Not 100% sure if this is the right place to ask the question, let me know if I should move it across if needed. Currently looking at buying my first IP, with the thought of potentially moving into it later in like 5-10 years. The main reason behind buying the property is the land (~650 sqm) and location. Unfortunately, it is sitting behind a monstrosity of a house and the house I am looking at is currently is a pretty run-down 3x1 that does not take up much of the land (good). However, I am having second thoughts as it is strata, we thought it was survey strata. The house in front seems to have had a lot of work done on it and an additional storey added on, however is it a bad idea buying a strata property if we intend to potentially extend the home and undertake various renovations in the future? I.e. having to ask permission from the front residents if we actually want to make any changes. If anyone has had any experience with such properties that would be really great and any knowledge that could be passed on would be really appreciated, as I am not sure if this is a trap or not.
Hard to say for sure if it is a "bad idea" or not as it will come down to the human equation at the time of your decision. If the front owners live there then have a chat to them and see how they feel about your future plans. If it is an investment then find out who the owner is via a search and discuss your plans. Either way it would be highly recommended to get some legal advice before you proceed. Happy to give an excellent recommendation if the property is located in WA.
Hi Colin, Thanks a lot for the info and reply. If you could Messge me or post your recommendation that would be really appreciated. Cheers
