Buying an apartment is exciting.
Thing is… Buyers often get carried away by the unit and overlook the building itself. Don’t make that mistake. The building is your purchase. A new kitchen won’t help when the common plumbing explodes.
The good news? You can learn so much about a building by simply touring it.
Let’s jump in.
What you’ll walk away knowing:
- Why The Building Matters More Than The Unit
- What The Common Areas Really Tell You
- The Building Health Checklist
- Questions To Ask Before You Buy
Why The Building Matters More Than The Unit
Buying an apartment doesn’t just mean you own your apartment. You own a share of the building, too. The roof. The lobby. The lifts. The car park. Every pipe in the building. If they break, you help pay for it. And maintenance bills can be horrifyingly high.
Data from a NSW government strata survey reveals that over half of all buildings registered since 2016 have at least one substantial defect. Remedying these issues cost owners corporations $331,829 on average per building.
The owner is liable for their share. Waterproofing and fire safety were the two leading issues. They are both latent defects. They are both expensive. Neither are visible from the balcony.
So the lesson is simple: Judge the building, not just the apartment.
What The Common Areas Really Tell You
Want to know the fastest way to size up a building?
Consider common areas. The lobby, hallways, stairwells and entrance. They are a report card on the management of the building. If these areas are clean and well maintained the owners are generally organised and money is being allocated appropriately.
What about when they’re not cared for? Big problem. Buyers decide quickly and first impressions matter because scratched up walls make you question what else was overlooked.
Regular lobby and foyer cleaning is one of the most obvious indications that a building is well maintained. When you walk into a building with a sparkling clean foyer you know the owners corporation is functioning, funded and have their eye on the ball. A dirty, dusty one covered in junk mail says something quite different. Buildings that keep this up tend to hire Professional Strata Cleaning Services to maintain their common areas and you can tell as soon as you walk in.
Here’s what to check in the common areas:
- The lobby and foyer — is it clean, tidy and free of clutter?
- Hallways and carpets — any stains, damage or lingering smells?
- Lighting — are bulbs working, or are there dark patches everywhere?
- Bins and rubbish areas — overflowing bins mean poor management.
None of this costs you anything to read. But it explains what no brochure will tell you.
The Building Health Checklist
Now let’s go deeper.
Common areas are one thing, but you also want to look at the skeleton of the building. That’s where the hidden costs are. Older buildings are key here. Buildings built before 2000 are more likely to require costly renovations to keep up with safety standards and general liveability.
Water Damage
Water ingress is by far the most common defect in Australian apartments. Check ceilings for water stains or bubbling paint, check for mould and a dank smell in corners. Check the ceiling of the car park as well, many times leaks reveal themselves here first.
The Lifts
Slow lifts that break down regularly are a bad sign. Find out how old they are and when they were last serviced. Lift replacement can cost an owners corporation a fortune.
Cracks And Structure
Fine hairline cracks are normal. Don’t stress. Longer cracks, cracks around doors/windows, gaps in facade may indicate larger problems. Document with photos. Ask questions.
Car Park And Storage
Walk around the carpark. Observe the condition of the concrete, the drainage and security gates. Often overlooked by buyers, it can tell you how well the building maintains the property.
Simple, right?
You don’t have to be a building inspector to spot these. You just have to pay attention and look.
Questions To Ask Before You Buy
You’ve walked the building. Now it’s time to ask the right questions.
The documents associated with a building can expose issues you’ll never see with the naked eye. It’s important than most purchasers realise, considering 85% of apartments built since 2000 have defects.
That number is huge. So you need to protect yourself.
Here are the key questions to ask:
- What’s in the strata report? This document lists defects, disputes and planned works.
- How much money is in the sinking fund? This is where large repairs are paid from. The larger the better.
- Will there be any special assessments? Special assessments are lump sum amounts paid by owners to cover the cost of large projects.
- What are strata fees currently? Low fees can indicate that the building is not saving enough money.
- Any history of defects or disputes? Ask directly and read the meeting minutes.
Don’t skip this part.
You can have a building that looks great but when you read the strata report it’s full of problems. Paperwork is where it’s at these days so read it or have someone else read it.
Bringing It All Together
Investing in your own apartment is a significant decision and the building you choose is just as important as the unit.
Fact is that a pretty apartment in a poorly managed building is going to cost you dollars, anxiety and headaches in the future. But if you take the time to really look at the building you’re protecting your investment and your sanity.
- Look past the unit and judge the whole building
- Inspect the common areas — clean foyers signal good management
- Run through the building health checklist for hidden defects
- Ask the tough questions and read the strata paperwork
Don’t forget that the common areas will tell you nearly all you need to know. If the lobby and foyer are clean and neat, the building gets taken care of, is financed and managed well. If it’s sloppy, that’s your hint to walk away.
Do the work upfront and inspect properly. It’s far cheaper than fixing regrets later.
