Guest ozdreamsa

Advice on buying properties

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    Guest ozdreamsa

    Hi

     

    I have been trying to research on buying property is Adelaide and to tell you the truth, I have no clue about buying any relaestate. Is there any place/ website where I can find more on Australian laws on land/apartment/house, insurance, phrases used on real estate etc?

     

    Just to give you guys an idea, I would like to know if I buy an apartment, do I get a share on the land that it is built? How many years can someone expect to live in the same apartment? Is there any insurance covered for apartment if it is destroyed by earthquake/ fire?

    If someone have a house on a big land (i.e. 600 sqm), can he split that land and sell half? What is the difference between townhouse, unit etc?

     

    I am willing to learn all the details but cannot find the right place. Any idea or help? Plz..

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    Have a look here

     

    http://www.legislation.sa.gov.au/LZ/C/A/STRATA TITLES ACT 1988/CURRENT/1988.13.UN.PDF these type of developments have a strata insurance that you would have to ask the details but you also get your own insurance as well.

     

    Also as to subdiving a block of land you should not have a problem if the land is approx 600m2 or more also depending on the frontage, some council require minimum 18m frontage but i have seen smaller get through.

    have a look here

     

    http://onkaparingacity.com/onka/living_here/planning_development.jsp

     

    Townhouse has multiple levels, unit is ground floor level

     

    I hope this helps.

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    Guest ozdreamsa

    @csobrien1966: Thank you so much, this help really means a lot to me as I am planning to buy my first property in Adelaide.

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    Guest NatKat

    Also as to subdiving a block of land you should not have a problem if the land is approx 600m2 or more also depending on the frontage, some council require minimum 18m frontage but i have seen smaller get through.

     

     

     

    Hi, in my personal experience (5 yrs working in admin for a builder) it is not always that easy to subdivide blocks - each Council has its own development plan with different requirements for different areas depending on the zoning of the area containing the block. You can contact the relevant Council with the particular identification of the block (obtained from the Land Titles Office for around $10 from memory) and they (Council) can advise you whether or not it meets the requirements for subdivision. It is important to know the identification of the block as the street address is not usually sufficient. In 99% of cases the price of the block will reflect its redevelopment potential.

     

    Hope this helps

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    Guest ozdreamsa

    Thank you NatKat, I will definitely check with the council b4 any purchase

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