From cracked balconies and scary strata reports to surprise levies and even the risk of being gazumped, first home buyers often feel like they're walking through a minefield of hidden risks.
These issues can seem overwhelming at first glance — but many of them can be managed if you know what to look for and how to prepare.
In this episode, we're answering real questions from our community about the red flags and roadblocks hidden in strata reports, contracts, and property types. You'll hear what defects and special levies actually mean for your budget, how to read a strata report without panicking, and the steps you must take before making an unconditional offer in NSW.
Here's what we cover and why it matters:
📑 How to Read Strata Reports with Confidence
Strata reports can look intimidating, filled with pages of defects, levies, and technical jargon. But not every issue is a disaster. We'll show you how to tell the difference between routine maintenance and genuine red flags — and when concrete cancer should make you think twice.
💸 Defects, Special Levies & the True Cost of Ownership
A sudden levy or major defect doesn't always mean you should walk away. The key is knowing whether the problem is well understood, properly costed, and funded by the building's capital works or sinking fund. That's how you spot the difference between a fair discount and a future money pit.
📜 Contracts & Deposit Risks
You've signed the contract and paid a holding deposit — so are you safe? Not always. We break down how gazumping works in different states, what "under contract" really means, and how to protect yourself from losing the home you thought was yours.
🏘 Villa Units vs Apartments & Townhouses
Villa units often sit in a grey area between houses and apartments, leaving buyers unsure about value and growth potential. We unpack where they fit in the market, what to compare them against, and how scarcity can work in your favour.
✅ Unconditional Offers in NSW
Making an unconditional offer can speed things up — but it also strips away your safety net. We outline the must-do checks before you commit, so you don't end up locked into a costly mistake.
🎯 By the end of this episode, you'll know how to read strata reports with clarity, factor levies into your budget, and spot the real dealbreakers before it's too late — so you can move forward with confidence, not regret.
00:00 – Introduction
02:09 – Understanding Strata Reports
02:40 – Q1: Researching Issues in Strata Reports
05:45 – Q2: Can You Be Outbid After Signing a Contract?
09:17 – Q3: How to Evaluate Villa Units
13:25 – Q4: Making Unconditional Offers in NSW
15:06 – Q5: Defects, Levies & Price: Dealbreaker or Discount?
17:42 – Conclusion and Final Advice
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