A group made up of property owners within a shared development (such as apartments or townhouses) that manages shared spaces, costs, and rules, usually through a body corporate manager.

A savings support feature under the Rent to Own programme, where Bridge Housing matches the savings you make during your rental period to help you build a deposit faster.

The increase in a property’s value over time. For example, if a home is worth $500,000 when purchased and $570,000 later, the capital gain is $70,000.

A measure of how the cost of everyday goods and services changes over time. It is commonly used to track inflation and cost-of-living changes.

Regular fees paid by homeowners to their local council to help fund services such as roads, water infrastructure, rubbish collection, and public facilities.

Money contributed upfront towards buying a home. This can include savings, KiwiSaver funds, gifted money from family, or an inheritance.

The portion of a property that you own, including your deposit and the amount of the mortgage you have repaid over time.

A type of ownership where you fully own both the home and the land it sits on.

Ongoing payments made for the use of land only, typically associated with leasehold properties.

The percentage charged by a lender on top of the money borrowed, which affects the total cost of mortgage repayments.

A type of ownership where you own the home but pay rent to the landowner for the right to use the land.

The length of time you have to repay your mortgage. A standard loan term is often 30 years but may be shorter depending on age and lender requirements.

Current prices based on what similar homes or rentals are selling or renting for in the market at a given time.

A loan from a bank or lender used to purchase a home, which is repaid over time through regular payments.

An official report prepared by a qualified valuer that estimates a property’s current market value at a specific point in time.

A form of shared ownership where more than one party owns a portion of a property, such as 80% owned by the homeowner and 20% by another organisation.