How could a strata loan help you?
Because you pay it off over a longer period, obviously, on a reducing balance over a 10-year period. Some people simply can’t lay their hands on a lazy $80-100k in one hit. The problem is that the law doesn’t allow the strata owners to choose – it’s either all special levy or all loan. That’s what really sucks. People who can afford it should be allowed to pay their share up front, the others could pay off a smaller loan – if the law allowed it.
Or do you think people should be forced to sell their homes if they can’t afford a special levy?