Why You Should Consider Living in A Strata Community?

Since community living and shared costs are a more affordable and attractive option, strata community living is starting to become a well-liked alternative when purchasing real estate. This can make living in a state the community and appealing option for many people not only because it is more economical but there are communal amenities that are well maintained for the usage of all tenants.

When buying any kind of property, since it is going to be an expensive investment, decision-making is frequently thorough and well thought out before deciding on the specific property and whether it is a good choice or not. This is the same when considering living in a strata community. All the reasons why this is a better alternative for you are listed below for your information and reference.

Lower cost of purchase

It has already been established that strata titles are a more economical option to enter the real estate market since the shared cost of facilities is generally lower than purchasing a nonstarter freehold title property. This is the best option for those who are still dipping their toe in real estate properties investments.

Living within a community

Another appealing option to living in the strata community is the feeling of getting to know and socializing with their neighbours. This is particularly beneficial to those who are living alone. If this is why you are considering living in a strata community, just make sure that you choose a community where you won’t have any problems. So, even if you socialize with your neighbours in their characters have been vetted by the strata management team. Choose a well-established community such as SELECT Strata Communities.

Communities also have common amenities such as swimming pools, barbecue pits and gyms. As such, you would not have to leave the community whenever you needed to exercise or to swim a lap.

Shared utilities expenses

Another reason why living in a strata community is more affordable is because of the shared utilities expenses. Payment for general repairs and insurance are also split among all owners this implies that if it will be compared to non-starter freehold homes people will now be able to afford higher quality housing or they could choose to reside in a safer, desirable neighbourhood.

Strata fees are categorized into two types, number one is the administrative such as cleaning, pest control, maintenance and other costs. The other type is a sinking fund or reserve, set aside for long-term future spending on significant and costlier repairs or upgrades.

Although strata title is more affordable than freehold title because of the lower purchase costs and split maintenance costs, it is important to remember that it is a shared property, and it is essential to be able to get along with all the neighbours and other tenants living in the property. Additionally, there are certain strata rules and financial obligations that must be strictly adhered to, to ensure peaceful and happy community living.