So, what are the pros and cons?
Location: Apartment developments are generally built in close proximity to conveniences such as transport and shopping areas. Some even have onsite cafes and shops.
Convenience: A smaller home means less cleaning and gardening requirements.
Security: Most apartment buildings come with security features you wouldn’t get in a house. For example, most require a security fob to enter the building, and many also require the fob to get the lift to stop on your floor. Some buildings have a concierge on site 24 hours per day, so security is maximised.
Amenities: Many apartment buildings come with fantastic amenities, like swimming pools, gyms, and barbeque areas. These are maintained by the building managers / body corporate meaning you don’t need to look after them.
Affordability: Price is often an attractive feature with apartments. It may mean you can live in an area you may otherwise not be able to afford. If you are downsizing, purchasing an apartment may allow you to free up cash flow while living in the area you desire. Apartment living often means your regular expenses are lower as it generally costs less to run a smaller home.
Lifestyle: Apartment living can offer a community feel for those who are so inclined. It is also suitable to those living solo, as you are secure on your own, but you have people close by if you need them.
Body Corporation: The fees and rules associated with body corporates are sometimes off putting but it is worth keeping in mind that these fees cover the maintenance, convenience and security of your building, meaning you don’t have to worry about these issues.
Smaller living areas: There may be some adjustment to getting used to living in smaller spaces. You may have to change your furnishings to fit within the property and eliminate some of your personal items, but it can be a great opportunity to declutter.
Privacy and noise: Living in an apartment is generally going to mean more noise and potentially not as much privacy. It can take some getting used to but most are able to adapt.
Parking: Most apartments come with at least one parking space, but there are some that do not so it is wise to make sure the apartment you are looking at suits your vehicle requirements. There can also be an issue for visitors finding parking if the area is particularly built up, although this is not uncommon in inner city areas in general.
When it comes to apartment living, you want to try and make sure your apartment is in a well-chosen area, within quality development. Tiago Property Group specialise in finding apartments to suit all lifestyle choices. Contact us to see how we can help you secure your dream apartment.