Advantages and Disadvantages of Sectional-title Ownership

Question 1

What is the 1st advantage of buying a sectional-title house?

Answer 1

• the buyer is the legal owner of the property

Question 2

What is the 2nd advantage of buying a sectional-title house?

Answer 2

• the owner can make changes to the interior of their property

Question 3

What is the 3rd advantage of buying a sectional-title house?

Answer 3

• the owner has a sense of security and independence
• because the property can be used as security for a bank loan

Question 4

What is the 4th advantage of buying a sectional-title house?

Answer 4

• it is a sound investment
• because the value of property increases over time

Question 5

What is the 5th advantage of buying a sectional-title house?

Answer 5

• living in a complex could be safer than living in a freestanding house

Question 6

What is the 6th advantage of buying a sectional-title house?

Answer 6

• the owner can make use of all the common areas of the complex

Question 7

What is the 7th advantage of buying a sectional-title house?

Answer 7

• the owner has less administration to do
• because the body corporate administers the complex

Question 8

What is the 1st disadvantage of buying a sectional-title house?

Answer 8

• the owner must pay a levy every month

Question 9

What is the 2nd disadvantage of buying a sectional-title house?

Answer 9

• the levy usually increases every year

Question 10

What is the 3rd disadvantage of buying a sectional-title house?

Answer 10

• the owner must share the common areas with all other owners

Question 11

What is the 4th disadvantage of buying a sectional-title house?

Answer 11

• owner must obtain permission from the body corporate before making changes to the exterior of their property

Question 12

What is the 5th disadvantage of buying a sectional-title house?

Answer 12

• bond repayment could be a large part of your monthly income

Question 13

What is the 6th disadvantage of buying a sectional-title house?

Answer 13

• it could be difficult to sell the property
• should the owner need to move unexpectedly