Get ad­vice about strata ti­tle

Money Magazine Australia - - PROPERTY | DEVELOPING -

You may well have the op­tion to have both dwellings sit on top of one an­other and share some com­mon fa­cil­i­ties, such as a drive­way, an area for park­ing, a pool or a laun­dry. In this sce­nario, each dwelling would be separately ti­tled, and there would also be a new ti­tle for the com­mon prop­erty that you and your new neigh­bours would share. You and the owner of the sec­ond lot would then be­come mem­bers of an owner’s cor­po­ra­tion.

Anthea Di­gia­ris, an as­so­ciate ac­cred­ited spe­cial­ist in prop­erty law at Slater and Gor­don, says that although you might be in­ter­ested in go­ing the strata route, it will ul­ti­mately de­pend on your zon­ing re­stric­tions and whether it will be ap­pro­pri­ate in your area.

“You need to get plan­ning ad­vice from a town plan­ner or ar­chi­tect to work out whether this type of de­vel­op­ment is right for your par­tic­u­lar par­cel of land,” she says.

“You need to look at the lo­cal coun­cil’s zon­ing re­quire­ments and see what’s hap­pen­ing with the other neigh­bours in your street. You have to work out whether it’s in an area that this type of de­vel­op­ment will be wel­comed or whether you’re go­ing to have prob­lems.”

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