Selling in Strata: What Apartment Buyers are Looking For
Selling an apartment in a strata scheme can be a different experience from selling a standalone house. Buyers aren’t just purchasing a home they’re buying into a community, shared facilities, and shared responsibilities. Understanding what buyers are looking for and presenting your apartment in the best possible light can make a significant difference to your sale.
We asked some of our Real Estate Agent subscribers to share their thoughts.
Understanding Strata Living
Buyers in a strata scheme are not only assessing the apartment itself but also the quality of management, the condition of common areas, and the overall vibe of the community.
Many buyers are drawn to apartments for the convenience, amenities, and lifestyle they offer but they are also cautious about hidden costs, complicated by-laws, or poorly managed buildings. As a seller, your job is to reassure them and highlight the positives.
Key Documents Buyers Want to See
Buyers in a strata scheme will usually request specific documents during the sales process. Being prepared with these can make your apartment more attractive:
Strata Plan: Shows the layout of the building and common areas. Buyers often want to understand the boundaries of their lot versus shared spaces.
By-laws: These are the rules that govern behaviour within the scheme. Some buyers have lifestyle considerations, such as pet ownership, renting out the property, or renovations. Providing these upfront helps set expectations.
Strata Levies and Financial Statements: Buyers want to know what they will need to contribute and whether the owners corporation is financially healthy. Highlighting a well-managed budget can reassure them.
Recent AGM and Committee Minutes: These documents reveal any upcoming works, disputes, or changes in the building. Being transparent here builds trust.
Maintenance and Safety Reports: Any evidence of regular maintenance, safety checks, or recent upgrades shows the building is cared for and reduces perceived risk.
Being proactive with documentation shows buyers that the property is well-managed and can save time during negotiations. Some Agents will encourage sellers to get an independent search report to provide to buyers.
Common Buyer Concerns
When buyers inspect an apartment or townhouse, they often focus on areas that affect both their lifestyle and their investment. Some of our real estate agent subscribers gave us their biggest issues which include:
Maintenance: Is the building well-kept? Are common areas clean and functional? Buyers are wary of schemes that show signs of neglect.
Strata Fees: High or irregular fees can be a turn-off. Be ready to explain what the levies cover and any upcoming projects.
Community Harmony: Disputes or a lack of communication within the scheme can signal potential headaches.
Amenities and Facilities: Pools, gyms, and rooftop gardens add value, but only if they are well-maintained and accessible.
Future Works: Buyers want to know if major repairs or renovations are imminent, such as roof replacements or façade works.
By addressing these concerns openly, you reduce buyer hesitation and create confidence in your property.
Tip: Remember the apartment door is not the front door to the home, the foyer or entrance door is, common areas are just as important. You can change the apartment easily, changing the common areas is harder so its best these are kept in the highest standard possible.
Presenting Your Apartment for an Open Home
A well-presented apartment can significantly impact a buyer’s perception.
Here are practical tips that some selling agents gave us to make your property shine during an open home:
1. Declutter and Depersonalise
Remove excess furniture, personal items, and clutter. Buyers need to envision themselves living in the space, and too many personal items can distract from the apartment’s features.
2. Deep Clean
A spotless apartment sends a strong message about care and maintenance. Pay attention to kitchens, bathrooms, windows, floors, and even common touchpoints like light switches and door handles. Keep the oven clean!
3. Highlight Storage
Storage is often a top priority for apartment buyers. Ensure cupboards, wardrobes, and pantry spaces are tidy and show off their full potential.
4. Optimise Lighting
Natural light makes spaces feel larger and more inviting. Open curtains or blinds, turn on lights, and consider replacing dim bulbs with brighter, warm lighting.
5. Stage Strategically
If you have furniture, arrange it to emphasise flow and functionality. Use neutral tones where possible and consider adding a few soft furnishings or plants to create a welcoming atmosphere.
6. Showcase Amenities
If your building has shared facilities, make sure buyers see them in the best light. Ensure the pool area is clean, tidy the gym, or provide photos if access is limited. Highlighting lifestyle benefits can set your apartment apart.
7. Maintain the Exterior
First impressions matter. Ensure the entryway, mailbox, and any shared outdoor areas are neat and presentable.
Tips for Communicating the Strata Advantage
Buyers may not fully understand how a well-run strata scheme can enhance their living experience.
Highlight benefits such as:
Professionally managed building services
Regular maintenance and safety checks
Access to shared amenities
Sense of community and security
Transparency and financial stability
Providing a concise summary of the building’s management, recent improvements, and upcoming projects can reassure buyers and position your property as a low-risk, high-value purchase.
Final Thoughts
Selling an apartment or townhouse in a scheme is not just about the unit itself, it’s about selling the lifestyle, community, and peace of mind that come with living in a well-managed building. By preparing the right documents, addressing buyer concerns, and presenting your apartment thoughtfully, you increase your chances of a smooth, successful sale.
Remember, buyers are not just purchasing square meters they’re investing in a home and a community. Make it easy for them to see the value in both. With careful preparation and attention to detail, you can turn your apartment into a standout option on the market.
Disclaimer:
This article is intended for general educational purposes only and does not constitute legal or financial advice. Readers should seek independent legal and professional guidance relevant to their specific circumstances and jurisdiction.