› Flat Chat Strata Forum › Buying and Selling › Is it OK to buy an old unit? › Current Page
Older units can be great value – they are often better constructed than some of the modern “affordable luxury” (whatever that is?) units and have added value because they are in established communities.
Get your solicitor to do all your searches thoroughly to make sure there are no surprises around the corner in terms of special levies or essential work that has been delayed. Pay particular attention to the sinking fund – it should have enough money in it but it should also have been used appropriately for repairs and maintenance – and check the minutes of the EC to make sure there are no other problems in the building.
If you do all that and all the boxes are ticked, older buildings are less of a gamble than off-the-plan purchases.
And don't be put off by all the discussions on this forum – the hundreds of thousands of people who are happy in strata tend not to write websites like this. And when things do go wrong, then we're all here to offer help and advice.