Buying a Apartment Mistakes: Cracks, Leaking Walls - The Truth About Australian Apartments

Рет қаралды 16,178

Mortgage Broker Australia - Hunter Galloway

2 жыл бұрын

If you are thinking about buying a home in 2024 you need to keep watching this video, because it could literally save you from losing hundreds of thousands of dollars.
references
www.news.com.au/finance/busin...
www.propertyology.com.au/how-...
[www.theurbandeveloper.com/art...]
[www.sbs.com.au/language/engli...]
[www.abc.net.au/news/2021-04-1...]
www.smh.com.au/national/nsw/b...
[www.abc.net.au/news/2020-11-2...]
[www.theurbandeveloper.com/art...]
[www.afr.com/property/resident...]
inf.news/en/world/159a353ba84...
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Пікірлер: 68

@MortgageBrokerAustralia 2 жыл бұрын

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@mattboxwell7506 2 жыл бұрын

“Buying a apartment mistakes” would be a more accurate title the current title is slightly misleading

@MortgageBrokerAustralia 2 жыл бұрын

Thanks for the comment, it does also apply to anyone building a home right now as a similar situation can happen with the builder - or like I said with that developers comments you need to be asking the real estate agent lots of questions before you buy a place today - www.smh.com.au/national/nsw/buyer-beware-sydney-agents-selling-units-despite-defect-notices-20210617-p581q1.html Mr Xia says that when the building is complete it will be defect free but that “doesn’t mean I have to tell every buyer, every little thing that happens if they don’t ask”. “No one is asking that question (about defects), but if people ask, I will tell them the truth. If nobody asks about it, why would I need to tell them?

@edenite 2 жыл бұрын

This is a great video, I'm at the preapproval stage but wasn't sure how to navigate strata reports and to look out for potential issues. Thank you

@MortgageBrokerAustralia 2 жыл бұрын

Glad it was helpful, thanks for watching Edenite!

@jayess542 2 жыл бұрын

really appreciate your videos guys! As a first-home buyer, they are so helpful and easy to understand. Keep it up! :)

@MortgageBrokerAustralia 2 жыл бұрын

Our pleasure! Thanks for the comment Jay!

@Teamdb42nv 2 жыл бұрын

Jay, I'm so grateful for your time and effort to make these videos. I am 2 weeks into my apartment shopping and I had no idea about the topics you covered off. Keep it up my man.🙌

@MortgageBrokerAustralia 2 жыл бұрын

You are so welcome!

@venusseyoum630 2 жыл бұрын

I just wanted to say thank youuuu all so much for the valuable information that you've provided. Literally heaven sent!!!

@MortgageBrokerAustralia 2 жыл бұрын

You are so welcome!

@gerrymenna5777 2 жыл бұрын

I love the 70's / 80's style read brick apartments ! cant go wrong, low strata no defects

@MortgageBrokerAustralia 2 жыл бұрын

100% right, those things were built to last!

@rubyredjeans Жыл бұрын

Yep as an ex-property manager in Brisbane, I would only recommend those older units. There were some builders from that era that built some shoddy units - I’ve seen a couple of bad blocks in West End, Brisbane but a lot of those 70’s style units in Coorparoo are well built.

@gigantor62 10 ай бұрын

The onus is on the property owner to equip their house, building, apartment, or unit with fire extinguishers. They're like $30.00 at Bunnings.

@SamSam-xu8yr 2 жыл бұрын

Amazing video. It's really sad that Australia allows shady builder and no one cares to change.

@MortgageBrokerAustralia 2 жыл бұрын

Thanks for watching Sam and appreciate your feedback!

@chiragsondarva5102 2 жыл бұрын

Great video. Title is misleading on so many levels. There can be issues in apartment/houses built in any previous years that doesn’t mean you should NOT BUY A PROPERTY IN 2021. Love everything else about this channel though ✌️

@MortgageBrokerAustralia 2 жыл бұрын

Good point! That's for your suggest Chirag.

