KiwiSaver really is worth belonging to, and here’s another reason why. The new government initiative for first home buyers, the KiwiSaver HomeStart grant, came into effect from 1st April 2015. It replaces the KiwiSaver First Home subsidy.
Here’s how it works: If you’re buying an existing/older home, you may be eligible to receive up to $5,000 for individuals and up to $10,000 for couples to put towards the purchase. If you’re either building or purchasing a new home the numbers are up to $10,000 for an individual or up to $20,000 for couples.
You do have to have been contributing for three years, be 18 years or older, and meet income and other eligibility criteria.