Hey everyone,
hope y'all are doing swell. I tried to search for a similar topic on the forum but couldn't find any. My question is about the difficulties associated with owning a top floor apartment with a flat roof. The unit has a list price of $245K and I think it may be priced cheaper than other units on the middle floor which went for around $260K (according to the agent, I don't know if its true). If I went for the purchase is there anything I could do to address the potential problems of heat or whatever other problems come with a flat roof? Or should I just avoid the purchase altogether?
The building itself is probably close to 40 years old and there are 8 units in each building.
Thanks in advance! any help or comments are appreciated.
Assuming the unit forms part of a strata plan then the roof will be the responsibility of the Body Corporate.
As long at there is sufficient funds in the sinking fund and each lot has the same number entitlements you shouldn't be in for any additional expense.
Richard Taylor | Australia's leading private lender
Thanks for the quick response Richard. I will keep those things in mind. Basically it sounds like the only issue may be a little less value if I resell compared to units in the middle and bottom floors.
At least you won't have the sound of people walking above you, sometimes that can be very annoying, particularly with wooden floors. Are views a selling point? Are you also higher than nearby buildings, therefore offering more privacy for yourself or tenants? negative, if there is no lift is walking up the extra flight of stairs
Sonya
Hi Sonya there is no lift. I’m avoiding lifts at the moment from the stories of extra costs if they break down or need fixing. I guess my biggest concern was the issue of heat as I was thinking the top floor would cop most of the heat. And I never thought about the idea of extra privacy so that’s another plus. Thanks for your feedback!
I live in a top floor flat with a Flat roof and is noticably hotter on the hot days we get in Melbourne, our block is also approx 40 y.o. but due to low sales in the particular block no apparent difference in price is really apparent
The Block was 'Renovated' some 9 years ago and appart from the 2 downstairs units with courtyards the flats where about the same price (slight differences in layout)
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