@katel3479 5 ай бұрын

this was very insightful! I would really appreciate a video on how to read and things to look out for in the various reports that we get ase a part of purchasing a unit! As a first home buyer, I hardly understand anything on those reports 😵‍💫

@MortgageBrokerAustralia 5 ай бұрын

Great suggestion! We'll see what we can do

@niroshandavid6100 2 жыл бұрын

Great video! Do you need to do building and pest on an apartment? I thought it would be covered on strata report.

@MortgageBrokerAustralia 2 жыл бұрын

I'd strongly suggest it, just in case the strata hasnt picked up issues with the building.

@pixelmasque 2 жыл бұрын

strata report does nothing, they said they dont have to check all the strata records, but they lied. They were working together with the agent. I was sold a lemon on my first property with black mould thick under the carpet, they had painted the walls to hide the scaling damage, and a leaking cracked ground floor wall that flooded the room, I couldn't tell because it was my first property, and there had not been rains for months, the neighbor asked me if I was moving out the day I moved in, I said no I just bought it, she said didnt you know about the previous tenants kids they got sick from the mould. 2 days after I moved in the rainstorms hit and the room flooded, I had to fight on a strata vote to get the company of choice I wanted who worked on the Sydney Opera House to mend the walls from the outside, and split the bill with strata, they wanted a cheap ass fixer to do the insides only, and I found the best. Lucky I won by 1 vote, a year of severe stress I learnt from. Get a BUILDERS report. Really with the lax laws releasing the builder of any obligations it really is a wild west buying property in NSW.

@MortgageBrokerAustralia 2 жыл бұрын

Thanks for sharing your story Pixelmasque, sorry to hear and glad it worked out in the end.

@rubyredjeans Жыл бұрын

I would recommend everyone buying a unit to knock on the doors of neighbours in the complex - if there are known defects they will generally know about them - especially if it’s a block. Even when buying a house I check with neighbours. I nearly purchased a house that a meth addict/dealer lived in for years. The neighbours warned me about this. I’m glad I asked them, as I avoided buying a potentially contaminated house.

@sujaygulwadi5252 2 жыл бұрын

The title should read, why you should not buy an defective apartment block built by low cost builder. As far as 2021, never been a better time to invest.

@MortgageBrokerAustralia 2 жыл бұрын

Thanks for your feedback Sujay!

@theockle 2 жыл бұрын

So basically, don't buy an apartment.

@MortgageBrokerAustralia 2 жыл бұрын

Not necessarily even with newly build homes you want to find out who the builder is because there is the potential for similar problems down the line if they phionix the business. Also like I mentioned older apartments tend to not have the same issues. Thanks for watching.

@rubyredjeans Жыл бұрын

I would steer clear of any apartments built from the 90’s onwards. I have managed hundreds of properties across central Brisbane and the amount of defects, cracks and leaks I’ve seen in units/apartments is phenomenal!

@austinhuang4450 2 жыл бұрын

Wouldn’t the strata fees cover the cost of repairing? AFAIK most strata fees do cover building insurance.

@MortgageBrokerAustralia 2 жыл бұрын

Yeah definitely do hold some in reserve but unfortunately they don't hold millions to replace the entire building like with mascot towers etc. And insurance doesn't cover building defects.

@sectorrottation 2 жыл бұрын

One of the best videos from you guys. Title is misleading though.

@MortgageBrokerAustralia 2 жыл бұрын

Thanks for the feedback D D !

@sunnykel7573 2 жыл бұрын

When would you recommend getting the building and pest inspection done? Before or after making an offer? (Subject to the inspection.)

@MortgageBrokerAustralia 2 жыл бұрын

Yes for sure, you can make your offer subject to satisfactory building and pest report so defo worth it! thanks for watching

@sunnykel7573 2 жыл бұрын

@@MortgageBrokerAustralia thank you

@shrikantramkrishanganesh9170 2 жыл бұрын

M8 thanks for d true information

@MortgageBrokerAustralia 2 жыл бұрын

Any time!

