BUYER’S REMORSE – WHAT YOU SIGNED IS WHAT YOU OWN

Buying a new apartment or townhouse — especially off-the-plan — is exciting. You’re shown glossy brochures, stunning artist impressions and promises of a vibrant lifestyle. But what often gets missed in all the excitement is the fine print in the contract of sale. That’s where the real details of what you’re buying into are laid out, and it’s also where many buyers run into trouble later.

This is what we call buyer’s remorse — when the reality of strata living doesn’t match what you thought you were signing up for.

Off-the-Plan: More Than Just Your Lot

When you purchase off-the-plan, you’re not just buying four walls. You’re also agreeing to:

• Levy contributions – regular payments that cover the upkeep of common areas like pools, gyms, gardens, lifts, and shared facilities. (See: Body corporate fees (levies) – QLD Gov)
  https://www.qld.gov.au/law/housing-and-neighbours/body-corporate/finance-insurance/fees.
• Lot entitlements – your share of ownership that decides how much you pay in levies and how much voting power you have. (See: Lot entitlements – QLD Gov)
  https://www.qld.gov.au/law/housing-and-neighbours/body-corporate/lot-entitlements.
• Service agreements – long-term caretaker (sometimes up to 25 years) and other service contracts that set out who looks after cleaning, asset maintenance, administration and other services. (See: Service contractors & caretakers – QLD Gov)
  https://www.qld.gov.au/law/housing-and-neighbours/body-corporate/maintenance/service-contractors.

These agreements are put in place before you move in so that everything runs smoothly from day one. But they also come with ongoing costs that you’ve signed up to from the start — whether you use the facilities or not.

When the Goalposts Can’t Move

Sometimes new owners to move into a strata community for the first time and get a shock when the first levy contribution notice arrives, or when they realise a caretaker is appointed for a 25-year agreement, resulting in buyer’s remorse. Suddenly, the calls start to “change the goalposts” — reduce levies, cancel services, or get rid of the caretaker.

Here’s the reality:

• Levies are based on the budget needed to keep the building running.
• Lot entitlements are set when the scheme is registered and don’t change just because you don’t like your share.
• Caretaker agreements are legally binding contracts. They can’t just be torn up because new owners want something different.

In other words, these weren’t hidden. They were disclosed in the documents you agreed to when you signed the property purchase contract.

Your Options if You’re Not Happy

If you’ve moved in and feel the obligations don’t suit your lifestyle or budget, one practical option is to sell the property.

It might not be what you want to hear, but trying to unwind levy structures, lot entitlements, or caretaker contracts after the fact requires the agreement of all other effected parties and is usually unsuccessful.

The better approach is to understand the commitments upfront before you buy. That means:

• Reading the disclosure documents carefully.
• Planning for and understanding levies, lot entitlements and long-term agreements.
• Getting advice you need from a lawyer or body corporate professional before you sign.

Useful pages for buyers:

• Buying a body corporate property (QLD Gov) – what to check, levies, certificates:
  https://www.qld.gov.au/law/housing-and-neighbours/body-corporate/legislation-and-bccm/buying-into.
• Seller disclosure scheme (QLD Gov) – in force from 1 August 2025 (helps buyers know what sellers must disclose):
  https://www.qld.gov.au/law/housing-and-neighbours/buying-and-selling-a-property/seller-disclosure-scheme.

The Bottom Line

Strata living offers amazing benefits — shared amenities, convenience, and a built-in community. But it also comes with responsibilities that can’t easily be changed once you’ve bought in.

So, if you’re considering a purchase, especially off-the-plan, make sure you understand exactly what you’re signing up for to avoid buyer’s remorse. And if you’ve already bought and find yourself unhappy with the obligations, remember: what you signed is what you own. Changing the rules after the fact usually isn’t an option — but selling always is.

Buyer’s Checklist: 5 Things to Check Before Signing Off-the-Plan

1. Levies – How much are they expected to be, and what do they cover? https://www.qld.gov.au/law/housing-and-neighbours/body-corporate/finance-insurance/fees.
2. Lot Entitlements – What proportion of costs will you be responsible for? https://www.qld.gov.au/law/housing-and-neighbours/body-corporate/lot-entitlements.
3. Caretaker & Service Agreements – How long do they run, and what services are included? https://www.qld.gov.au/law/housing-and-neighbours/body-corporate/maintenance/service-contractors.
4. Facilities – Are there pools, gyms, lifts, or gardens that increase levies even if you don’t use them?
5. Professional Advice – Has a lawyer or strata professional explained the disclosure documents to you in plain language? Buying guide: https://www.qld.gov.au/law/housing-and-neighbours/body-corporate/legislation-and-bccm/buying-into Seller disclosure (from 1 Aug 2025): https://www.qld.gov.au/law/housing-and-neighbours/buying-and-selling-a-property/seller-disclosure-scheme.

Article Contributed by Andrew Staehr, Group Development Consultant, Archers the Strata Professionals