OK firstie, for the benefit of the others reading this, I will post my comments here without identifying either the building or you
Strata report:
Harmony in the building - no disharmony (good)
Insurances in place (good). Building insured for more than the valuation (good).
Levies: Admin fund $625pq + Sinking $62.50pq = $687.50pq (OK but starting to get higher than the $620pq I would have expected).
Special levy of $12K was recently raised for roof repairs - good for you (not so great for existing owners, but this is what you have to do when you are a unit owner).
Cash: $24K in admin fund, nearly $5K in sinking fund = $29K all up shared between 7 units = $4K per unit = good. (as long as the $5K in the sinking fund is not after everyone has paid $12K for the special levy, which looking at the accounts, it is). But still, they have cash. Some BC reports I have read show 22 units and no cash at all in any account.
10 year plan on how to spend the sinking fund is not in place = bad, and they really should get on and do it.
No evidence of Fire Safety compliance = bad, and they really should get on and do it.
Pest & Building report:
They note roof repairs in the order of $15K required - the strata report says they have accepted a quote to do this (this is what the special levy was raised for) = all OK.
They say roof tiles may need replacing at cost of $100K - the roof tiles look OK to me from the photos they provided. It does need repointing on the ridge capping - simple to do.
It looks to me as though they will be needing to raise further special levies as time goes on, to fix:
Windows
Electrical - exposed wiring
Plumbing - old iron pipes
Front doors are not fire-rated
Railings are not up to building code
I can see from reading the reports why a novice may be scared off but really this is all pretty consistent with purchasing in a 75 year old building.
Depending on the price you are paying for the unit, and provided that you are prepared for ongoing repairs and maintenance required in a building of this age, then I see no problems with it, apart from:
1. The main road address (and traffic noise)
2. The fact that it is only a 1brm
- but this will all come back to the price you are prepared to pay
3. ....and I am not sure of the floor m2 area. Is it more than 50m2??
Ahhhh - I just looked it up. Rents for $420pw and costs under $400K - nice
Let us know how you get on.
Cheers, Alan