Perth Buy, common wall duplex.

Discussion in 'Investment Strategy' started by Mark Hkg, 13th Jan, 2020.

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  1. Mark Hkg

    Mark Hkg Member

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    5th Jul, 2018
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    Australia
    Hi Everyone,

    Looking at purchasing a duplex. It my first time looking/buying an IP which is a duplex that was a old house which was converted into 2 duplexes.The place shares a common wall and roof and I’d like to know any tips and catches to buying a place like this. It’s on a large parcel of land but is it easy to build/renovate the existing building which doesn’t have accessibly to the garden/back of the block? Legally are their any common fees or insurances I’d have to pay?

    I’ve attached some photos, any help would be greatly appreciated.
     

    Attached Files:

  2. thatbum

    thatbum Well-Known Member

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    Have you looked at the strata plan and figured out what type of strata it is?

    And also what is common property, lot owned property, or areas subject to exclusive use via bylaws?

    That will tell you a lot.
     
  3. Kent Cliffe

    Kent Cliffe Well-Known Member

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    Perth
    It's hard to tell without knowing if it is built strata or survey strata. But my money is on it being built strata based on the photo and history around the conversion.

    It is not easy to add building extensions to built strata because:
    • You need consent from the adjoining strata owner;
    • Extra building area changes the unit entitlement (underling % of land you own / % of fees attached to the strata which you would pay); and
    • Costs of getting the strata re-done once you've completed the extensions.
    It's common to share building insurance (including public liability of the common area).
     
  4. Mark Hkg

    Mark Hkg Member

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    Hi, how do I get information on the type of strata it is?
     
  5. Mark Hkg

    Mark Hkg Member

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    Hi Kent, How do I find out if its Strata or survey strata?
     
  6. Shogun

    Shogun Well-Known Member

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  7. Kent Cliffe

    Kent Cliffe Well-Known Member

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    Once you buy the title from here, it will say either Strata Plan (SP) or Survey Strata (SS)