Buying into a strata scheme — whether it's an apartment, townhouse, or villa — comes with unique considerations that don't apply to freestanding houses.
The strata report is your most important document. It reveals the financial health of the owners corporation, any planned special levies, ongoing disputes, building defects, and the sinking fund balance. A well-managed building with healthy finances is worth more than one with deferred maintenance and looming special levies.
Pay attention to by-laws too — they govern everything from pet ownership to renovation approvals. And check the strata fees relative to what's included. Higher fees aren't necessarily bad if they cover comprehensive building insurance, maintenance, and amenities. Low fees can sometimes indicate deferred maintenance.