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INVESTOR INTELLIGENCE
Disadvantages : Sectional title comes with Body Corporate rules governing everything from exterior aesthetics to noise levels . You ' re financially responsible for the Body Corporate ' s debts and potential shortfalls . Living in close quarters with neighbours can have its drawbacks , particularly if noise or privacy is a concern .
Freehold ownership Freehold ownership grants you complete ownership of the land and everything built on it , offering greater autonomy and control over your property .
Advantages : Unless your home is part of a development with a homeowners ' association , you have the freedom to renovate and alter your property as desired , subject to municipal regulations . Freehold homes generally offer more privacy . It is also generally easier to enjoy the companionship of pets in a freehold home .
Disadvantages : You ' re solely responsible for rates , taxes and insurance , as well as all maintenance , repairs , and improvements to the property , which can be costly and timeconsuming . The condition of your neighbours ' properties can impact your property value . Freehold properties generally require more individual security measures compared to secure complexes .
By carefully considering your priorities – from the desired level of control to the cost and responsibilities of maintenance – you can choose the ownership structure that best aligns with your long-term goals and lifestyle .
Informed Decisions The decision to rent or buy ultimately rests with you . Do your research and make choices that are aligned with your specific life situation , but keep your long-term goals in mind always . Consulting a trusted property advisor with expertise in both buying and renting will help you make an informed decision that sets you on the right path towards your housing goals .
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Real Estate Investor Magazine MAY 2024 59