Body Corp vs Freehold Ownership Cost Calculator NZ

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.

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Apartment (body corporate)

Annual body corp levy

Annual rates

Freehold house

Annual rates

Annual insurance

Annual maintenance

Apartment costs $800 less a year

ongoing ownership cost, excluding mortgage

Apartment per year$8,200

House per year$9,000

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

How it works

The apartment annual cost is the body corporate levy plus rates. The house annual cost is rates plus building insurance plus your maintenance allowance. The calculator compares the two totals, since the levy already bundles the insurance and shared maintenance a house owner pays on their own.

Worked example

An apartment with a 6,000 dollar levy and 2,200 dollars of rates costs 8,200 dollars a year. A house with 3,500 rates, 2,500 insurance and 3,000 maintenance costs 9,000 dollars, so the apartment is about 800 dollars a year cheaper to run here.

Related calculators

Body Corp Levy Forecast: future levies.
Property Ownership Cost: full cost.
Unit Title Maintenance Levy: long-term fund.
Rates by Region Calculator: council rates.
Rental Income Split Calculator NZ: co-Owned Property Shares.
Property Development Feasibility Calculator NZ 2026: land, build and holding costs against expected end value.

Frequently asked questions

Is an apartment cheaper to own than a house?

Not necessarily. Apartments charge body corporate levies that cover building insurance and shared maintenance, while a freehold house owner pays insurance and maintenance directly. The total can land either way depending on the building and the house.

What is included in body corporate levies?

Usually building insurance, shared area maintenance and management, and contributions to a long-term maintenance fund. That means an apartment owner does not separately pay building insurance or exterior upkeep, which a house owner does.

What costs should I compare?

For the apartment, the body corporate levy plus council rates. For the house, rates plus building insurance plus an allowance for maintenance. This calculator totals each so you compare like with like.