The Ultimate Guide to Buying in Strata
Ditch the confusion of strata reports!
Our expert endorsed guide simplifies the process, safeguarding you from making costly mistakes!
See what’s inside
The best ways to spot red flags in a strata report
30+ real world examples
The most common mistakes people make when reading strata reports
How to decide if this is the right purchase for you
How to predict the future levies & additional costs
And much more…
Navigating Strata Reports with Confidence
How to spot red flags
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Who should read this book? Why should I read it?
Worried you might be buying an apartment that is going to cost you a fortune in levies?
Are you looking for certainty about the risks and issues you are buying into?
Can’t quite put your finger on what is happening with the strata scheme?
Do you want to increase your confidence about understanding financial statements and levy contributions?
Looking for an easier way to understand all the information contained in the strata report?
Do you want to understand what control the strata has over you and your property?
Penny Vandenhurk
Penny Vandenhurk is a qualified NSW Property Lawyer turned Buyer’s Agent. Penny specialised in Property Law for a number of years and has read hundreds of NSW strata reports over the last 15 years.
Penny created this guide to help people better understand what they are buying into when purchasing an apartment or unit. It is written with a practical lens to help you balance the financial and legal considerations of buying into strata.
FAQs
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Absolutely I would recommend this. Your lawyer or conveyancer can give you specific advice about the report. They can assist you to evaluate the risks. However, they are not licenced financial advisors and cannot provide you financial advice.
This is where our guide is designed to assist you.
Ultimately, you are the only person in this transaction who understands what is important to you, and your financial risk appetite.
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This will vary. Some lawyers/conveyancers will include this service in your overall fee. Others may charge a set fee per strata report review. Others may not offer this service at all.
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When buying property, you are the only person who can fully understand the financial impact and risks. You are the person who needs to make an informed decision if this is the right property for you. You need to be comfortable with this decision.
Our guide is designed to help you make this decision.
Absolutely you should take legal advice from your lawyer, but your lawyer cannot give you financial advice.
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There are further details on all the options you have included in our guide. Different options have different risks and costs associated.
Usually the best place to start is by asking the sales agent of the property you are interested in.
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Strata reports vary in length. Typically they are a minimum 100 pages, and some may even reach over 2,000 pages. On average, in Sydney, a strata report will be 200-300 pages.
There is a lot of information included in the report. Our guide is designed to help you understand what information should be there, and how to interpret that information.