Why be asset rich but money poor? Why not sell and improve strata common area to pay for building repairs. Win Win.
Innovative strata apartment owners are on the lookout for new ways to maximise their investment and discovering that the strata common property is the next gold mine. This is how they are making and saving money out of thin air.
Sassy apartment owners working with Next Level Sydney are doing just that. Next Level Sydney has been long-term strata property development specialists within the Eastern Suburbs of Sydney. Specialising is converting drab old red brick building into a recently renovated fabulous modern apartment block.
The goal is to use the value of the common area to redevelop old worn-down apartment blocks close to the coast. Every square metre can be worth between $18,000 to $25,000 with views. Just ask any Real Estate Agent.
What these apartment complexes are achieved, and what they are proposing with the redevelopment, is nothing short of remarkable.
Apartment owners are drawing up plans to convert wasted, unusable space into bedrooms, bathrooms, private balconies/gardens, and parking. Its future-proofing their complex in a highly effective way.
Most apartment blocks have wasted common space connected to living areas apartment, gives owners the opportunity to redevelop the space and add it to their title while using the sale of the space to upgrade the building. It is a win win.
The revenue from the sale will be used to improve the common property to add more value to the complex, therefore increasing the value to all owners and making the property a more pleasant place to live.
In an area where space is limited and at a premium, making better use of underutilised space could be a game changer for your strata complex.
To take your plans to the next level, you will need effective, innovative strata development experience to guide you on the legal and compliance requirements.
Have questions about selling common area?
If you would like to explore the possibility, contact Warren Livesey for an obligation-free chat on 0415 254 420 or warren@buyairspace.com.au. Warren can assist with everything from design to construction, using his vast knowledge and 20+ years of experience. #buyairspace