Benefits of Living in an Apartment
In this era of economic stress and rising prices, many have nearly abandoned the dream of homeownership. Others, particularly those who are aging or weary of constant home maintenance and upgrades, are seeking a simpler way to live.
Build-to-rent projects are on the rise in Australia. With much of the population forgoing a rural lifestyle and moving to urban areas, apartment living has become a popular option for many. Industry experts say it’s growing and becoming a viable investment and rental option.
If you are looking for an apartment in Sydney for rent, what makes these projects so attractive?
Low Cost
Affordability of home ownership is recognised as among the worst in the world. Sydney ranks second in the world for the least affordable house, beaten only by Hong Kong. With rising home prices and interest rates, the situation is not likely to improve in the foreseeable future.
Apartment living is much less expensive than owning a home. Once you combine the cost your of mortgage, insurance, and taxes, renting an apartment is a bargain.
Since most apartments are smaller than stand-alone homes, utility costs are also less. When you are considering downsizing to apartment living, knowing when to sell your current property is very important.
Maintenance
With apartment living you are not dealing with maintenance issues. Most major maintenance issues are dealt with by the property manager or developer. You still have to deal with your appliances, but major headaches like plumbing and electrical are somebody else’s problem.
There are no gardening issues, raking leaves, or cleaning gutters. There are many instances where not having to deal with constant home maintenance allows you to spend more time doing the things you enjoy. Travelling, playing golf, and even spending more time on your career is possible when you aren’t tied up keeping your house in top shape.
Increased Safety
Most apartments have several layers of entry. Today most buildings are protected with key card systems, security cameras and on-site security personnel.
Strangers can’t lurk in the bushes looking for a way to break into your home. In most cases, strangers stand out in an apartment setting. In the event there is an issue, your neighbours are just across the hall, and on-site security can quickly respond.
Amenities
A major draw of build-to-rent projects is amenities. Swimming pools, BBQs, exercise gyms, community kitchens and gathering spaces abound in modern apartment complexes.
The spaces are all designed to allow you to interact with your neighbours and build a community. Often times the building management will organise activities for residents to participate in and get to know the people in the building.
In urban settings, parking is one of the best perks of apartment living. Sydney is notorious for strict parking regulations, and having secure parking is a dream.
Apartment and build-to-rent projects solve many problems for both young people just starting out and more mature folks who are looking for a more relaxed lifestyle.
With vibrant communities, safe spaces and the peace that comes from living within your means, more and more Australians are considering the switch to apartment living.
