The benefits of apartment living
In decades past, if you spoke to anyone about the great Australian dream, chances are it would include a house in the suburbs, a handful of children and pets, and a neatly manicured backyard. It sounds idyllic, and for many people, it’s still very much a goal.
However, as we progress further into the 21st century, more and more young, upwardly mobile Australians are choosing to live right where the action is – the central hubs of our capital cities. Particularly in Sydney and Melbourne, population density in the CBD is growing, according to 2011 census figures analysed by the Australian Bureau of Statistics (ABS).
If you speak to a buyer’s agent in Sydney or Melbourne today, you’ll likely be presented with an array of inner city apartment options – you might even see more available than private house sales in the suburbs.
Should current trends continue, Sydney is on track to have just as many residents living in apartments as in suburban homes in the next 40 years, according to the Sydney Morning Herald. So what are the big drawcards for apartment living?
You can actually save money living in an apartment, on things like transport expenses.
Proximity and amenities
Ask any property agent, one of the biggest selling points of apartments is their location. Being able to live close to, or even right inside, the CBD has a number of great benefits. You’re never far from almost anything you need, whether that be shopping, services or your place of work.
Along with this, a lot of apartment complexes in Australia’s capital cities have their own amenities available to residents. It’s not uncommon to find convenience stores, gyms and swimming pools, even communal gardens somewhere in the building, meaning in some cases you won’t ever have to leave to find the things you need.
The scale of the amenities on offer will depend on the age and level of luxury in your complex, and the more you’re able to pay, the more you’re likely to find. That said, you can actually save money living in a CBD unit, on things such as transport expenses.
Joining a community
In many cases, a person might choose to purchase an apartment in the city because they work in the city, are single and have no need of the space offered by a suburban home. While so much emphasis has been placed on families buying homes in Australia, individuals and couples are also part of the general house-hunting populace.
Should you wish to live alone or with a partner, a one or two-bedroom unit could be exactly what you’re looking for. It may seem like a lonely existence to some, but that’s where another benefit of complex living comes into play – the sense of community.
Modern complexes in Sydney and Melbourne can potentially house hundreds of people, all uniquely connected by their home address. You can choose to participate in the social aspect of apartment living as much as you wish, but with so many similarly minded people around, you’re bound to find common ground with some of your neighbours.
Free yourself from maintenance
One of the challenges of owning a house is keeping on top of any work that needs to be done. Anything from general cleaning or wear and tear to large maintenance and extensions is your responsibility, and managing it all can be a time-consuming – not to mention expensive – endeavour.
Wouldn’t it be nice to rid yourself of these demanding burdens once and for all? If you choose to buy an apartment, you can!
Any emergencies with your services, such as plumbing or electricity, will be taken off your hands.
As part of a complex, in most cases you will only be responsible for what’s inside your unique space, and even then things like structural issues should be dealt with by the owners of the building itself. Any emergencies with your services, such as plumbing or electricity, will be taken off your hands.
As an owner of part of your building, you’ll likely find yourself a member of an owners corporation, which might cost you an annual fee to cover administration and other costs. For that price, you get to have a say in the day to day management of the complex, including disputes, maintenance and the use of shared space.
Finding an apartment with a buyer’s agent
If any of these aspects of apartment living sound like you, then perhaps it’s time you spoke with a buyer’s agent about finding your own space in some of Sydney, Melbourne or Brisbane’s most attractive complexes. Since 2009, Cohen Handler have been helping people find the new home of their dreams, and our expert buyer’s agents have the inside information to guide you every step of the way.
Make an appointment at one of our offices today, and you will be well on your way to finding the perfect apartment to meet your needs.