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I would be a bit concerned regarding the capital growth in the area. There is plenty of flat land available for development and this will limit the growth in property values.
I think that this is a problem with Melbourne generally – developments in North, West and South East.I bought a unit in Sydney last year that had an outstanding issue with the local council regarding the height of the balustrading which my solicitor happened to come across. Estimated cost $2,000. The solicitors held the money in trust until the work was completed, at no cost to me.
I am in the process of purchasing another unit in Qld and the solicitors asked if I was happy to pay the $70 for a search of the Body Corporate minutes. Based on my previous experience I was happy to pay.Am just in the process of finalising the purchase of a property. Like a number of others in the forum, if everything stacks up then I will invest.