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Tips for buying your first apartment

by Dion Besser
November 16, 2014 | 10 minute read

So you’re buying your first apartment and joining the hundreds of other singles, couples and families around Australia in community living. What do you need to know?
Buying a strata or community title property is different to buying a house. The first thing to remember is that you’re buying air space.The bricks and mortar are owned by the collective of owners, which depending on the relevant state laws is referred to as the owners corporation, body corporate, strata company or community association.

We’re going to refer to it as the strata scheme.

As an owner you automatically become part of the strata scheme and have certain rights as well as responsibilities.

Community living means living by a set of rules that make it fair for everyone.

Make sure you get a copy of the by-laws and that there are no rules you could not live by. You don’t want to move in with your pet only to find out the building is not pet-friendly. Don’t go in thinking you can change minds on Fluffy or Fido moving in as it will probably only end in Tribunals and lawyers.

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