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Looking to turn that KiwiSaver balance into a front door key? You're in the right place. Your KiwiSaver is like a golden ticket to the property market - and we're here to help you cash it in.
Think of your KiwiSaver as your home deposit's secret weapon. The best part? It's money you've already saved. No scrambling for extra cash or living on two-minute noodles (unless that's your thing).
Before you sprint to the bank, let's check if you're eligible. Spoiler alert: it's pretty straightforward.
You're good to go if:
Been there, done that with home ownership? You might still be in the game if:
Here's the deal - you'll need some documents, but don't let that scare you. Think of it as collecting ingredients for your home-buying recipe.
First up, hit up your KiwiSaver provider. They'll need your John Hancock on their withdrawal form. But that's just the appetiser. You'll also need that signed sale and purchase agreement - the one that made your heart skip a beat when you first saw the price.
Your current ID is crucial too. Got a passport or driver's licence? Perfect. Chuck in a recent power bill or bank statement for proof of address, and you're almost there.
The final piece of the puzzle? Your solicitor's letter. They'll promise to use your KiwiSaver money for its intended purpose - your first home. No cheeky holiday upgrades allowed!
At Aera, we work directly with new builds, getting you in on the ground floor - literally! When you choose brand new over used, you're not just getting a fresh start - you're making a smart financial move all around.
The Aera Advantage
Your brand new home comes with an extra perk: up to $10,000 in Aera Credits added to your deposit. No extra hoops to jump through, no fine print to decode. Just straight-up speed for choosing brand new over used. Fast tracks things a bit doesn’t it? Stack that with your KiwiSaver first home withdrawal, and you're really cooking.
Speaking of which - your brand new kitchen (and everything else) comes with modern energy efficiency built in. Lower bills from day one? Yes, please!
Time to turn those documents into your deposit. Think of this as your game plan for the big leagues - every step counts, and we're here to make sure you nail each one.
Your KiwiSaver provider is like your team captain in this game. They've done this thousands of times, and they're ready to guide you through the process. First move? Give them a call. No need for a fancy script - just tell them you're buying your first home and want to access your KiwiSaver.
Here's your gameplan:
Most providers take about 10-15 working days to process everything. That might feel like waiting for your favourite takeaway place to open, but it's actually pretty quick in the grand scheme of things.
Got an auction in your sights? That's a whole different ball game. You'll need pre-approval from your provider before you start waving that paddle around. Talk to them early - like, yesterday early.
The secret sauce to a smooth process? Communication. Keep everyone in the loop:
Pro tip: Create a simple timeline on your phone. Work backwards from your settlement date and mark all the key deadlines. It's like having a GPS for your home-buying journey.
Most providers take about 10-15 working days to process everything. But here's a ninja move: start your application even before you've found a house. Some providers offer pre-approval, which means you're basically ready to go when you find "the one."
Got cold feet about starting the process? Don't. The worst that can happen is you'll be super prepared for when you do find your dream home. And the best? You'll be signing those papers while others are still figuring out how to spell 'KiwiSaver'.
Let's talk timing - because nobody likes a last-minute scramble.
Your KiwiSaver funds are like a VIP guest at your settlement party - they show up exactly when needed. The money goes straight to your solicitor on settlement day. No detours to your personal account (sorry, no new furniture shopping spree).
Got an auction in your sights? That needs special planning. Same goes for conditional offers. Give yourself breathing room - about 15 working days should do it.
Even the smoothest roads have a few speed bumps. Here's how to cruise right over them:
The biggest mood killer? Leaving things too late. The moment that offer goes unconditional, start your withdrawal process. Set those phone reminders. Bug your solicitor (politely). Keep that momentum going.
Missing documents are another classic hiccup. Double-check everything before you hit send. Got a checklist from your provider? Use it. Love it. Live by it.
Want to supercharge your deposit? Aera Deposit Credits are like finding an extra power-up in your home-buying game.
We're talking up to 10,000 big ones. Letting a First Home Faster team help you from the starting grid to the finish line? The rules? They're pretty clear: just check the milestones you need to tick off in your Aera app or on the Aera Credits web page, and use Aera for those key services to get to that front door - including securing your lending, insurance and finding you that home!
Take it from Sarah Thompson at Wellington Property Law: "Most first-home buyers hit pause on their KiwiSaver withdrawal until the last minute. That's like starting your Uber hunt after the party's finished."
Here's what savvy buyers do differently:
Your winning strategy? Keep that KiwiSaver growing while you're house hunting. Check your balance regularly - it's like watching your high score climb. And hey, keep your provider in the loop if your phone number changes. Nobody likes playing phone tag.
"When do I actually get my hands on the money?" Your solicitor gets it on settlement day. They're like your money bodyguard - making sure everything goes where it should.
"Can I drain my entire KiwiSaver account?" Almost! You can't touch the $1,000 kickstart (if you got it) or any Australian super savings. Everything else? Fair game.
"How long does this whole process take?" Standard processing: 10-15 working days Getting pre-approval: 5-7 working days Complex cases might take up to 20 working days
Think of it like ordering online - standard delivery vs express. Start early and you won't need to pay for rush shipping.
Got questions? These legends can help:
Of course your Aera First Home Faster team can help with everything - so if you haven’t already, sign up and become a member. For free.
Your first home isn't just a dream - it's your next achievement waiting to happen. The KiwiSaver withdrawal process might look like a maze, but you've got the map now.
Ready to make your move? Here's your launch sequence:
You should already have your Aera First Home Faster team in your corner. If you don’t, let's get that sorted.
This guide is your starting point. Your KiwiSaver provider might have their own flavour of rules. Always check with them and your solicitor for the final word.
Expert tip: Want to fast-track your first home journey? Take our quick quiz to see exactly where you stand and what moves to make next.
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