Seven Benefits of Apartment Living

Melburnians are taking to life in apartments with gusto. A small apartment in an inner-suburban high rise is no longer considered a stop-gap for first home owners or young couples working their way up to a ‘proper’ house. Many apartment residents are finding that the unique benefits of the lifestyle suit them just as well, or even better, than a house ever did.

And why not? The advantages are many and varied; here are just a few of the reasons why an increasing number of home buyers are choosing to swap a backyard for a balcony.

1. Location

Location is the key when it comes to apartments. Many of Melbourne’s newest apartment developments are located in desirable inner-city suburbs where house prices are skyrocketing – for some buyers, choosing an apartment means they can live in an area where a house is unaffordable. These are suburbs with plenty to offer residents – proximity to the CBD or the beach, and real ‘walkability’ with facilities and services a quick stroll from their front door.

2. Lifestyle

Another upside of the location is the lifestyle apartments frequently offer. Being close to the action means that everything is literally at your doorstep, from bars and restaurants to pubs and theatres, sporting facilities and parks. It’s a totally different atmosphere to a house out in the suburbs, and one many people will happily sacrifice space to be a part of. In addition, apartment dwellers are increasingly using public spaces as extensions of their home – treating a favourite cafe like an office or second living room, and taking the dog to the local park for a game of fetch.

3. Maintenance

When it comes to an apartment, expect less maintenance than with a house. First off, they tend to be smaller, meaning less upkeep and cleaning. In new developments, it should also mean you’re moving into a brand new facility built to the very latest safety and construction requirements. In addition, without a garden there’ll be no weeding or lawn mowing – upkeep of any communal green areas is the responsibility of the body corporate. Likewise, any maintenance issues with the building at large will be handled by the body corporate.

4. Amenities

Apartment developments may come with facilities that you, as a resident of the building, have access to. Things like pools, gyms, roof decks and entertainment rooms are common, but some buildings will also offer child care, pet-sitting, laundry or car washing services. Making use of these communal areas can be a great way to meet the neighbours, too.

5. Security

An apartment complex offers a certain amount of security – not just anyone can get in. You require not only a key to get into your own apartment, but a swipe card or access code for the building entrance. You may also need the same information to use the lifts. Larger buildings may even have staff at the door, and car parks, the lobby and possibly hallways or communal areas may be monitored by CCTV.

6. Sustainability

Smaller spaces mean apartment owners tend to own less (so less goes to landfill), and use less heating and air conditioning. Apartment owners can also benefit from the heating and cooling activities of their neighbours – if you’re sharing a wall with someone who’s cranked up the heat, yours doesn’t need to be so high. On top of that, more and more apartment buildings are being built with sustainability in mind.

7. Affordability

As pointed out above, an apartment is likely to be cheaper than a house in the same area. Having a small space means power costs are likely to lower. It’s also possible to cut down on car use, since many apartments are in areas where walking and catching public transport is a feasible option.

Apartment living offers some wonderful benefits and is definitely a lifestyle worth considering – in the coming weeks, we’ll take a look at the pros and cons of buying off-the-plan apartments as opposed to established dwellings.