The government HomeStart grant

What is it and who is eligible?

As a first home buyer, you want to get all the help you can to maximise your borrowing potential. If you’ve been contributing to a Kiwisaver for at least three years, you may be eligible for this government grant.

The HomeStart grant assists first home buyers by providing them with a sum of up to $5,000.00 for individuals and up to $10,000.00 for couples to put towards a deposit for an existing house.

As part of this incentive, singles and couples who are purchasing or building a brand new home could also receive assistance of up to $10,000 (single) or $20,000.00 (couples), providing they are eligible.

If you’re buying new property, however, it’s important to understand what is considered new. Whether you’re buying off the plan or purchasing an existing home, your mortgage adviser can talk you through the different definitions of ‘new’ and how the grant can work for you.

The grant has several restrictions, one major one being property value, where the thresholds vary by region. Consideration is given to other factors such as your income to determine whether or not you qualify for this government initiative.


If you’d like to find out more, please register for one of our first home buyers seminars or download our first home buyers guide here.

Can't wait? Speak to an expert mortgage adviser today.