Afternoon everyone.
I've been looking at apartments lately for myself. Generally all strata titled properties.
However I came across a property today with a freestanding title. It's a funny little accessory building on the back of another older building which has been converted into apartments I believe.
It's no larger than 40m2 internally. No courtyard to speak of, but does have a car park on title.
The building is old and the property itself is nothing special.
I am curious though, as I haven't come across this before, but how much value does a free standing title add to a property?
Obviously that can't be answered with a dollar amount. But other than not paying body corp fees, or needing body corp permission to renovate etc... what are the other benefits (if any) of a free standing title?
Thanks.
I've been looking at apartments lately for myself. Generally all strata titled properties.
However I came across a property today with a freestanding title. It's a funny little accessory building on the back of another older building which has been converted into apartments I believe.
It's no larger than 40m2 internally. No courtyard to speak of, but does have a car park on title.
The building is old and the property itself is nothing special.
I am curious though, as I haven't come across this before, but how much value does a free standing title add to a property?
Obviously that can't be answered with a dollar amount. But other than not paying body corp fees, or needing body corp permission to renovate etc... what are the other benefits (if any) of a free standing title?
Thanks.