All Topics / Help Needed! / STRATA- 2 units 1 title

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  • Profile photo of Lifes 2 ShortLifes 2 Short
    Member
    @lifes-2-short
    Join Date: 2007
    Post Count: 4
    October 14, 2007 - 10:01 am

    Hi All

    I am in the process of looking at buying 2 units on 1 title currently returning 6.8%. I don't believe the area will achieve huge growth but it will always be consent. The units have recently been freshened up and are not in need of renovation. The carrot in the deal is the possibility to strata and sell them off individually etc etc.

    Having never done a strata before i would really appreciate some tips and pointers.

    Things that i am concerned about are:-

    Cost of strata
    Gaining the necessary approvals – what sort of things may stop it
    On selling – how much value will a strata add to each property

    Also are properties worth more with the preliminary Strata approval in place although the strata has not been completed?

    Thanks
    Kate

    Profile photo of raddlesraddles
    Member
    @raddles
    Join Date: 2006
    Post Count: 187
    October 14, 2007 - 9:52 pm

    Hi there
    why not contact your council and see whether the property can be strata applied, contact a surveyor to check out the costs involved and than contact a body corporate manager to find out the costs of lodging documents at the titles office and the ongoing costs of running a body corporate.

    Unfortunately there is no ball park cause all of these things are variables.  There are people who do value add by this process

    thanks

Viewing 2 posts - 1 through 2 (of 2 total)

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