Short answer
The big difference is shared ownership. With a house you own everything and make all the decisions yourself; in strata you own your unit but share the building, the costs and the decisions with the other owners.
Ownership
- House — you own the land, the building and everything on it.
- Strata — you own the inside of your lot; the structure and shared areas are common property, owned jointly by all owners.
Costs and maintenance
- House — you pay for and arrange all your own maintenance.
- Strata — you pay levies toward shared costs, and the owners corporation maintains the common property. Big-ticket items (roof, lifts) are shared, which spreads the cost.
Control
- House — your call (within council rules).
- Strata — you follow shared by-laws and vote with other owners; more community, less solo control.
The part people underestimate: running it
A strata scheme is a small organisation that has to be run — levies, meetings, records, compliance. Owners who self-manage keep control and the savings, and a system such as Straita does the administrative work, so shared ownership doesn’t mean a shared headache.
Primary sources
- Strata Schemes Management Act 2015 (NSW) — how strata ownership and management work.
- NSW Government — Strata schemes (Fair Trading) — buying and living in strata.