Buying a property is usually the biggest financial decision one makes. This is especially so when buying the family home – not only does the property have to cater to your family, but it should also suit your family’s lifestyle for years to come.
With strata managed properties having many advantages, an increasing number of families are looking to community living as the place to put down roots in their forever home. Here are some tips as to what to look for when buying a family home within a strata property.
1. Check by-laws & rules.
Strata property by-laws and rules vary from building to building, with some properties being more child orientated than others. Most buildings will have guidelines covering supervision of children in common areas like the pool or garden. Be sure to check these out before making an offer.
2. Consider the type of property.
Buying a townhouse within a complex is very different to buying a unit in a small apartment block. Each property type has a unique set of benefits and it’s important to consider what will be right for you. If you have a small family and aren’t planning on growing – a smaller space may be adequate. If you have pets and several children a townhouse with a grassed low-maintenance courtyard may be better suited.
3. Safety first.
When looking to buy a property, your child’s safety is of the utmost importance. This means evaluating the property’s risk factors such as stairs, balcony access, windows and checking common areas. You should be able to make simple yet effective changes with the approval of your committee, however, you should check the existing by-laws and rules to see what the processes are regarding home improvement.
4. Car parking.
As your family grows the number of cars you have may as well. Your strata property may only come with one allocated spot, so checking whether access to street parking and residential and guest parking permits are easily available is well worth researching.
You’ll also want to make getting children from the car into your home as simple as possible, especially if you’re wrangling shopping bags at the same time. A safe, secure parking spot – say a garage or carport – with lift access that’s close to the dwelling with minimal obstacles is ideal.
5. Ask other owners.
Asking the opinion of other owners with children will give you honest and unique insights into how the strata property is being managed. Ask questions about whether neighbours are friendly, if there are many other families in the complex, where the nearest playground and childcare is, and if they feel the neighbourhood and property is safe for kids.
We hope these five considerations help to inform your next house hunt and that you land the perfect strata residence for your family.
The information provided is a general guide only and is not intended as a substitute for legal advice. The company disclaims all responsibly and liability for any expenses, losses, damages and costs which might be incurred as a result of the information provided by the company.