Risks and Benefits of Buying a 1960s Unit?

Discussion in 'What to buy' started by NoobieProp, 24th Sep, 2021.

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  1. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    Yes, it's the fund they dip into for repairs, etc.
     
  2. NoobieProp

    NoobieProp Active Member

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    Cool thanks!

    I have like 100 pages of minutes to read with the minutes...is there anything I should keep in mind?

    I did notice there was some information around the concrete cancer point (although it mentioned not definitive and called it 'drummy areas') you mentioned before. This is my first ever strata report read and it's much more detailed than I thought. There are a lot of mentions of cracks and other problems but apparently, this is 'fair for its age' according to the report.
     
  3. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    9th Jul, 2015
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    Location:
    Perth
    Look for major repairs that are in the works as these sometimes attract "special levies" (if sinking/capital fund is low) that need to be paid above and beyond normal quarterly strata levies.