Gone are the days when apartments were nothing but an attractive option for folks who can’t afford to live in a traditional home. They’re a great option for young buyers who just moved out of their parent’s nests, singles, and married couples who’re still saving up for a house-in-lot. Now, even people who can afford to buy a traditional house opt for high-rise apartment living.
Thinking about living in an apartment? Before turning down an offer by a property buyer’s agent and embracing the sky-high living, check out these benefits and the disadvantages to see if apartment living truly suits your lifestyle.
Advantages of Apartment Living
1. Cheaper overhead costs
First things first: apartments are cheaper. Aside from the fact that rent is generally cheaper than a mortgage, other financial components like upkeep and utilities are also lower due to its smaller space. It usually costs less for heating and cooling, water, and electricity.
2. Easy, low-maintenance living
Are you someone who’s too busy to think about home maintenance? Are you not inclined to mow a lawn, shovel the snow, or plant flower beds?
With nearly all apartments, the landlords or the body corporate services takes care of the maintenance. They likely have a reliable handyman and responsive contractor who can handle problems that may arise. If you have a clogged sink or an appliance that needs repair, help is just a phone call away.
Someone else will also look after the property’s landscaping and gardening – all you need to do is enjoy it.
3. Access to attractive amenities
Living in an apartment complex often brings you access to a wide array of amenities you might not enjoy when buying a traditional home. Amenities include swimming pools, clubhouses, communal barbeques, parking lots, gyms, and a security system.
Need to restock your fridge and pantry? There’s a great chance that a grocery store is just 10 minutes away from your place.
Many apartments are built with accessibility in mind. Apartments tend to be near shopping centers, supermarkets, gas stations, schools, hospitals, restaurants, and other commercial spaces.
5. Stunning views from your balcony or window
If you’re dreaming of living on the 10th floor of a building and have stunning views of the skyline and city lights from your living room, then apartment living might be perfect for you. If you have a balcony, you may enjoy the fresh air while looking at the picturesque views of the city.
6. Perfect for downsizing
Are you a newly graduated college student who’s looking for a place to call home? Do you plan to live alone for the foreseeable future? Or do you live with your partner and aren’t planning to have kids for now?
If you’re seeking a small space that has everything you need – a living room, kitchen, toilet and bath, and a bedroom – and is easy to maintain, you might find an apartment living an attractive option.
7. Suitable for short-term goals
Do you tend to move from one place to another due to work? Do you travel a lot? Do you plan to buy a home of your dreams in the future but you need to live somewhere while you work on your savings? Apartment living makes a great option for people seeking short-term residence.
Disadvantages of Apartment Living
1. Less living space
As previously mentioned, apartment units are smaller. While this is a plus for people who are thinking about downsizing, it can be a major disadvantage to people who crave space. You’re going to be extra mindful about storage units, the size and functionality of the furniture pieces you buy, and the amount of the personal belongings you bring home.
2. Unruly neighbors and the lack of privacy
Hate noisy and intrusive neighbors? I hate to break it to you, but they might be a few feet away from you if you’re living in an apartment.
Since you’re not the only one living in that building, you may overhear neighbors speaking, shouting, singing, and playing loud music. You may see your neighbor’s rowdy kids running around the hallways. You may also smell someone smoking from their balcony, which is just a few feet away from yours.
3. Lack of personalization
Do you love decorating to make your rented space feel like your own? Most apartments are overseen by landlords, so there’ll be strict rules regarding the extent to which you can personalize your apartment. Some of the common restrictions include repainting and drilling on walls.
Author Bio: Carmina Natividad is a resident writer for Bridge to Bricks Property Buyer’s Agent, a leading property buyer’s agent in Sydney. Her fondness for architecture, interior design, and real estate makes it easy for her to write inspiring pieces of content.