I agree with PeterC’s comments.
What if you get a loan for works in your complex. You get the work done. Then something unexpected comes up 6 months later. You have little money in the bank thats why you got the loan in the first place. So now you have to get another loan? That is exactly why so many people are in personal debt. They dont have the money, they put it on plastic/get a loan. Then something else comes up. Put that on plastic/get a loan. And so it goes.
If levies are expected then people can plan and budget for them. In this complex owners said they would prefer lower levies that increased slightly over the years, and special levy to top up the coffers should any major works need attending to. A loan would be our last option. Quite frankly for me strata finance should be like personal finance – if you dont have the money then maybe you cant afford it. There are alot of home owners out there who could learn from strata levies and put money aside each quarter for repairs/maintenance.
We have only had one special levy here to correct faults in the complex that the builder refused to fix under warranty. We spread the levy over a few quarters to ease the pain. We already had enough money to cover the works immediately. The levy was to top up the bank account after this unexpected expense. Would prefer to go down this path again. A loan should always be a last resort. A spreadsheet doesn’t allow for variables in real life.