For many people buying a unit is an affordable way to get into the property market. Units are also great if you are not interested in looking after gardens and lawns. They are perfect for people with busy lifestyles and if you are planning on living close to the city centre they are much cheaper than a house.
Strata fees are an ongoing cost when you buy a unit. Strata Fees are levies which are generally paid quarterly to cover the cost of repairing and maintaining the units blocks common or shared areas. You will pay based on the square meters of your unit and the expenses of the property. If the property has a pool, gym, lifts etc. the fees can be quite costly.
- What are the owner’s strata fees
- Is there a maintenance fund
- Is there an ongoing debt
- Are there any planned building works
- What are the pet ownership rules
- Common area rules
- What are the meeting requirements
- Ask if you can view minutes from a recent meeting
- Is there a local park
- Nearby shops
- Restaurants, cafe’s and bars
- Public Transport
Parking & Storage
- Does your property have a car space or garage on the title?
- Is it single or double?
- What storage do you need?
- Ensure you walk through the property prior to purchase.
- Ask about the number of renters to owners within the property.
- Does it seem noisy, smelly, messy, dark!
- Is it a security building?
Structure and layout
- Check for any cracks, mould or broken sealants.
- What are the walls made of and are they insulated well?
- Is there carpet or floorboards?
- Remember that renovating a unit is not always easy and changing the layout is rarely possible.