Just wondering if anyone has any feedback regarding purchasing non-stratered units/villas etc? am looking at purchasing 3 villa’s which are not stratered and it may be possible that they won’t be able to be stratered. Has anyone had any previous experiences with buying/selling these?
They are usually cheaper to buy than their strata counterparts but rent out for the same amount. Lenders are not too keen on company title or multiple properties on one title so borrowing will be more difficult.
Robert Bou-Hamdan
Mortgage Adviser
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Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdThat is what I do.
I purchase multiple dwellings and then strata them off.
What state are they in? How big is the land? What is zoning requirements for that area? Why wouldn’t they be able to be strata’d?
I bet you they can be, and the increase in value can be as SMALL as ten percent, or as great as 20-50% all depending on how you do it, area, demand etc.
Byronent
Adelaide SACould someone please explain strata title please? How does one go about changing properties to strata title?
You can buy properties that have more than one dwelling on it. Say 3 Units/Townhouses/Flats whatever you call them on one title. The only problem with multiple dwellings on one title is you can’t sell them off individually.
Strata or Community titles if approved let you break up the one title so that you can have one dwelling on one title. Sure it increases your rates, water etc on that investment, but your capital value increases and so to the ability to sell a few when you please one at a time.
Hope that helps
Byronent
Adelaide SAsorry for cashing in on the conversation but i was wondering, how does a newby go about finding out if a property can be strata’d? Is it a case of simply looking at zoning or is it something that you need to obtain from the council??
I get the address, and then personally visit the local council and ask too see a town planner.
See what the council would consider and they give you a nice map, info, guideline and so on.
I then take that to a draughtsmen or surveyor depending on what I am doing and off you go. Not an expensive excercise, but can very profitable.
Byronent
Adelaide SA
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