Strata building inspections are a 'must do' for anyone thinking about purchasing property in a strata-managed block. Outlining financial and managerial matters such as fees, levies and meetings, as well as any future construction or major works planned, a strata report can be a useful tool and negotiating point in the pre-purchase process. A strata report may also detail past disputes between neighbours within the building and past strata meeting minutes. Location location location - a truism with any real estate consideration - It doesn't matter whether you are buying a new home or leasing a commercial space, location is very important for future financial gain. In the insurance world, there is something else that you should take into account when searching for your next space: The construction of the building.