KiwiSaver: Which fund is best for first-home buyers?

Good news on making the first step to start saving for your first home. Your KiwiSaver money could make up all, or some of your first-home deposit.

Plus, there are other ways to get a bit of extra money to help you buy your first home, like the First Home Grant.

To get the most bang for your buck when you’re saving for the deposit, it’s important for your KiwiSaver money to be invested in the fund type that’s right for you.

If you’ve already decided to use your KiwiSaver money to save for your first-home deposit, then there’s just one question remaining.

How soon will you need your money?

Under five years

At JUNO, we say that if you think you’ll need your money in under five years, then a Conservative fund could be a good choice for you.

Being in this lower-risk fund can help reduce the impact of market ups and downs, and help preserve your capital, with some growth.

Help me choose the right fund

More than five years

If buying a first home isn’t immediately on your horizon, then you might want to take a different approach.

If you plan on using your money in about five years or more, then a riskier fund might suit you.

Being in a growth fund can mean higher returns on your KiwiSaver money, but it comes with higher risk. If you’re happy with risk when you’re investing, or perhaps you don’t need your money for 10 years or more, this might be right for you.

But if you’re more of a nervous or conservative investor, or you want to use the money closer to five years, a balanced fund might be better.

If you’re feeling confused about what type of KiwiSaver fund your money should be in when you’re saving for your first home deposit, it’s a great idea to speak to a financial adviser. They can help work out what’s best for your goals and personal situation, and help you work out how much risk you’re happy to take on.

How to get more money for your first-home deposit

Information correct as at July 2022. Pie Funds Management Limited is the issuer and manager of the JUNO KiwiSaver Scheme. Click here for our Product Disclosure Statement. Any advice is given by Pie Funds Management Limited, and is general only. It relates only to the specific financial products mentioned and does not account for personal circumstances or financial goals. Please see a financial adviser for tailored advice. You may have to pay product or other fees if you act on any advice. As manager of the Scheme we receive monthly fees that are determined by your balance and whether you are 13 years or over. We will benefit financially if you invest in our products. We manage any conflicts of interest via an internal compliance framework designed to ensure we meet our duties to you. For information about the advice we can provide, our duties and complaint process and how disputes can be resolved, visit All content is correct at time of publication date, unless otherwise indicated. Past performance is not a reliable indicator of future returns. Returns can be negative as well as positive and returns over different periods may vary. Please let us know if you would like a hard copy of this disclosure information.