There are many benefits associated with strata or condominium ownership – not the least of which is affordability.  A strata home or apartment can cost much less than a comparably-sized single-family home, because in most cases you share the value of the land with many other owners.  (Bare-land strata homes are a different matter).  Many strata developments include amenities and facilities which an individual owner may not be able to afford on his own, such as a swimming pool, exercise room or tennis courts. 

 For many strata owners, a big plus is the low maintenance. Monthly fees, also known as strata assessments, are paid into a common fund for maintenance of all the common property – the gardens, grounds, building exterior, and amenities.  The strata council administers these funds to maintain the common property, meaning that you don’t need to climb a ladder to clean the gutters or fix a problem.  And as long as you and your fellow strata owners invest sufficient resources into your common contingency fund, you may never need to come up with quick cash for emergency repairs. 

 Another aspect of strata ownership is convenience.  Often, condominium-style strata properties are located in cities rather than in suburban areas.  This close proximity to “the city life” means that your favourite shops and restaurants are close by – sometimes even in the same complex.  The city life is ideal for young singles and couples, as well as for retirees who may not want to drive far for appointments and shopping.

 Most strata complexes offer security.   Whether you have a gated community, a high-tech alarm with cameras, or a simple door-buzzer entry system, chances are that your strata complex has more security features than the average single-family home.  You can also count on your neighbors to be watchful and aware in your absence. 

Don’t overlook the community created by a strata development.  Being in close quarters with your neighbors has distinct advantages – you will get to know them sooner than if your house was across the street. Some stratas organize get-togethers for all the owners – no obligation to attend but if you do, you’re sure to meet people like yourself.

 Whether you are a first-time homeowner, a retiree down-sizing, or somewhere between those two, you are sure to find many more reasons to enjoy the lifestyle of living in a condominium or strata property.