Nau mai, haere mai. On 1 October, Housing New Zealand joined HLC and KiwiBuild to form Kāinga Ora – Homes and Communities.

Information on this site is still current. For more information about Kāinga Ora visit the Kāinga Ora website.

Case studies

Published: 1 August 2016

Case studies on how people used our financial products to buy a home.

Example 1 - Craig and Tracey 

<pCraig and Tracey bought a house with KiwiSaver

How Craig and Tracey bought a house with First Home Grant and KiwiSaver first-home withdrawal. 


Craig and Tracey have bought a new home off the plan in the Wellington suburb of Timberlea.

The house will be built in the next 6 months and will cost them $510,000. In the last year Craig earned $85,000 and Tracey, who works part-time, earned $35,000.

They have a $50,000 deposit saved, but this alone is insufficient to secure a loan to buy their home.

Craig joined KiwiSaver in March 2008 and has regularly contributed the minimum percentage of his income to his KiwiSaver account. Tracey has been contributing to KiwiSaver for 3 years.

Generally a mortgage lender would need clients to provide a deposit that totalled 20% of the purchase price. In this case, this would be $102,000.

Craig and Tracey have a First Home Grant pre-approval for $16,000 and have $36,000 KiwiSaver contributions they can withdraw to help with the purchase of a first home.


House purchase price $510,000
Minimum deposit required by lender $102,000 (20%)
Deposit components   Saved deposit $50,000
  First Home Grants $16,000
  KiwiSaver first-home withdrawal $36,000
Deposit provided by client $102,000 (20%)
Bank Loan $408,000 (80% LVR)
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