Sydney is the hub of urban development and modernisation. It connects Australia to the rest of the world. For that reason, the infrastructure in the city matches international standards. Some of the good reasons for high property prices in the city. Investing in property is the best way to earn high returns on investment. Purchasing a property is not as simple as it seems. There are various types of property titles to go for while purchasing a property. There is green title , purple title, and strata title. Green title is simple and involves transferring ownership of land as property that is totally autonomous without any common land whose ownership is to be shared. Purple title is less prevalent and includes obtaining title by purchasing shares of a company that holds the property. Strata title is one of the most popular methods where a person has the liberty to own property in units and the property is divisible as per the need of purchaser. Making a decision on the type of property to invest in is difficult. Consulting property managers is of good help. But here are a couple of things to look for while choosing the right type of property title:
Affordability/budget: Availability of finance is the first thing to determine where to invest. Where a person is short of funds, a good way to make the best use of it is to invest in strata title at a potentially posh location. The idea is to make good return out of small property rather than spending that amount on a larger property by holding a green title in a less developed area.
Location of property matters. If the property, irrespective of the type is located in a posh location and budget is not the problem then invest in whatever type of title available at the place.
Recurring expenses: Strata title involves recurring expenses in the nature of maintenance, strata management fees etc. Recurring expenses may be low in case of land title (green title).