If you are actively looking for a unit to purchase, or maybe you are considering purchasing an investment property and think a unit is the best option, there are definitely some main points to consider before you comitt.
One of the most important point to consider is the by-laws. Many Body Corporates have specific by-laws in place which can restrict an owner from activities that might have been taken for granted in a house. This includes, but is not limited to: changing the appearance of their lot, displaying washing on balconies and keeping a pet. This is something to keep in mind when you consider what kind of tenants you’d like to attract.
As a unit owner, you are automatically a member of the body corporate and have the opportunity to have your say on the decisions the Body Corporate makes. Investing in strata living can be fantastic – you just have to find the scheme that’s right for you and the future of your investment. Consider these tips when you begin your search.