Aug 28, 2014 5:07 pm
My husband and enquired about a lot in a new estate in Brisbane and amongst all the info, was told that there are body corporate fees. Mind you, they're low at $15 per week (I've heard $50 per week being thrown around for other places) but I've never heard of BC fees for housing land. I thought it was just a townhouse/unit/gated complexes thing...
What are the advantages? I've heard of none. Every time I mention it to people, I get advised to not go with it.
We've decided to not apply for the lot we had our heart set on since we just don't know enough about the consequences of owning land that has BC fees....
Can anyone shed some light on the subject?
Re: Body corporate questions. Worth avoiding?2
Aug 28, 2014 5:48 pm
I used to have an investment property with a Body Corporate, sometimes called a Community Title Development.
As well as the ongoing fees you are expected to go to Body corporate meetings to listen to people whinging, about parking, noise, what people are doing to their properties etc etc .
Generally the reason developers go for these developments are so they can get away with a lower standard of infrastructure, which can cause problems such as inadequate parking.
I've written quite a bit more on my blog at http://www.anewhouse.com.au/2012/02/community-title/
The Harder You Try - the Luckier You Get !
Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house.
Re: Body corporate questions. Worth avoiding?3
Aug 28, 2014 8:44 pm
One benefit of body corporate is that you know the properties will be maintained, grass cut and generally kept clean.
In a block of units, it will also stop people from changing their facades and changing colours. It keeps them all looking similar.
I'd hate to buy a unit in a development to find a neighbour painted their place purple or something
Re: Body corporate questions. Worth avoiding?4
Aug 29, 2014 12:19 pm
Thanks for that guys.
I'm not fully sold on it. Since I'm a first home buyer, I really couldn't care less what my neighbours look like (since I've obviously never had a bad experience with it), or that there are facilities available. And I especially don't want to attend meetings! I have enough of those!
I think for people like us, this kind of thing wouldn't be worth it. We've put an offer on a freehold block right next to all the body corporate blocks so if we get it, it's win/win. No fees and pretty neighbours haha. That being said, they won't have to worry about us either. There's no way I'd have a purple house
Thanks again for the info guys. I really wanted to make sure before we put an offer on a block and then paid fees for nothing (nothing to do with our priorities anyway).
Re: Body corporate questions. Worth avoiding?5
Aug 29, 2014 8:32 pm
Mel are you serious you couldn't care less what your neighbours look like? You'd find it easy to find a place to buy as investment then.
I more made the comment because for if you doing it for investment purposes then you have to ask yourself two questions.
a. Am I buying for rental return
b. am I buying for capital growth
If buying for capital growth then you want an attractive area close to all amenities. Generally run down areas will attract a poor demographic and hence lower house prices.
Anyway food for thought
Re: Body corporate questions. Worth avoiding?6
Aug 29, 2014 8:57 pm
Our first home was a townhouse - owners corp applies. We had not had pleasant experience with the whole thing. We got keys and started moving things in over a week. Garage is tiny so sometimes we parked in visitors parking maybe an hour max. Moved in Saturday night after our wedding reception. That Monday we received a rude awakening in the letter. Someone had complained we were constantly parked in visitors parking which was untrue. We were barely there during the week! Lol. A few neighbours down the back has teenagers. Their parties usually means people all over the common areas late at night talking and playing with cars and engines. We also had some inconsiderate teenagers sit on our driveway talking till 2 or 3 am drinking beers which they conveniently left on our driveway for us to remove.
One of residents started parking her car day and night weekdays and weekends for about a year or so and body corporate pretty much like yeah well send a letter but what are we gonna do about it... useless!
If u don't think something is needed like one of them wanted to chop down a tree near the side of their house needed a vote from other units and also it was on common downs so it meant for them to remove it meant we all had to pay a share.. wtf!
Im using it as investment now but would never buy ever again. Too much hassles ill run far away!
Re: Body corporate questions. Worth avoiding?7
Aug 29, 2014 9:28 pm
Hi Crazyk, yeah, believe it or not, could not care less. We are certainly not in a position for an investment home, we just want a home so we can start a family.
I think the only kind of situation where we would care is if the place next door was super loud or if they stank or if their garden impeded upon or property.
I completely understand why someone looking for an investment property would care about the look of the neighbourhood now but humble, average first buyers like us maybe later in life.
And Pearz I totally feel your pain with annoying teenage neighbours. We used to rent a townhouse with some young people who had parties and all their friends would even park in tenant alloyed parking! When we had gatherings, we always advised everyone to park on the street so as not to get in the way of our neighbours. Not only that, they used their garage to store their hot tub and since they then had nowhere to park their car, they parked in our spot!
Not really body corporate related, just having a rant haha but thanks for sharing. Just confirming my suspicions that it's not worth it (at least for me and my husband anyway)
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