Low rise apartment block with lift

[Micky72]

I'm looking at purchasing an apartment in the inner west of Sydney.

It's a 3 level walk up - but with a lift? Why is that?
Most of the small rise apartments in the area don't have them, only the high rise buildings do.

At this point, this is the only thing holding be back from making an offer on the property. Other than the fact that the balcony is not under cover.

You thoughts please.

 

[Propertunity]

I'm looking at purchasing an apartment in the inner west of Sydney.
It's a 3 level walk up - but with a lift? Why is that?
You thoughts please.

When we buy units in the Inner West and other places, we avoid buildings with lifts because of the increased costs associated with maintenance, that strata levies must cover.

You don't say how many units are in the complex - but I suppose the more units then the more owners to share the costs BUT I'd still avoid it and find something without a lift.

You don't say how old the building is, but if new(ish) the lifts may still be covered by warranty and the strata levies not too bad. However, when the lifts come out of their warranty period, this is when strata levies get hiked to cover costs.

 

[Micky72]

The building is approx 13 years old and has a total of 20 units.
Have yet to find out the break up between admin and sinking levies
and respective current balances.

 

[Gockie]

The building is approx 13 years old and has a total of 20 units.
Have yet to find out the break up between admin and sinking levies
and respective current balances.

It mightnt be a great idea... I have a unit in a complex of 72, with 2 lifts. One of the lifts needed replacing 2 or 3 years ago and that cost $125k spilt between 72 owners. If you're ok with potentially having that amount shared by 20 owners, then by all means. Lifts also need ongoing maintenance too.

 

[Micky72]

But how comparable are the costs of the lifts in 2 such different buildings?

What are the usual ongoing maintenance cost for lifts too?

Looks like I will look elsewhere now, but I would just like to know.