The PROPERTY DOCTORS, Sydney Australia Novak Properties
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The PROPERTY DOCTORS, Sydney Australia Novak Properties
EP. 1697 - WHY ARE MY STRATA LEVIES SO EXPENSIVE?
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💰 Why have strata levies increased so much?
Many buyers see higher strata fees and immediately think they're paying too much. But here's what those levies actually cover:
🏢 Building insurance
🧹 Cleaning & maintenance
🌿 Gardening
🔥 Fire compliance
💡 Common area electricity
🔧 Repairs & maintenance
🏗️ Capital works fund for future building upgrades
Over the past 20 years, the cost of running apartment buildings has increased dramatically. Building insurance, maintenance, compliance, and utilities have all become significantly more expensive, which is flowing through to strata levies.
The key takeaway? Don't judge a property on the strata levy alone.
A well-managed building with healthy finances can be a far better investment than a cheaper building with deferred maintenance or inadequate sinking funds.
And if you're comparing a unit to a house as an investment, remember there are costs on both sides. Houses may avoid strata, but ongoing expenses like land tax, insurance, and maintenance can add up quickly too.
✅ Look beyond the quarterly levy.
✅ Understand what's included.
✅ Run the numbers before making a decision.
Have questions about buying or selling strata property? We'd be happy to help.
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