Buying in Sanctuary Lakes: how owners corporation costs affect a property comparison

A house in Sanctuary Lakes can look much like another Point Cook house in a sales listing. Both may have four bedrooms, a double garage and a similar land area. The ownership costs and shared facilities can still be quite different.

Before comparing prices, find out what comes with the particular title. A photograph of the lake or a reference to resort living does not explain the property's fees, responsibilities or access rights.

Find the owners corporation for the lot

Sanctuary Lakes Resort Services describes a management arrangement in which each Sanctuary Lakes owners corporation is a member of the services company. The resort includes shared facilities and maintenance services. That makes the ownership documents part of the property assessment, alongside the house itself. Sanctuary Lakes Resort Services explains the resort's management.

The practical question is which owners corporation affects the lot you are considering. Ask for the plan of subdivision and the owners corporation certificate. Check that they refer to the correct property, including any garage or other separately described area.

Do not assume a detached house has no shared obligations. Equally, do not apply one owner's annual fees to every property in the estate. The documents for the individual lot are the starting point.

Compare the costs and what they pay for

The resort's published guidance says each lot owner pays an owners corporation fee. Some owners corporations also have common property and maintenance fund fees. The applicable charges therefore need to be checked for the lot rather than taken from a general advertisement. Read the resort's explanation of owners corporation fees.

Put the current annual amount next to the facilities and maintenance it covers. Then look for proposed spending, outstanding work and any additional levies in the records. A lower fee can be attractive, but it means little without knowing the condition of the assets and what has been budgeted.

This is also a fairer way to compare a resort home with a house elsewhere in Point Cook. An owner outside an owners corporation may pay separately for facilities or maintenance that another owner funds collectively. The costs will not match neatly, but they should be visible in the comparison.

Read beyond the current fee notice

Consumer Affairs Victoria recommends reviewing the owners corporation certificate, meeting minutes and agreements affecting common property. The certificate includes information about matters such as fees, insurance, proposed works and potential or existing legal claims. See Consumer Affairs Victoria's apartment and unit buying checklist.

For a Sanctuary Lakes property, ask the conveyancer to explain the documents that apply to that title. Read the rules before assuming that a planned fence, extension or external alteration will be straightforward. A house that suits its current owner may need changes to suit you.

Consider a hypothetical comparison between similar homes: one has well-maintained shared facilities, while the other has substantial common-property work under discussion. A buyer would want the proposed work and funding explained before deciding how much to offer. Subtracting the annual fee from a sale price would not answer that question.

Check the facilities and outlook offered by each home

A lake outlook, quieter position or convenient walking route may matter to a buyer. Establish what the property actually has: a view from a living room is different from a view visible only at the front gate. Access to shared facilities should be checked against the relevant documents.

When discussing value, give the valuer the ownership records as well as the floor plan and photographs. Nearby sales need to be understood in that context. Differences in fees, obligations, condition and outlook help explain why similar bedroom counts do not always produce similar prices.

For a Point Cook property valuation, start with the exact address and intended use of the report. You can contact the team to check the available scope and which ownership documents to provide.