Buying a unit or townhouse in a Strata Scheme? If the answer is yes then you are buying the airspace between the walls and ceiling. In most instances the remainder of the property - the walls, driveway, garden and lawns (called the Common Property) is owned by the Owners Corporation (previously known as the Body Corporate).
To pay for the maintenance and repair of the Common Property the Owners Corporation raise funds in the form of strata levies. Large maintenance requirements or repairs = large strata levies.
Prime Conveyancing have years of experience in advising buyers of units and townhouses in the Sydney Region, Parramatta Region and Sutherland Shire and we also have a network of strata inspectors who provide us with comprehensive reports to enable us to advise on any risks or problems with the Strata Scheme.
Do you have a question about a strata scheme or thinking of buying a unit or townhouse? Why not contact us or Get a Quote Now?