Applying for the KiwiSaver HomeStart grant as a previous home owner

Published: 1 August 2016

A builder with a couple looking at building plans

If you are a previous home owner but are deemed to be in a similar financial position to a first-home buyer, you may still be eligible for the HomeStart grant. Housing New Zealand will determine this.


You will first need to meet the general criteria for the HomeStart grant. If you do qualify, then run through the checklist below – this only applies to previous home owners.

  • I have not received the HomeStart grant or the previous KiwiSaver first-home deposit subsidy before.

  • I do not have realisable assets totalling more than 20 percent of the house price cap for existing/older properties in the area I am buying in. Realisable assets are belongings that you can sell to help buy a home.


The realisable asset caps for each region are:

  • Auckland – $120,000

  • Hamilton City, Tauranga City, Western Bay of Plenty District, Kapiti Coast District, Porirua City, Upper Hutt City, Hutt City, Wellington City, Nelson City, Tasman District, Waimakariri District, Christchurch City, Selwyn District, Queenstown Lakes District – $100,000

  • Rest of New Zealand – $80,000.


Housing New Zealand considers the following to be realisable assets:

  • money in bank accounts (including fixed and term deposits)

  • shares, stocks and bonds

  • investments in banks or financial institutions

  • building society shares

  • any money paid to, or held by, the real estate agent or solicitor as a deposit on a home

  • boat or caravan (if the value is over $5,000)

  • other vehicles (such as classic motorbikes or cars – not being used as your usual method of transport)

  • other individual assets valued over $5,000


How do I apply?

Applying as a previous home owner is the same as for first-home buyers. There is just an extra section on the application form to complete with details of any realisable assets you may have. Click here to go to the application process.


If you also want to apply for a KiwiSaver First-home withdrawal determination, you will need to complete a separate application form for this.


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