this post was submitted on 06 Sep 2023
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Here, buying an apartment makes you liable for any structural issues to the whole building, it's a huge risk and with how terrible build quality is these days I'd never buy an apartment
There are many highrise buildings in Australia with residents paying hundreds of thousands each for issues caused by dodgy builders. The builder simply closes the business during the warranty period and they are off the hook for claims
I am sorry but wouldn't be the same issue with a house? It's still done by a builder. Plus in the apartments case the costs are shared, yeah they might be bigger but the house costs are all you.
Cost to build a brand new house is like $200k, and they are typically audited on purchase. You can demolish the house and still have $800k in land value. You don't own any land when buying an apartment