Can I use my KiwiSaver to build a new home?

Yes. You can withdraw your KiwiSaver savings (minus $1,000 which must remain in the account) to put towards a new build. You need to have been a KiwiSaver member for at least three years. The withdrawal can be used for the deposit or to reduce your mortgage. Apply through your KiwiSaver provider and allow several weeks for processing.

What deposit do I need for a new build in Canterbury?

Most banks require just 10% deposit for a new build, compared to 20% for an existing home. If you qualify for the Kainga Ora First Home scheme, you may only need 5%. For a $600,000 build, that means a deposit of $60,000 at 10% or $30,000 at 5%, rather than $120,000.

Is the First Home Grant still available?

No. The First Home Grant was discontinued in May 2024. However, first home buyers can still access their KiwiSaver savings for a home purchase, and the First Home Loan scheme (offering 5% deposits through Kainga Ora) remains available for eligible buyers.

How much does a first home cost to build in Canterbury?

A well-designed first home of 100-150m² typically costs between $250,000 and $450,000 for the build, depending on specifications. With land in areas like Rolleston or Lincoln, total project costs for a house and land package generally start from around $550,000. Today Homes offers packages specifically designed for first home buyers.

What is the difference between a house and land package and building on my own section?

A house and land package bundles the section and home build into one contract, often with simplified pricing and a streamlined process. Building on your own section gives you more flexibility on location but requires you to manage the land purchase and build separately. For first home buyers, packages are often the simpler and more cost-effective option.

Updated April 2026

First Home Buyer's Guide to Building in Canterbury

Name: Today Homes
Address: 4/251 Blenheim Road, Riccarton, Christchurch, Canterbury, 8041, NZ
Telephone: (03) 341 6460

Building your first home is one of the biggest decisions you will make. This guide covers everything you need to know about building a new home in Canterbury, from financial support and deposit requirements to choosing the right area and working with a builder. Written for Canterbury buyers, by Canterbury builders.

Why build a new home as a first home buyer

Brand new builders guarantee

New homes come with a builders guarantee and meet the latest Building Code requirements. You are covered from day one with a home built to current standards.

Lower deposit requirements

New builds qualify for lower deposit thresholds than existing homes. You may only need 10% (or even 5% through Kainga Ora) instead of the standard 20%.

Lower maintenance costs

Everything is new, so there are no surprise repair bills in the first few years. Modern materials and construction methods mean less upkeep over time.

Designed for how you live

Choose a floor plan that suits your lifestyle, with the kitchen, living, and outdoor flow you actually want. No compromises or costly renovations needed.

Better energy efficiency

New homes are warmer, drier, and cheaper to heat. Double glazing, modern insulation, and efficient heating systems come as standard in a new build.

Financial support for first home buyers

There are several ways to make your first home more affordable. Here are the main options available in New Zealand.

KiwiSaver first home withdrawal

After three years of membership, you can withdraw most of your KiwiSaver balance to put towards your first home. A minimum of $1,000 must remain in the account. This can make a significant difference to your deposit.

Apply through your KiwiSaver provider and allow 10-15 working days for processing. Your solicitor will coordinate the timing with settlement.

First Home Loan

The Kainga Ora First Home Loan allows eligible buyers to purchase with as little as 5% deposit. Income caps and house price caps apply, and these vary by region. In Canterbury, the property price cap is higher for new builds than for existing homes.

Check the Kainga Ora website for current thresholds and eligibility criteria.

First Home Grant

Discontinued

The First Home Grant was discontinued in May 2024. Previously, it provided up to $10,000 for new builds ($2,000 per year of KiwiSaver membership, up to five years). This is no longer available.

However, KiwiSaver withdrawal and the First Home Loan remain available and are often more valuable than the grant was.

Deposit requirements for new builds

One of the biggest advantages of building new is the lower deposit requirement. Here is how the options compare.

Option	Deposit	On $500,000	On $600,000	Notes
Standard deposit	20%	$100,000	$120,000	Standard requirement for existing homes
New build (most banks)	10%	$50,000	$60,000	Available for new builds with most lenders
Kainga Ora First Home	5%	$25,000	$30,000	Income and house price caps apply

Best Canterbury areas for first home buyers

Canterbury offers several excellent locations for first home buyers, each with its own character and advantages.

