Have you heard about the major changes to home building laws that commenced during the first quarter of 2015?
For example, you may know that building work contracts require a different amount of detail depending on the value of the work, but the threshold has now changed. Work valued at more than $20,000 (previously $5,000) will require an extended contract, while work below the threshold will only require a ‘minor works’ contract. more
That heading may sound like obvious advice, but buyers often don’t realise that if they exchange contracts under their personal names and then want to have the property in a company name, it will cost a substantial amount of money to change it. Double the stamp duty in fact! more
SHOULD YOU INSPECT THE STRATA RECORDS?
When you buy a unit or strata titled townhouse, you take on certain obligations. To protect yourself from any unforeseen expenses, make sure you conduct an inspection of the strata records before you commit to buying. This is even more important with older buildings. It is recommended to check the following points to find out how well the building has been managed. more