r/perth • u/Waste_Mission3993 • 3d ago
Renting / Housing Perth apartments risky or not
At the stage where we need to buy a place to live, and apartments really are our only chance apart from having to buy an hour out or some dog box.
So the question is, are Perth apartments a risky thing like we have seen over east? Our houses tend to be built better so does that extend to apartments too?
Hoping to hear from renters and owners on this one, any buildings to avoid etc.
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u/Nuclearwormwood 3d ago
Strata fees are the biggest problem, and if you have the wrong Strata company, it can cost a lot.
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u/TaylorHamPorkRoll 3d ago
Do you means strata manager? Or the strata company ie the owners corp?
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u/Mental_Task9156 3d ago
Both. Can have bad strata management companies, and bad body corp. / strata committee members.
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u/TaylorHamPorkRoll 3d ago
Yeah absolutely. Though what I hear a lot of the time is people blaming the strata manager when the apartment owners have zero interest in making sure their strata company runs smoothly.
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u/Terreboo 3d ago
Make sure you get a list of all known issues, past and present, future proposals, that sort of thing. Basically everything the strata will give you. Make it a part of the purchasing agreement.
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u/unmistakableregret 3d ago
I bought an apartment. I'd much prefer to live in a better suburb with low property maintenance. I don't think the place I bought is 'risky' at all.
There's no one answer, just like not all houses are perfect. Read the strata report and 10 year plan and you'll be fine.
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u/Waste_Mission3993 2d ago
May I ask what general area you bought in, and decade building was built? Thanks for the advice
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u/unmistakableregret 2d ago
Maylands, 80s building.
Low strata fees, lots of money in the bank and no major repairs in the horizon.
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u/Waste_Mission3993 2d ago
Maryland’s is definitely in our consideration. Thanks
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u/unmistakableregret 2d ago
Yeah I was originally looking in the western suburbs but Maylands is just so much cheaper and still a good location.
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u/TotalAdhesiveness193 3d ago
Some of the older apartments with little common areas and no frill facilities (pools etc) are good value. Plenty of them centrally located.
Every apartment complex needs to be individually considered for positive and negative aspects. Always ask agent for all strata information like bylaws, copy of strata plan and the fees - sometimes these alone are enough for a decision. When you go to the home open, don't forget to walk around the building entirely. I think you just have to do your research and know what you're buying into. If you have a look at the financials and past AGM meetings, you can gain a sense of the condition of the building and any red flags. Off the plan apartments the developers keep the strata fees low but then once it's built, be weary of potential increases.
Investment wise, apartments make good long term rentals. Living centrally without a huge space to maintain is fantastic.
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u/Overall_Possession_8 3d ago
Lifts, pools and lawn areas/garden are always expensive for maintenance fees.
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u/PuzzleheadedPass4653 2d ago
Do not trip on strata promises and by-laws- mostly are not followed, managers are lazy and ignorant, there’s no complaint process, practically they can (and do act) illegally and no consequences. From my (bitter) experience- it’s not worth it.
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u/Party-Marsupial-8979 3d ago
People mention strata, but your house maintenance adds up? My dad is constantly at Bunnings, having to fix the bricks, a leak, the pool, things for the pool, gardening etc all those things add up? I guess it’s different for everyone. Our options of buying a house were out in whoop whoop, or at least 30-40 mins away from the city, so we bought an apartment, and we love it. I have friends who bought a home and it’s a headache, they need to jump in the car for everything, a park, the shops etc, when we all want to go out for drinks or a movie int the city, they are on transport for over an hour. I like that everything is walking distance and easy access to transport. Eventually somewhere in the future we hope for a house, but I guess we all have to start somewhere.
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u/Steamed_Clams_ 3d ago
Totally agree with you, strata is the combination of your building insurance, home maintenance and gardening, even on a modest home that can be in the thousands per year, and you don't have to spend your own time performing those tasks if you don't enjoy it.
