With Auckland’s soaring house prices, more first-home buyers are stepping onto the property ladder through apartment living. But while high-rise life has its perks, buying an apartment comes with its own set of risks—think leaky buildings, surprise repairs, and unexpected costs. Many new apartments offer a 10-year warranty or insurance, but not all do. If issues go unnoticed for years, you could be footing the bill for problems you didn’t create. Even worse, some developers disappear when legal action is needed, leaving owners in a tricky spot.
When you buy an apartment, you automatically become part of the Body Corporate—a group of all unit owners responsible for managing the building. This means you don’t just own your unit; you also share responsibility for the common areas, maintenance, and repairs. The Unit Titles Act 2010 requires body corporates to have a 30-year maintenance plan, but not all buildings are well-funded. New disclosure rules help buyers by providing body corporate minutes, financial records, and maintenance plans upfront—so always do your homework!
Thinking of buying? Make sure you talk to our Property team first.
