This New Zealand calculator helps buyers compare the ongoing costs and considerations of different property ownership types, freehold, cross-lease, unit title, and leasehold, which can differ significantly and surprise the unprepared. You enter the property details, and the tool helps you account for body corporate levies on a unit title, ground rent on leasehold, shared maintenance on a cross-lease, and the rates and insurance that apply across all of them. The breakdown lays out the likely annual ownership cost for the relevant type, helping you compare two properties on a true cost basis rather than purchase price alone, and understand why a cheaper-to-buy leasehold or unit-title property may cost more to hold.
These are ongoing holding costs and do not include the mortgage. A unit title generally has body corporate levies, and leasehold has ground rent, which can be substantial. Always review the body corporate or lease documents before buying. Estimate only, not financial or legal advice.
Every property has rates, insurance and maintenance. On top of those, a unit title usually carries a body corporate levy for shared insurance and maintenance, and a leasehold property has ground rent paid to the owner of the land. The calculator adds the costs that apply to your ownership type to give a true annual holding cost, which lets you compare properties fairly. A lower purchase price does not always mean a cheaper property to own.
A freehold home with $3,000 rates, $2,200 insurance and $2,500 maintenance costs about $7,700 a year to hold. A similar unit-title apartment might have lower maintenance but a $6,000 body corporate levy, pushing its annual cost well above the freehold despite a lower price tag.
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