Purchasing Strata Property

A strata scheme is a building (or collection of buildings) where individuals each own a small portion (called a Lot) and where there is also common property (such as external walls, windows, roof, driveways, etc.) which every owner shares.
Before purchasing a strata title property you should be aware of the following issues:

• What would I actually own in a strata scheme?
• Owners corporation and executive committee
• What are levies?
• Are there any meetings I would have to attend?
• What are the by-laws/lifestyle restrictions?
• What should I do before signing a contract?
• Buying ‘off the plan’
• The contract
• Insurance

For the answers to these questions, see the Office of Fair Trading. ..home_owners/Buying_property.
For Strata living generally:
..home_owners/Strata_schemes.html