Residential Title vs Sectional Title: Know Your Real Estate
Many people are wondering what would be the best choice to make when they decide to buy – Residential title living or Sectional title living?
As the name implies, sectional title refers to the ownership of units in a complex, such as an apartment complex or semi-detached home. Did you know? Owners of sectional titles share in the cost of body corporate expenses.
Having a residential title means you own your own home and land, but you are also responsible for all of the property’s financial obligations.
See below the pros and cons of a residential title versus a sectional title:
In the end, it’s really about you and your needs. If you don’t get along with others in a sandpit, communal living isn’t for you. You have to accept whatever rules and regulations the complex lays out, regardless of whether you like them or not.
If affordability and maintenance are issues, I would recommend sectional title properties as you will have shared responsibilities and are not expected to cover all the costs on your own.
Wishing you the best of luck with your decision!
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