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. Key ownership structures include Freehold (owning house and land), Cross Lease (shared land requiring neighbour approval for changes), and Leasehold (owning a unit but leasing the land, often with body corporate fees).
New Builds offer benefits like lower deposit requirements but risk value drops before completion. In contrast, Existing Homes often have more land and value-add potential but may require more maintenance. This knowledge helps inform your property search.
1. Freehold
2. Cross Lease
3. Leasehold
4. New Build
5. Existing Home
Financial Disclaimer
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