And another sent through this site:
Strata – Dream Home or Money Pit?
As a Strata buyer, we made our initial purchase back in July of 2016; waiting five months to get our contracts signed. Now we know why they made us wait the five months. So far this has been truly a disappointment. We sold our home, looking forward to move to our new home within 12 months as promised and of no avail; we’ve moved several times now in addition to paying a storage unit for two years. And what does Strata offer? Nothing.
We call to get status, no answer. If we leave a message and they decide to return our call they have no answers. They simply say “they will take down our number and our concern and will get back to us”. We drive by, no one is in the office. We drive by, no one is working on our unit or sometimes no one is on construction grounds. What could cause construction to delay for almost two years? Sadly our contract states the builder has two years to complete the construction of our unit. That means two years from our signed contract. Two years in December of 2018 to be exact.
Companies like Lennar, K Hovnanian, Pulte Group, DR Horton, etc are breaking ground almost everywhere with a 10-12 month turnaround all offering $20K – $30K closing cost or upgrade incentives. Strata offers you nothing. They do not care about their buyers. I’ve gone as far as asking if they’ve negotiated special rental rates with some nearby rental properties for Strata property owners because of the construction delays? They said no.
Where is the “smart investment” here? My family has to move again or we can stay and pay twice the rent amount if we decide on a month to month rental lease. We’ve spent $55,524 on rent for the past two years. We could have put at least half of that against our mortgage by now. Thanks Strata!!!
Since we’ve already lost $55,524 renting waiting on YOU, why don’t you just return our 5% deposit (petty cash for you) so that we can finally find the home of our dreams and move in because our “dream home” is NOT Strata anymore. It’s more like a money pit.