First Home Buyers Resources

Breaking into the Hamilton property market is a milestone, and while it requires discipline, there are several “boosts” available to help you reach your deposit goals faster. In 2026, the strategy for first-home buyers centers on leveraging your KiwiSaver and utilizing specific government-backed lending criteria.

1. The KiwiSaver Withdrawal

If you have been a member of KiwiSaver for at least three years, you can likely withdraw almost all of your savings (including employer and government contributions) to put toward your first home.

• The Rule: You must leave a minimum balance of $1,000 in your account.
• Timing: Start the withdrawal process with your provider as soon as you start looking; it can take several weeks to finalize.

2. First Home Loan (5% Deposit)

Most traditional bank loans require a 20% deposit, but the First Home Loan—underwritten by Kāinga Ora—allows eligible buyers to purchase with just a 5% deposit.

• Eligibility: This is subject to income caps (currently around $95,000 for individuals and $150,000 for couples/households).
• Benefit: It allows you to stop renting and start building equity years earlier than you would if saving for a full 20% deposit.

3. Shared Ownership: First Home Partner

For those who can afford mortgage repayments but lack a sufficient deposit, shared ownership schemes can bridge the gap. In these cases, a third party (like Kāinga Ora or a private provider) “co-purchases” a percentage of the home with you. You then buy their share back over time as your equity grows.

4. Buying in Hamilton: What to Expect

In 2026, the “entry-level” price point for a tidy 2-3 bedroom home or modern townhouse in Hamilton typically sits between $600,000 and $720,000.

• Target Areas: Suburbs like Melville, Dinsdale, and Frankton are perennial favorites for first-home buyers due to their relative affordability and proximity to the city.
• New Builds: Consider a new build or “off-the-plan” purchase. These often come with lower deposit requirements from banks and lower ongoing maintenance costs.

First Home Buyer Checklist

• [ ] Check your KiwiSaver balance: Log in to your provider to see exactly how much you can withdraw.
• [ ] Get a “Home Loan Coach”: Talk to a mortgage broker. Their services are usually free for you (they are paid by the bank) and they can compare multiple lenders.
• [ ] The “Hidden Costs” Fund: Ensure you have roughly $3,000–$5,000 set aside for your solicitor, building inspections, and the LIM report.