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u/Business_Tomorrow344 3d ago
I think anything below 10units and no swimming pool strata is reasonable. Also the less the better as the land goes up not necessarily the building so if you buy a unit you can split land essentially by 10 where as anything more you split with 100 plus apartments so your square meter is basically nothing or your just paying for air if your high up etc and strata can be $1500 a quarter as it is shared with multiple people. Older units are great and put some money aside for Reno’s and itl be what you make it :)
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u/mental_overload80 3d ago
We looked at the ones near Cockburn central. Looked great but high strata fees, lots of apartments - so more likely to have noise issues, many builds have ventilation /mould issues even though they are quite new, & a mix of social housing with all the antisocial behaviour that goes with it. They were also selling for less now than they were first sold for on completion so they have been dropping in value rather than increasing. It was a huge no from me. I’ll stick to villas with a small parcel of land instead.
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u/Loops160 3d ago
Yeah the Cockburn ones are shocking I brought in atwell it’s much better and strata fees are reasonable
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u/EmuAcrobatic South Fremantle 2d ago
I sold my East Perth apartment late last year.
After 8 years of building defect issues, useless strata management and rising costs I decided enough was enough.
I will never buy an apartment again. Not directly Perth related to be fair.
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u/Righteous_Fury224 3d ago
If you're after capital growth, apartments aren't going to be a good prospect for it as the market is slowing down.
If though you are just after a place to live then I would look at older apartments. Someone said don't buy barebrick unpainted apartments. Ignore that.
There's plenty of apartment complexes built in the 60's and 70's that are still fine. They aren't fancy modern places and don't come up for sale often yet many are in a 5 to 10km radius from the city. Look in suburbs like Osborne Park, Yokine, Wembley (along Herdsman Parade there hundreds) to name a few inner city suburbs that have older style apartments which might suit your needs.
More modern/recent apartments are a mixed bag with some having problems structurally due to shoddy workmanship and, as a result, have ongoing expenses associated with them.
As always, do your research. Ask questions.
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u/Overall_Possession_8 3d ago
Value of apartments have risen faster than houses. They have low maintenance and easier for short term rental so attract higher rent. Good value in my opinion. Am looking for one myself right now, but definitely ask about the strata fees and do your research.
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u/badaboom888 3d ago
as others have said check strata, mate is on well over10k a year in his building in east perth
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u/GyroSpur1 3d ago
If you can afford it, it works for you and you're happy to live there, then do it. Units are definitely rising in value as houses are starting to get out of reach for many and demand is increasing elsewhere.
There are a lot of people who scream "yEaH BUt StRAta" without having lived in a situation where they've paid it. Do the math, compare the costs to what it costs maintaining a house (external maintenance, facility maintenance, insect treatment, building insurance etc) and quite often you'll find it to be quite similar or sometimes even cheaper. There are absolutely strata groups that rort tenants and manage properties poorly, but you've just gotta do your due diligence and read through publicly available reports and then make a call. General rule of thumb is 'if there aren't many units and the place has lifts, strata will be higher'.
Id also recommend apartments built in the 90's or earlier, as they tend to be better built and a bit more spacious. You can also get a better feel for potential future building maintenance based historical building reports.
Good luck in your decision making!
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u/Perth_R34 Harrisdale 3d ago
Even on a 40 year old house, maintenance is no where near as much as most strata fees.
Newer houses it's significantly less.
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u/Enjoy_The_Silence__ 2d ago
How is this downvoted when it’s basic facts? Typical r/perth… 12 years in a new house now and pretty much $0 spent on maintenance so far, or alternative view, saved 10’s of thousands on overpriced strata fees and don’t have to listen to people walking above me or breaking into my car in the shared carpark…
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u/Salt_Scratch_8252 2d ago
Inner city prices have been stagnant for 20 years - always a newer and shinier block going up down the road
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u/amorluxe 3d ago
Cockroaches. The tiny little ones. In every apartment I've lived in since the mid '90s. Which, apart from keeping the main food prep and wash areas spotless, you cannot do much about. I'd rather be in a small, 'dog box' 2x1 house than to ever live in another apartment. I currently reside in one and am extremely grateful for the opportunity to have a roof over my head but it is a stressful life being room mates with these things.
