Feature article
House hunting: what are the different types of properties?
There’s plenty of variety in the NZ housing market.
AI summary
Understanding NZ property types is crucial for house hunters. Ownership structures include Freehold, where you own the house and land; Cross Lease, with shared land requiring neighbour approval for changes; and Leasehold, where you own the unit but lease the land, often incurring body corporate fees.
Buyers also choose between a New Build and an Existing Home. New builds may have lower deposit needs but risk value drops before settlement. Existing homes often have larger sections but may require more maintenance.
1. Freehold
2. Cross Lease
3. Leasehold
4. New Build
5. Existing Home
Financial Disclaimer
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