I have just found out that the two seperate townhouses on a block we are going to offer on is strata titled, not subdivided. Does anyone think this matters. Subdivision means each house has its own land and driveway. Strata title means each house has the land it is sitting on, but all other land is common land. Our house has its own driveway and the front lawn fenced off, 'theirs' has a driveway past ours down to the back with a backyard. Common land means in theory they could park on our lawn, or if they put a pool in their backyard, we could swim in it. Of course, this is not going to happen, and I suppose with adverse possession, each townhouse's land becomes their own after 15? years. Does anyone see a problem with this type of title, I think it is fairly common. Any input gratefully accepted
strata/subdivision - problem?
- Thread starter fernfurn
- Start date
Celica,
I think it does matter in so far that a property with it's own title is more popular and that can be reflected in the price.
Depending on the number of dwellings on the title, they can be difficult to deal with. I know a lot of people in small blocks/numbers are able to keep things fairly informal, but as numbers increase they can be unwieldly - that's why groups often appoint an independent strata manager - you should do a search on the web or ask your conveyancer, they should be able to enlighten you on the finer points.
Just being on strata title wouldn't put me off buying but you need to be aware of things like strata fees (I know of one person who pays approx $5000 pa), sinking funds, needing the permission of the corporation to do things like have a pet, plant a tree, install an airconditioner - they can be a little restrictive
Having said that there are thousands of people in this country that live quite happily in the strata titled property
Hope this helps
Tom
I think it does matter in so far that a property with it's own title is more popular and that can be reflected in the price.
Depending on the number of dwellings on the title, they can be difficult to deal with. I know a lot of people in small blocks/numbers are able to keep things fairly informal, but as numbers increase they can be unwieldly - that's why groups often appoint an independent strata manager - you should do a search on the web or ask your conveyancer, they should be able to enlighten you on the finer points.
Just being on strata title wouldn't put me off buying but you need to be aware of things like strata fees (I know of one person who pays approx $5000 pa), sinking funds, needing the permission of the corporation to do things like have a pet, plant a tree, install an airconditioner - they can be a little restrictive
Having said that there are thousands of people in this country that live quite happily in the strata titled property
Hope this helps
Tom
