Any idea how high body cooperate fees can be ? ( as % )
How long is a piece of string? Depending on the size, number of units and the buildings facilities, it can vary between <$1,000 to >$6,000 per annum.
Are these good for living with young family ? ( What are the advantages and disadvantages )
Pros:
- proximity to the city and transport
- some buildings have good facilies i.e. gym, pool, cinema
- generally cheaper than a 3br free standing house in the same suburb
Cons:
- high density living does not suit some people, likely to have neighbours on either side, above and below you
- body corporate costs can get $$$ when something goes wrong i.e. lifts breaking down
- a lot of the newer buildings only have an expected life of ~50 years
- no outdoor area, unless you snag a ground floor dwelling with courtyard. Ground floor has other issues though.
Can apartment over supply hurt the market
Probably.
They are not cheap in inner suburbs of Melbourne closer or over 1 M for a 3 bed with facilities