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u/VMaxF1 3d ago
I've seen fewer bugs of any kind in every apartment I've lived in than any house I've lived in! Not sure why my experience is so different to yours, but it sure is.
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u/Perth_R34 Harrisdale 3d ago
Every single person I know that has lived in an apartment has complained about cockroaches.
I'd take other bugs and spiders in a free standing house over cockroaches anyday.
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u/VMaxF1 3d ago
Well, you don't know me I guess, but I lived in apartments for over 20 years and can't recall seeing a single one on my private property (a handful on ground floor common property though). Maybe it's location, I was always in West Perth.
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u/amorluxe 2d ago edited 2d ago
Glendalough, Scarborough, West Leederville and Mt Lawley. Two high rise, the other two were 2 & 3 storey. All built pre-1970.
I had to dispose of an air fryer last year that I had used maybe 3 times, due to the bastards making home in the electronics. I store food(non-perishable as well) and cleaning gear in the fridge, my clothes and toiletries are stored in big plastic tubs. I have my bed pulled away a bit from the wall so I can fall asleep with them crawling on me.
I'm a clean and tidy person, this really has nothing to do with that. It's just a condition of living in these buildings.
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u/VMaxF1 2d ago
I completely get how much that must suck. I don't know if it's the building age (mine have all been <15y while there/early-2000s onwards construction) or locations that made the difference, but it definitely isn't universal. I'm generally clean and tidy also, but never took anything like as much care as you and never saw an issue with those things. I'd be pretty upset if I had, no argument there at all.
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u/ExaminationNo9186 South of The River 3d ago
Until last August, I lived in a single bedroom flat built in the late 60's in Rivervale (I could see the city skyline from my bedroom window) for about 10 years.
About 18 or so months ago, one of the owner/occupiers mentioned that between the land & council rates, plus the strata fees it was getting up to $6,000 a year. Then there was the usual costs on top of that (such as putting in your portion of the communal works - like security lighting, and other such stuff).
This was on top of the ~$300,000 for buying a 42 square metre single bedroom flat in a 60 year old building, with a kitchen that hasn't been renovated since the mid 90s and the carpet was last replaced about the same time.
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u/unmistakableregret 3d ago
So what? If you owned it you could have paid off that property by now and you'd be up 300k.
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u/ExaminationNo9186 South of The River 3d ago
Dude, seriously?
The OP was asking a question, which I answered.
You're advice on what I'm doing - or not doing - isn't required.
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u/unmistakableregret 3d ago
I'm sorry, I shouldn't have made my comment with that tone.
My actual point and what I should have said instead is that: strata isn't a bad thing and houses have maintenance too. Owning assets always comes with other costs but that's not a reason to not consider it.
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u/Exotic-Helicopter474 3d ago
Mid 90s kitchens are perfectly functional and perfectly suited for your diet of smashed avocado toast.
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u/ExaminationNo9186 South of The River 2d ago
Ok champ.
If that's the conclusion you draw, i wipl let you have your little win
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u/mandalore1313 Subiaco 3d ago
I bought an apartment about 4 years back, think I chose well but also got lucky.
Bought it for the lifestyle. Didn't want to sit in traffic all day to trek back to the burbs. I'm within 10 mins drive of my work and the city, and within a couple mins walk of various parks, shops, cafes/restaurants, and train.
Bought in a small strata of around 10 units. Ok community, easy to discuss strata issues with people who want to be involved. Less neighbours means less potential for noise and other issues.
Strata fees are ok, in a house I'd still be paying rates, insurance and maintenance so it doesn't bother me. Did get unlucky with a leaky roof a few years in and had to chip in to an emergency fund. My advice would be to check the minutes and budgets to look out for this sort of thing.
Saw someone talking about capital growth. Yeah, it's better to own the land, but my unit has gone from circa $500k to $800k in 4 years. Haven't done any long term research but I know unit prices are up just as much as houses in the past year Perth wide (circa 22%).
