Buying a unit

Advantages

• Most units are more affordable than houses

• Smaller in size means less space to maintain and furnish

• Commonly found in metropolitan areas with convenient public transport and nearby shops

• Repairs to the building are shared between all owners

• Can have shared facilities such as a gym, pool and elevators

Disadvantages

• Older units or buildings can incur high maintenance costs

• Body corporates may limit the renovations and additions you can make

• Units may not have all the amenities prospective buyers want - multiple bathrooms, internal laundry, parking

• You may share walls with multiple other dwellings

• You will need to pay for strata insurance to insure common areas