BENEFITS OF LIVING IN AN APARTMENT

  • Property In Demand
  • July 14, 2017

Many of us grew up in a house in the suburbs. While that may have been the dream of our parent’s generation, things are different today. More adults are postponing having families and are instead opting for a lifestyle that promotes being social, being local, and allows for freedom to do other things like travel.

As such, instead of purchasing a house and land, many buyers are drawn to buying an apartment and enjoying the lifestyle that goes with it. If you are still looking at weighing your options, take a look at the following list of benefits to apartment living:

More money in your back pocket

While the idea of ditching your daily latte and making your own lunch is doable for a while, most people do not want to give up their creature comforts.

An apartment can be quite a lot cheaper than a house. Additionally, if you buy off the plan, you could save even more money by getting a great price and not paying as much on stamp duty.

You’ll probably even make some capital gains on your apartment by the time you move in. You’ll also be saving money on costs like heating and electricity. By living in a smaller space, your energy costs will be lower due to better efficiency. You may also be within walking distance to your favourite places, meaning you’ll be using your car much less.

Lifestyle

Living out in the suburbs may seem like a good idea at first, until you realise that you are so far away you rarely go out to see your friends and they don’t come to visit you either. Maybe you have a weekly routine of walking down to your local coffee shop to enjoy a cappuccino while reading the paper, something that you cannot do without living close to everything. With apartments being typically cheaper than houses, your could purchase one in your suburb of choice; whereas a house in that same suburb would financially be out of reach.

Freedom to travel

With more disposable money, it’s easier to plan and book holidays when you need a break from work. On top of that, by living in an apartment close to cafes, bars and the city, you could easily find someone to rent your place while you’re away. You could even take advantage of the new sharing community movement like Airbnb.

A smaller space means less time being domestic. With your busy social life, you won’t have time to cut the lawn or clean four bedrooms. Apartments are generally very easy to clean, being a smaller space. The building itself is looked after by the body corporate.

Furthermore, if you buy off the plan and move into a brand new home, you won’t have to worry about changing or replacing anything in the near future.