Body Corp vs Freehold Ownership Cost Calculator

This calculator compares the ongoing cost of owning a body corporate apartment against a freehold house in New Zealand, putting the levies, rates, insurance and maintenance side by side so you compare like with like. The two ownership types bundle their costs differently, which makes a fair comparison surprisingly tricky. An apartment owner pays a body corporate levy that typically covers building insurance, shared area maintenance, management and a contribution to the long-term maintenance fund, plus council rates on top. A freehold house owner pays rates too, but then pays their own building insurance and foots the entire bill for maintenance, from gutters and paint to the roof and the fences. So the apartment levy is not simply an extra cost; it replaces several costs the house owner carries directly. You enter the apartment's annual levy and rates, and the house's rates, insurance and a realistic maintenance allowance, and the calculator totals the annual ownership cost of each and shows the difference. The result varies a lot with the specific building and house, since an amenity-rich apartment with pools and lifts has high levies while a simple house has low ones, or the reverse. Use it to see the true running cost, not just the purchase price.

Apartment levy usually includes building insurance and shared maintenance, which a house owner pays separately. Excludes mortgage. Estimate only.