore PHO with a provider in your area
This combination has already helped many Kiwis step into their first 
home—even in a competitive housing market.
Why New Builds & 
House-and-Land Packages Are a Smart 
Choice
Energy Efficiency Lower Maintenance
Energy-efficient designs that save money long term Lower maintenance costs than older homes
Tailored Layouts Lending Friendly
Customized designs to suit your lifestyle Potential to fit within lending requirements more easily
At Bennett Homes, we design affordable, high-quality new builds across New Zealand that pair perfectly with these 
financial schemes.
Tips for First-Home Buyers
1 Check eligibility early
Apply for pre-approval with lenders and KiwiSaver providers
2 Budget wisely
Factor in moving costs, legal fees, and insurance premiums
3 Explore all options
Don't just rely on one scheme; combine them if possible
4 Choose trusted builders
Partner with a new home builder NZ who understands government 
schemes
5 Think long-term
Choose a home design that suits your lifestyle for years
Your First Home Is Still 
Within Reach
KiwiSaver Withdrawal First Home Loan
Access your retirement Buy with just 5% deposit 
savings for your first home instead of the standard 20%
deposit
Progressive Home Ownership
Step into ownership gradually through innovative pathways
At Bennett Homes, we're the most trusted new home builder in 
New Zealand to make that journey easier with affordable house and 
land packages designed for first-home buyers.