Strata living: What you need to know

We’ve designed Woodside Bundanoon to be a community within a community. Our committed group of professionals wanted to provide an opportunity for locals to downsize without having to move away from the area and community they call home. Strata living is the ideal option for active retirees, giving you all the freedom to continue your active, connected lifestyle without compromising on the comforts and connections that you’ve come to love. So what are the benefits of this style of home ownership?

What is strata title property?

For many retirees downsizing from the family home, the strata set-up is a new arrangement. According to McGrath, buying strata is different from buying a house – which includes the purchase of the land title or the entire block of land. “If you buy a property that is part of a strata title, you not only own the unit, apartment or townhouse (called the lot), but you also share the ownership of what’s called ‘common property’ which includes areas like foyers, lifts, fences, gardens and swimming pools. These areas are the shared responsibility of all property owners of the building.”

What does that mean for Woodside Bundanoon owners?

Buying a strata title as part of Woodside Bundanoon means you own your home. You’ll also share ownership of:

• the communal green space
• landscaped gardens and nature strip
• garden path that winds through the complex
• community garden and more

What are my responsibilities?

As a strata-title owner at Woodside Bundanoon, you become part of the owners corporation, which is responsible for managing the common property and overseeing the strata scheme.

Owners contribute through strata levies towards maintenance, insurance and the upkeep of common areas. You’ll also have the opportunity to participate in decisions affecting the community, including maintenance, improvements and financial management.

What are the benefits of strata living?

At Woodside, we value ease, independence and connection. All the homes are low-maintenance; external repairs will be taken care of by the strata manager via the body corporate and paid for by the strata fees.

Further, the thoughtfully designed and landscaped common areas will be kept to the highest standards – the village roads and signs, gardens, outdoor entertainment areas and all the natural features that make Woodside Bundanoon so special will be well taken care of, while you get on with living your best life.

We expect that Woodside will become a community within a community. You’ll have the chance to get to know your neighbours, and be actively involved in the running of the community (if you’d like to).

Of course having neighbours close by is also a great comfort for many, especially if they live alone or have partners who travel.

More information about strata title living

Understanding the different ownership structures available in over-55s communities is an important part of making an informed decision.

At Woodside Bundanoon, we’re happy to talk you through our strata-title ownership structure, what’s included and how it compares with other retirement living options.

Whether you’re actively looking to downsize or simply exploring your options, please get in touch with Sally on 0474 348 573 to discuss any questions or arrange a visit to Woodside.

For independent information about purchasing a strata-title property, the NSW Government also provides helpful resources. You can learn more about buying a strata property here.