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Are You Eligible for The First Home Buyers Grant?

Posted 49 days ago | By Latitude Homes

buying a new home

First home buyers face a range of hurdles on the journey to owning a property, from saving and budgeting to navigating the different concepts and policies they might benefit from like KiwiSaver and the First Home Buyers Grant.

The team at Latitude Homes has put together this guide on the First Home Buyers Grant NZ residents can use to clarify when and how to use the scheme.

Am I Eligible for the First Home Buyers Grant?

You may be able to apply for a First Home Buyers Grant if you, or anyone you may be buying a home with:

●  Are aged 18 years or over

●  Have been contributing the required minimum to KiwiSaver (or complying fund or exempt employer scheme) for at least 3 years

●  Have a household income below the income caps in the last 12 months:

     ○  $95,000 or less before tax for a single buyer

     ○  $150,000 or less before tax for 2 or more buyers

●  Are buying an acceptable type of property or land arrangement

●  Have not already received the First Home Buyers Grant or predecessors such as the KiwiSaver HomeStart Grant or KiwiSaver first-home deposit subsidy

●  Are buying a property with a purchase price within the designated price cap for the region

●  Not currently own any property, this does not include ownership of Māori land

●  Have a deposit that is at least 10% of the purchase price, including the addition of the grant, KiwiSaver withdrawal amount, savings or family gifts supported by a gifting declaration.

You can apply online on the Kāinga Ora website where you will be required to provide evidence confirming your eligibility.

New Builds vs Existing Properties

The First Home Buyers Grant can be used to help purchase new builds or existing properties up to the value of the price caps in your region. Grant values vary according to whether you’re:

  Purchasing an existing home (maximum $5,000 per eligible member), or

  Purchasing a new home (maximum $10,000 per eligible member)

New builds include:

  Newly built dwellings that received a building code compliance certificate less than 12 months before the date you apply for the First Home Grant

  Vacant sections that will be built on

  House and land packages or apartments purchased off the plans

Existing properties are any houses that were built and certified more than 12 months ago.

contract resized

House Price Caps for the First Home Buyers Grant

The maximum purchase price the grant can contribute towards differs depending on whether you’re buying an existing property or a new build. Below are the latest First Home Grant capped rates announced in the May 2022 budget.

  Auckland - $875k existing house, $875k new builds

  Queenstown - $875k existing house, $925k new builds

  Wellington - $750k existing house, $925k new builds

  Christchurch - $550k existing house, $750k new builds

  Hamilton - $650k existing house, $725k new builds

  Rest of NZ - Ranges from $400k - $875 existing house, $500k - 925k new builds

What to Consider if Buying Existing Property

All properties that received a building code compliance certificate more than 12 months before you apply for a First Home Buyers Grant are considered existing properties. The property must be within the maximum house price caps for existing properties, be habitable and be your primary place of residence for at least 6 months from the settlement date.

What to Consider if Buying Land to Build On

You must have pre-approval for the First Home Buyers Grant before you purchase land to build on. The land must be ready to build on. If it's not, the cost to prepare the land for building must be taken into consideration.

  Submit your application at least 4 weeks before the settlement of the land

  Have plans to build or relocate a home immediately after grant pre-approval

  Have a signed sale and purchase agreement for the land

  Provide a signed, fixed-price building contract that shows the cost of construction and estimated start and finish dates

  Provide copies of all relevant associated documents such as house plans and property specifications

  Have enough money to complete the construction of the property within the relevant house price cap.

  If you don't have a fixed-price building contract because you are doing a self-build or partial build, you will need to provide a quantity surveyor's report showing the total build cost.

The finished property must be a permanent dwelling and be your primary place of residence for at least 6 months from the date the code compliance certificate is issued. The total combined costs for the land purchase and the house construction must be within the relevant house price caps.

New Builds at Latitude Homes

Looking to build new using the First Home Buyers Grant? NZ residents should get in touch with Latitude Homes for a range of great house and land packages available across New Zealand. Explore our house floor plans today or get in touch with our team if you have any questions.




We couldn't speak more highly of Haimona Matthews and his team at Latitude Homes Northland. Our home was built extremely well with good quality fittings and workmanship, with the added bonus of no holdups along the way. It was finished when they said it would be finished. The whole experience was stress less. Haimona was very approachable and kept us informed of how things were going as the build progressed and gave good advice when needed.

We would definitely recommend others using Latitude Northland and have been 'singing their praises' whenever we can.
Paul and Pat McKinney