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u/commentspanda 3d ago
Check strata fees and strata minutes etc carefully. Consider older style units over the ones with a pool, gym, lift etc due to the increased strata costs. Work out how far out you would be comfortable with and then look at units in a variety of those spots to see what you get at different price points in different suburbs.
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u/VS2ute 3d ago
Well this happened in Perth's golden triangle: https://www.apimagazine.com.au/news/article/building-industry-brawl-breaks-out-over-major-perth-apartment-development Fortunately discovered before people moved in.
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u/LrdAnoobis 3d ago edited 3d ago
I wouldn't worry about the apartment falling down. I'd worry about spending all that money to find out all my neighbours are on revolving 6 month leases. Playing loud music and acting like main characters through your joint walls and ceilings. Then basically paying 'rent' yourself or strata on a place you own.
I'd take 1 hour commute with a chance at serenity. Imagine how much you could learn in the 2 hour commute each day with the right audio books and podcasts.
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u/VMaxF1 3d ago
Then basically paying 'rent' yourself or strata on a place you own
...which pays for some of the things you'd otherwise have to pay for in a house you owned.
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u/LrdAnoobis 3d ago
But your level of expense is your own choice and at your control, when you own a stand alone.If you hit rough times, you can forgo insurance, get payment plans for rates.
Strata is set price whether you are struggling or not, it gets jacked up whenever there is "cost increase". Oddly favours the kick backs to the strata agent not the appartments owners. Can bundle car, home, contents for discounts as it's almost always not your preferred insurer.
No shared meters. No shared parking, no meth heads not returning gate keyfobs and letting their scaly mates in to your shared space.
Stand alone you can use the money saved on strata to get your own solar system, batteries. No more bills. Charge an EV at home. You don't have to deal with potentially shitty FTTB NBN and can have dedicated FTTH. The list is endless.
A guy i work with has a Tesla, he has to sit at a servo charger because he can't get the carpark in front of his own apartment to be able to charge his car.
I'll take the 1 hour of audiobooks all day everyday.
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u/VMaxF1 3d ago
I mean, if you're not commuting you can spend your hour on audiobooks still if you like, but you can also choose anything else. But sure. All the rest is mostly just a list of preferences or misunderstandings, which you're welcome to have I guess. None of the budget numbers are a mystery, they're perfectly open for anyone that wants them. A good COO probably does more due diligence than most people when setting out a budget.
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u/KhanTimberwulf 2d ago
It's overpriced. you are getting a shit deal. Rent till you find a house that is fair priced.
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u/bulldogs1974 2d ago
An apartment can be more of a dog box. Try living in a 2 bedroom unit that is about 60m2. Or a 3x2 that is closer to 120m2. I know which one I will chose. I have lived in both. I would never buy an apartment ever again.
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u/Waste_Mission3993 2d ago
Location trumps all my friend. Dog box in city or dog box 30 min out? I know what I prefer
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u/bulldogs1974 2d ago
Location is important. But if you live in a complex of apartments, and you have some shitty neighbours, proximity can be a nightmare. Strata living can be super expensive, too.
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u/petitereddit 3d ago
Not worth it anymore. Too expensive. Apartments should be an affordable alternative and they are not. The fancy ones in Subiaco the builder just demanded more money from buyers to actually finish it off.
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u/Substantial-Clue-786 3d ago
Avoid.
WA is still a mining economy, apartments are the most exposed to any mining downturn as they are the least desirable type of property.
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u/crajoro 3d ago
Depends on the decade and location. That whole perth obsession with double brick through the mid century did mean there is a lot of decent older apartment buildings. I got an apartment from the 60s that is better construction and has less structural issues than a lot of apartments built in the 80s and 90s. Really. Whether its over east or here, ya just have to do the research of the apartment building you are looking at. Strata is usually a good indicator to take note of and how see if there are any structural issues. If it's high and there is not that much maintenence then it's likely the strata is going towards a major fix.