To Strata or not to Strata… Have you ever wondered if it’s the right fit for you?
Buying a home can be a confusing process, with so many options to choose from, its hard to know what is going to be a good fit for you. One of the first things you will need to decide on is whether you are looking for a freehold or strata property. There are a few key points to consider when making this choice.
- How much control do you want? Strata’s are run by a Board of Directors and governed by a long list of Bylaws. These bylaws control the use of the property (among other things) including inside your own home like pets, rentals, smoking and what is allowed on your exterior walls and windows.
- Maintenance: The common areas (lawns, hallways, safety systems etc.) of Strata properties are maintained by contractors and generally do not require much upkeep from the owners.
- Easily budgeted for: Each Strata will have monthly strata fees for each unit to pay. This is a set amount that will usually...