07/03/2019
Do you know the difference between Freehold and Sectional Title homes?
Freehold homes:
When purchasing a freehold property you buy the land and all the permanent improvements (buildings) on it. You are the sole owner of the property and can do on your property whatever you please (and as allowed by the local council’s rules, regulations and by-laws).
You pay your rates and taxes and consumables directly to the municipality.
Sectional title homes:
Examples of sectional title schemes are apartments buildings, secure estates and other developments which include shared communal areas and facilities. When you buy into such a complex, you purchase full ownership of a section plus an undivided share of the common property. As owner of a section you automatically become a member of the body corporate of the sectional title scheme, which owns and manages the common property. Monthly levies cover maintenance, security, building insurance and other related costs.