@fionaforward3358 2 ай бұрын

These poor people.This could destroy their lives.Most of us put all we have into our homes.Once again shoddy builders,usually from overseas.

@MortgageBrokerAustralia 2 ай бұрын

It’s truly concerning when people face challenges with their homes, especially due to poor construction. This highlights the importance of rigorous building standards and oversight. By strengthening these measures, we can better protect homeowners and ensure higher quality in home building.

@danielsummerfield 2 жыл бұрын

How do you get time to get strata reports when people re buying properties over FaceTime? Surely they re not going to wait on somebody that takes their time over somebody that’s willing to buy on the spot like that

@MortgageBrokerAustralia 2 жыл бұрын

Thanks Daniel, great point and it's pretty crazy at the moment. You are exactly right, does make it a challenge when people are buying properties sight unseen.

@michaelmallal9101 5 ай бұрын

Why not get a building inspection before buying?

@MortgageBrokerAustralia 5 ай бұрын

Absolutely, getting a building inspection before buying a property is a brilliant idea - but because it costs you $500-600 each go its best to wait until you have an offer accepted to avoid spending money on properties you don't secure. These inspections can provide invaluable insights into the condition of the building, including structural integrity, plumbing, electrical systems, and more. Identifying these issues early on can save you from future headaches and unexpected repair costs. It's all about ensuring you're making a well-informed decision and investing in a home that's safe, sound, and matches your expectations

@fionaforward3358 2 ай бұрын

If you buy off plan there is no building to inspect!

@pixelmasque 2 жыл бұрын

you have made a couple of mistakes, strata reports carry little weight, get a builders report. And Certifiers are not responsible for structural damage or inferior materials used in buildings it is not their education or role. The Certifier is not responsible for the construction work. They are not the building supervisor, nor the onsite engineer. A certifier does not have the skills to understand concrete mixing or engineering, wouldnt have a clue about construction quality and is not onsite more than 5% of the time. They are there for general checking of fire safety equipment, door sizes and other checks like placement of fire alarms. Any structural defect or material quality is not in the knowledge of certifiers neither is it there job. Yet they get accused of these things because the general public are fed that idea by the media who dont understand the role either. There needs to be culpability and liability placed on the builder and owner directly for having engineers and onsite building supervisors carry out the work as planned. What happens is builders ditch the original architect they marketed with, then go to another architect to modify plans and have the onsite team construct shortcuts to the original, engineers are not onsite as often as they should be to save money, builders buy flammable cladding, and mix the concrete with inferior ingredients to save money, and it all goes south from there. None of this is the certifiers fault. But good of you to warn people about the mishaps in doing due diligence. BUYER INDEED BEWARE its a wild west in Australia when buying property.

@MortgageBrokerAustralia 2 жыл бұрын

Thanks for sharing Pixelmasque

@vonhellfinger7540 2 жыл бұрын

Too many make a fast buck new Australians and drug adict tradies ruining the craftsmanship of what was a 1st class industry with Integrity. The old Masters have retired the apprentices never made the grade.

@MortgageBrokerAustralia 2 жыл бұрын

Thanks for watching Terry!

@paulclark2410 2 жыл бұрын

The other dude is a twin?

@MortgageBrokerAustralia 2 жыл бұрын

Thanks for watching Paul! We are all brothers, Josh and Nathan are twins.

@Denise-eb7vg 2 жыл бұрын

Don't buy apartments

@MortgageBrokerAustralia 2 жыл бұрын

Thanks for watching Denise!

@zookiatookya320 2 жыл бұрын

Exactly! If you are looking to buy anything, buy land and a house, I would pay rent to live in an appartment, but would never purchase it.

@athenaexclamation4167 2 жыл бұрын

Same ... elevator, main gates , pool , power it draws to run those things all add to the body corp . The repair costs are high on those things, and it will only go higher . Buy duplex in community title scheme is a better choice ... as long as your own building is fine, less things to worry . Structural issue in an apartment is a death penalty , no owner can get out easy