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The cookies store information anonymously and assign a randomly generated number to identify unique visitors. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. Upkeep and maintenance: Costs are more fixed and managed by the Body Corporate or Homeowners Association. Rules: Read up on these before you buy. There may be a 'no pets' rule, for example, and there may be restrictions when it comes to renting, renovating or reselling.
In general, the more questions you ask, the more empowered you'll be to make the right choice. Ask the hard questions before you find that final fit.
That'll give you a real sense of the best type of property suited to you and your budget! The calculation result email has been sent. Please check your inbox. Learn Owning it What's the difference between buying a sectional title vs. What's the difference between buying a sectional title vs.
In this article:. Whether you're in search of a secure townhouse or a sprawling suburban home, here's a breakdown of all you need to know: Freehold title Sectional title Price: May have a hefty price tag. Management: You! Monthly costs: Insurance Levies, which usually cover: Municipal rates and taxes Security service Maintenance of common property and recreational areas e.
Wages of cleaning, security and other staff A compulsory reserve fund for the complex Security: Up to you! Community: Close-knit communities with loads of interaction. For kids, it can be a paradise! Freehold is a more traditional form of residential property ownership in which the owner is responsible for all the bills and maintenance of the property, including taxes, insurance, upkeep, security, electricity and water bills.
When you buy into a sectional title complex, you purchase a section or sections and an undivided share of the common property.
These are collectively known as units. Sectional title dwellings include detached houses, townhouses, flats or apartments. When you buy a sectional title property you are buying exclusive ownership of the unit or section that you have purchased, while at the same time becoming a joint owner of the common property of the development. The administration and maintenance of the common property is the responsibility of a Body Corporate, which consists of all the owners of the townhouse complex or apartment block, who then elect trustees to handle its day-to-day management,.
Depending on the type of property purchased, you may also be entitled to the exclusive use of a garden, parking space, storage facility and staff quarters.
Buy Rent. Include properties in neighbouring suburbs Select All Deselect All. Property Types.
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