Apartment due diligence
Five strata checks before you buy
A polished apartment can still carry expensive building-level risks. Before contracts become unconditional, these five checks deserve more than a glance.
- Recent meeting minutes.Look for recurring water ingress, defects, disputes, lift issues and work that keeps being deferred.
- Capital works plan.Compare forecast expenditure with the fund balance. A gap can mean future levies.
- Special levies.Confirm what is already raised, what remains payable and whether another levy is being discussed.
- Insurance.Check the current policy, excesses and any exclusions that may point to unresolved risk.
- Owner concentration.High investor concentration is not automatically bad, but it changes rental competition, voting dynamics and resale depth.
Velix view
The question is not simply “Is the apartment nice?” It is “What obligations am I buying into with it?”
