The Benefits of Buying a Strata Property in Perth: Exploring Different Strata Titles
Perth offers a diverse range of real estate options to potential buyers. One popular choice among homebuyers in Perth is strata property.
Strata properties provide a unique blend of convenience, affordability, and community living that appeals to a wide range of individuals and families. In this blog, we'll delve into the benefits of buying a strata property in Perth and discuss the different strata titles that can be found in the city.
What is Strata Property?
Strata property refers to a type of real estate ownership in which an individual owns a specific unit or lot within a larger complex or building.
This larger complex or building is usually comprised of multiple units, common areas, and shared facilities. Owners of strata properties, also known as "strata owners," collectively manage and maintain the common areas and facilities through a strata corporation or body corporate.
Benefits of Buying a Strata Property in Perth:
Affordability: Strata properties in Perth are often more affordable than standalone houses or traditional townhouses. This affordability can make homeownership more accessible to first-time buyers or those looking to downsize.
Amenities and Facilities: Many strata complexes in Perth come with a variety of amenities and shared facilities, such as swimming pools, gyms, communal gardens, and security systems. These amenities can enhance your quality of life and are often included in your strata fees.
Low Maintenance: Strata properties are typically low-maintenance, as the strata corporation is responsible for the upkeep of common areas and external building maintenance. This means you can enjoy the benefits of well-maintained surroundings without the hassle of yard work or exterior repairs.
Sense of Community: Living in a strata property often fosters a sense of community. Residents come together for strata meetings and events, creating opportunities for social interaction and networking.
Location: Many strata properties are situated in prime locations, close to the city center, public transportation, shopping centers, and recreational areas. This can enhance your overall lifestyle by offering convenience and accessibility.
Different Strata Titles in Perth:
In Perth, as in many other places, there are various types of strata titles that determine the nature of ownership and responsibilities within a strata property. Let's take a closer look at some of the most common strata titles you might encounter.
Strata Title: Under this title, each strata owner owns their individual unit or lot, while the common areas and facilities are owned collectively by the strata corporation. Strata owners have a say in decisions related to the common property and are responsible for paying strata levies to fund maintenance and management.
Survey-Strata Title: Survey-strata properties are usually detached dwellings, such as houses or duplexes. Each lot is defined by a survey plan, and owners are responsible for maintaining their own external areas. Common property may still exist, such as shared driveways or walkways.
Built-Strata Title: Built-strata properties are often multi-unit complexes, and ownership extends to both the individual units and the land beneath them. This type of title is less common in Western Australia.
Leasehold Strata Title: In this arrangement, the strata corporation leases the land from a third party, often the government, and then subdivides it into strata lots. Strata owners hold a leasehold interest in their lots rather than owning the land outright.
Buying a strata property in Perth can offer numerous benefits, including affordability, convenience, and a sense of community.
Understanding the different strata titles is essential when considering a strata property purchase, as each type comes with unique ownership rights and responsibilities. As Perth continues to grow and develop, strata properties remain a popular and attractive option for a wide range of homebuyers looking to enjoy the Western Australian lifestyle.