Co-Ownership: Frequently Asked Questions

What Are The Most Commonly Ask Questions About Co-Ownership?

We’ve had a lot of first home buyers asking questions about Co-Ownership.  Questions like “What is Co-Ownership?” and “How does Co-Ownership work?”.  So here we’ve put together some FAQs about Co-Ownership.  Got other Co-Ownership questions? Get in touch with us for the answer. 


Co-Ownership Housing is a shared ownership initiative designed to help you overcome the challenges of owning your own home.

Co-Ownership offers assistance to first home buyers who do not have 20% deposit with certain criteria designed to ensure they are not overstretched.
You purchase a 75% share of the property, Co-Own invests the other 25% of the purchase price
Here is a explanation of how Co-Ownership compares to the conventional purchase of a property.


Is there an income cap?

Co-Ownership is a private programme and there is no income cap or eligibility criteria specified by the Government.

Can we rent the property?

This is a home ownership programme and you must live in the property unless your circumstances change.

What is the minimum deposit required?

You need at least 5% of the purchase price of the house. This can come from your Kiwisaver if this is your first home.

How much do I need to borrow?

With house prices in Auckland you need to be able to borrow around $550,000 and for a couple this requires a combined household income of at least $110,000 p.a. It may be less if you buy an apartment.



Can I buy any house?

The programme is for new houses and apartments supplied by recognised building companies.  Some of the current Co-Ownership houses available are listed here.

Can I make changes to the houses being built?

No – the design and plans for the houses are determined by the builder and approved by Auckland Council. Once you own the house you are free to alter and maintain it.



What is the cost of the houses?

The builder sets the price of the house. Co-Own buys 25% with you so you will need 75% from your deposit and home loan.

How do we obtain a loan?

Our mortgage advisor will contact you and arrange a home loan for you.

Who decides the market value of the house?

The lender will require a market valuation from an independent registered valuer and we will arrange this for you.



What role does Co-Own play as joint owner?

Co-Own plays a passive role. When the property is sold, we get our share of the sale price.

How often can I increase my share in the house?

At any time after the fifth anniversary.

Is there a time frame for me to achieve full ownership of the house?

No – Co-Own will own the house with you until you sell it.

What is the cost of co-ownership?

There is an Equity Land Charge on the amount of Co-Own’s share. This is fixed for five years and is payable monthly.

What other costs will the homeowner have?

Rates, insurance and maintenance. Because the house is new there should not be a lot of maintenance.


How do I apply for Co-Ownership?

Please complete the Co-Ownership application form below.

Co-Own will then contact you and discuss your plans for home ownership. Co-Own will explain Co-Ownership and any other questions you have.

Co-Ownership Application


Dustin Lindale April 20, 2018 Blog