Dwelling types

Freestanding house

The most common type of housing – you have your house on a piece of land and nobody around you! There isn't much to say here. These homes are easy because you don't have to deal with anyone else, and you know the four walls around you.

Terraced Housing / Units

Terraced houses are a recent addition to the Auckland market – typically new builds out in Hobsonville, or under the Unitary Plan. Terraced houses are cost effective, modern, and are low maintenance. You will be sharing a wall with other people, and there may be a shared driveway.

Some banks will be reluctant to lend on terraced housing, there may be insurance implications, and many of them have covenants, so make sure you check before you make an offer.

Something to be mindful of is there may be covenants, that restrict what you can do with your home, including hanging your laundry out on the balcony, or the shared spaces.

Semi-Detached dwelling

Usually this means the house is separate, but your garage (may be internal access), is attached to your neighbour’s garage. These tend to be cheaper, and there’s some increased headache in relation to making changes to your building. Again, consult insurance and banks early, as you will share a wall of some sort with your neighbour.

Apartment

As the name implies, an apartment means a defined space within an apartment building. This guide won’t focus on apartments – they’re a different class of their own. If you are set on apartments, some things to consider:

1. Depreciation: Apartments don't own land, they are units on a shared parcel of land. This means while the location itself may induce an appreciation of your unit, the unit itself will get older and depreciate. I am not sure there are many success stories of appreciating apartment units in Auckland.

2. Shared services: You have to share, and I don't like sharing. You can't control who your neighbours are, but you will have them beside, above, and below. The other issue is you may not be able to easily choose power, water, or fibre providers. If you have an EV - you may not be able to easily install a charger for example.

3. Body corporates: Body corporates are required by law and govern apartments. They set the rules, and you must abide by them. The fees for these are low in the first few years, but as maintenance costs increase, these costs can significantly increase too.