Purchasing an apartment do's and dont's

Discussion in 'What to buy' started by TopCat, 1st Aug, 2021.

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  1. TopCat

    TopCat Well-Known Member

    Joined:
    19th Feb, 2017
    Posts:
    71
    Location:
    Melbourne
    How does someone go about purchasing an apartment?

    There are some that are on the market, with current rental agreements.

    Easy to findout about management costs (strata) and working out price (purchase & agent rental costs & apartment management) V's rental return?

    Totally new to me, only dealt with homes.
     
    TopCat, 1st Aug, 2021
    #1
  2. boganfromlogan

    boganfromlogan Well-Known Member

    Joined:
    10th Jan, 2017
    Posts:
    3,332
    Location:
    Brisbane
    Don't
     
    boganfromlogan, 1st Aug, 2021
    #2
    craigc and The Y-man like this.
  3. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    13,590
    Location:
    Melbourne

    Future repairs needed, maintenance requirements (which may be seriously delayed when some owners baulk), pets (as in people having them), recalcitrant owners who cause trouble for everyone else, 3-D problems (this is what I call them now, as you can have problems next to you, above you and below you.

    We have had major delays getting some serious plumbing issues fixed. As the tradies need to access multiple apartments, they could not access the apartment where the fault was, because it wasn't causing the occupants of that unit any issue. In the meantime, our apartment was getting wet carpets, wall damage etc... tenant had to leave....



    The Y-man
     
    The Y-man, 1st Aug, 2021
    #3
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