Rolleston

One of New Zealand's fastest-growing towns. Excellent schools, shopping, and a strong community feel. Just 25 minutes from central Christchurch with easy motorway access.

Lincoln

A popular choice for families and young professionals. Close to Lincoln University, with a relaxed village atmosphere and good amenities. Competitive land prices.

Rangiora

North Canterbury's main town, offering a great mix of rural lifestyle and urban convenience. Good schools, a vibrant town centre, and slightly larger section sizes.

Halswell

A sought-after suburb in southwest Christchurch with excellent infrastructure. Close to the city while still feeling like its own community. Newer subdivisions offer modern living.

Leeston

An affordable option with a genuine rural feel. Larger sections and lower land costs make it ideal for first home buyers wanting more space for their money.

The building process: 7 steps to your first home

Building a home is more straightforward than most people think. Here is what the journey looks like from start to finish.

Get your finances sorted

Talk to a mortgage broker or bank about your borrowing capacity. Check your KiwiSaver balance and understand what deposit you need. Getting pre-approval gives you a clear budget to work with.

Research areas and builders

Visit the areas you are interested in. Look at schools, commute times, and community facilities. Research builders and check they are Registered Master Builders or Licensed Building Practitioners.

Choose your section or house and land package

You can buy a standalone section and build on it, or choose a house and land package that bundles everything together. Packages simplify the process and often offer better value for first home buyers.

Select your floor plan and specifications

Work with your builder to choose a design that fits your site and budget. Decide on layout, number of bedrooms, and the level of finish. A good builder will help you prioritise within your budget.

Sign your building contract

Review the contract carefully with your solicitor. A fixed-price contract gives you certainty on costs. Make sure you understand what is included and what is additional.

Building consent and construction

Your builder lodges the building consent with the council. Once approved, construction begins. A typical build takes 16-26 weeks depending on design complexity.

Handover and move in

Your builder completes a final inspection with you, obtains the code compliance certificate, and hands over the keys. Welcome to your new home.

Common mistakes to avoid

Learning from others is the fastest way to avoid costly errors. Here are the most common mistakes first home buyers make.

Not getting pre-approval first

Falling in love with a home or package before knowing what you can afford leads to disappointment. Get your finances confirmed before you start looking seriously.

Forgetting about extra costs

The build price is not the total cost. Budget for land, site works, council fees, legal fees, driveways, fencing, and landscaping. Ask your builder for a full breakdown.

Not using your KiwiSaver

Many first home buyers underestimate how much they have in KiwiSaver. Check your balance and understand the withdrawal process early, as it takes several weeks to access.

Choosing location based on price alone

The cheapest section is not always the best value. Consider commute times, school zones, future development plans, and resale potential when choosing where to build.

Skipping the solicitor review

Building contracts are significant legal documents. Having a solicitor review your contract before signing is a small cost that can prevent major issues later.

Waiting for the perfect time

There is rarely a perfect time to buy your first home. Interest rates, building costs, and land prices all fluctuate. The sooner you start building equity, the better off you will be.

Questions to ask your builder

Are you a Registered Master Builder or Licensed Building Practitioner?

Do you offer a fixed-price contract, and what does it include?

What is the expected build timeline, and what could cause delays?

Can I see examples of homes you have built in a similar price range?

What guarantees and warranties come with the build?

How Today Homes helps first home buyers

We have helped hundreds of first home buyers across Canterbury build their first home. Our team understands the unique challenges first buyers face, and we are here to make the process as smooth as possible. We offer affordable house and land packages, fixed-price contracts with no surprises, and guidance at every step from finance through to handover. You do not need to have all the answers - that is what we are here for.

Talk to Us About Your First Home

Frequently asked questions

Ready to start your build?

Talk to our team about your new home in Canterbury. No obligation, just a friendly conversation about what is possible.

Enquire Now (03) 341 6460

enquiries@todayhomes.co.nz|Monday - Friday, 8:00am - 5:00pm