Hi, i am considereing buying my first property in NSW utilizing the first home owners grant with the eventual aim that the home will become an investment property after 6-8 months. However the house i am interested in is Stata title owned. I am hoping to get some advice on this situation and what i should consider? in particular warning bells for strata owned property and are the fees i pay in any way tax deductible when it becomes and investment? Unfortunatley i am limited in my home options where i am and most of the places which i consider to be good and are in my price range are strata titled.
Thankyou in advance!
Purchasing a strata titled house is generally no different to buying a strata in any other form eg townhouse or unit. As the strata only relates to the two houses, there is generally no need to appoint a strata manager as it is easy enough to have you and your neighbour to have an annual meeting to discuss all maintenance issues relating to common areas (ie the common wall, dividing fence & driveway).
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