Survey Strata vs Built Strata In Perth: Do you know the difference?
In the world of property ownership in Western Australia, understanding the nuances between survey strata and built strata can significantly influence investment decisions and day-to-day living.
For prospective property owners and investors in Perth, here’s a guide to unravelling these two prevalent forms of strata titles and how each could impact your property ownership experience.
Survey strata: Defining land ownership
Survey strata properties are defined by precise land boundaries surveyed by licensed land surveyors. Unlike built strata, survey strata plans focus primarily on the land itself without necessarily including buildings within the plan. This form of strata is particularly appealing for those looking for clarity in the extent of their property ownership, as it details the exact borders of the land owned.
Built strata: Embracing structure and space
Built strata, the traditional form of strata titles in WA, varies based on the date of establishment, particularly before and after June 30, 1985. Initially, built strata lots were confined to the interior spaces of buildings, such as apartments or offices. Post-1985 reforms expanded this definition to include associated external land, potentially encompassing gardens, parking lots, and even the exterior structures of the buildings.
Navigating ownership and responsibilities
Regardless of the type of strata, understanding what you own outright versus what you share with others is vital. For built strata owners, this might mean knowing whether external areas like car parks or courtyards are privately owned or part of the common property. Due to the emphasis on surveyed land boundaries, survey strata owners will generally find this distinction clearer.
The role of strata plans and by-laws
Every strata title has a plan outlining ownership details and by-laws governing what owners can and cannot do with their property. These by-laws might regulate alterations to the exterior of buildings, usage of common areas, and even minor details like the placement of clotheslines or satellite dishes. Understanding these rules before purchasing a strata-titled property is essential for avoiding future conflicts and ensuring that your living environment aligns with your expectations.
Strategic considerations for investors and residents
Choosing between survey strata and built strata involves considering your priorities, such as the importance of clearly defined land ownership versus the benefits of comprehensive property inclusion (including buildings and land). Investors, in particular, need to weigh these options against potential rental yields, maintenance responsibilities, and the demographic appeal of the property type.
Oakfield’s commitment to clarity in strata living
At Oakfield, we understand that navigating the complexities of strata titles can be daunting. Whether you are a first-time homebuyer or a seasoned investor, our team is dedicated to providing expert guidance and management services that simplify strata living. We ensure that clients are well-informed about their ownership rights, responsibilities, and the community dynamics of their chosen strata property.
Interested in a strata property in Perth? Contact Oakfield today
If you’re considering a strata property in Perth, let Oakfield help you make an informed decision that aligns with your lifestyle and investment goals. Contact us today to explore how we can assist you in navigating the intricacies of survey strata and built strata properties, ensuring a seamless and rewarding property ownership experience.