property*
Sectional
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GARETH BAILEY CONSIDERS THE PROS AND CONS OF LIVING IN A SECTIONAL TITLE SCHEME
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choice of pets, how much noise you make, and how long your party lasts. It also affects your renovation and home maintenance budget decisions, as you will need to get body corporate approval before making any changes and all maintenance decisions are made communally. The converse of this is that residents can benefit from the diverse skills of fellow residents in managing the scheme, and the physical chores of property maintenance are shared
hile sectional title and estate living is becoming increasingly popular, the decision to go communal or remain independent in a freehold home is based on nuanced interpretations of the pros and cons of each. Improved security is probably the most obvious reason for moving into a sectional title complex, but there are a host of other factors to be considered. Firstly, the move often involves a smaller living area and garden space. It also means living in closer proximity to neighbours and managing these interpersonal dynamics. Some may find the social nature of complexes exhausting while others will thrive in the sense of community, knowing their neighbours and interacting with real humans as opposed to being cocooned behind high walls. Secondly, going sectional can limit freedom such as
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between residents. Lastly, the running costs of sectional schemes can appear more expensive at first glance. This is because the trustees have a duty to maintain both an administration fund as well as a reserve fund to cater for the operational and maintenance requirements of the scheme. The requirement for the reserve fund came into operation in 2016 and requires trustees to save an additional 15% of the coming year’s administration
