Many unit buyers are awash in a sea of information. Some of it conflicting, some of it sound, some of it downright dodgy and a lot of it irrelevant to your very specific pre-purchase circumstances.
Whether you have always lived in a unit or just entering the new world of strata scheme bylaws, owners corporation committees and common property issues, it always pays to do your due diligence before you buy.
In our new guide to assist unit buyers, we’ve outlined the 7 steps to help you make the most informed buying decision before you sign on the dotted line.
At the heart of a sound unit investment is the understanding that your lifestyle and your capital gain is tied to the decisions of a voluntary committee of owners.
How well the owners and their strata manager have managed the collective asset in the past can be investigated and we show you how in our new guide.
Often unit buyers, with the real estate agent’s assistance, get stuck on the details of their individual unit and forget about the costs and opportunities of the larger collective property asset.
We show you how well-managed properties which enjoy:
- a high degree of owner cooperation and participation
- a collective view to consistently maintaining the whole building
- a good record of participation on the owners’ association
- transparent financial records
- a proactive, knowledgeable strata manager
often attract greater capital gain, better rental yield and harmonious living environments.