Should I use my Kiwisaver as a deposit or as a part of the purchase price at settlement?

It depends on your circumstances.  If you are buying off the plans and your property will not be ready for settlement for a while, it may be better to withdraw your Kiwisaver closer to settlement so that you can keep contributing to your Kiwisaver over that period.  

However, if you are unable to access any other form of finance to pay the deposit, then you will need to use your Kiwisaver.  Just to be clear, you will not be able to withdraw any further contribution at settlement. You only get one shot at it.

Keep in mind, if you have spent time overseas working, the IRD will want to review your withdrawal, and this may add five working days to the time it takes to withdraw your Kiwisaver.

Your property journey and Kiwisaver situation will be unique to you so please contact us to discuss your options.

‍