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Strata Title and No strata fees??? (noob questions)

Discussion in 'Property Management' started by Shikari, 19th Jun, 2015.

  1. Shikari

    Shikari Member

    Joined:
    19th Jun, 2015
    Posts:
    5
    Location:
    Sydney, NSW
    I was looking at this 25 year old house that I could possibly afford as a first time house buyer and I was told that its under strata title. What's the difference between strata and torrens title? Like, I get that torrens is full ownership of the lot and its contents and strata involves shared stuff like roofs, driveways and gardens etc. But i was under the impression that this is for apartment's only? I don't get what there would be to share (or who witho_O) on a lot in the middle of nowhere with no tenants.

    About the house, its a small run-down in need of reno corner block with two driveways from two streets -there's a bunch of street signs around the property and shrubbery hugging the fences along the outside. I was told I would have no strata fees so I'm confused about what this all means and the difference between buying this versus a similar property under torrens title?

    Sorry for noob questions
     
  2. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    Is it a totally free standing house? Are there other houses close by?
    I would keep looking for another place unless it's an amazing bargain.
     
  3. Pistonbroke

    Pistonbroke Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    395
    Location:
    Guangzhou
    The lot was probably too small for Torrens Title subdivision under the LEP. The developer took a punt & created 3 lots including common property.
     
  4. Be Developer

    Be Developer Property Developer Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,078
    Location:
    Australia
    @Shikari

    as you said, you have will common roof and party wall.

    there are plenty small starta subdivisions!

    such lots are good, as you will have none to min strata fees. (except building insurance, water and council)