For those in the know, if i purchased a block of seven attached one bedroom units on one title and intended to strata title them and sell off individually, would i have to create a body corporate for the future owners?
Also, what would a ballpark figure of costs involved in strata titling the block in Victoria?
Any help/advice would be much appreciated thanks.
If there are more than two 'units' there must be a body corporate. I believe this is the case Australian wide.
Sorry can't help you with the costs involved of setting one up.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
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Yes you will need strata before you can change the title from DP to SP or community title etc…
Cost- depends on what your unit has already…my parents applied for strata title on their block of 8 back in 2001 that was located in Cabramatta…costed them $150,000 as they had to get fire doors replaced in each unit, new drainage , lots of plumbing work, had to add carports ( 1 per unit), a in built laundry for each unit ( cupboard laundry).
So it depends on your council’s requirement and what your unit’s current attributes.
Mick C | Shape Home Loans
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