Pros and Cons of Living in an Apartment

Pros and Cons of Living in an Apartment

When you come to buy a home one question you will need to answer is whether you want to live in an apartment or a house. Living in an apartment is often the cheapest option but is it worth it?

Apartment living has its benefits and drawbacks. Before you sign up, consider these pros and cons.

Pros of living in an apartment

Low-maintenance

Apartment living doesn’t require much maintenance. You don’t have to mow lawns, you don’t have to worry about cleaning your garden, gutters or the driveway. You can expect the building managers to handle all the maintenance since you are paying body corporate fees. Less maintenance and responsibility will give you more time to enjoy and relax.

Amenities

Apartment complexes offer shared amenities such as swimming pools, gyms, and clubhouses. As an owner, you are entitled to use these amenities.

Good location

A desirable location is usually near the CBD, public transport, shopping hubs, and parks. A property that is situated in a good location can be quite expensive. Choosing to live in an apartment instead of a house will let you live in a desirable location at a more affordable price.

Cheaper utilities

Since apartments tend to be smaller than houses, apartment living can offer you cheaper utility bills. 

Cons of living in an apartment

Limited space

Apartments generally offer less space than houses. There is a lack of outdoor space, and extending your home may not be possible. Owning many things can make your space look untidy. If you have kids or many pets you might want to rethink living in an apartment because of its limited space.

Privacy and noise issues

In an apartment, the space between you and your neighbours is small. You may be able to hear the noise from your neighbours next door, below, and above, especially if the walls are thin. If you love to entertain at home, this may be an issue because most apartment buildings will have rules regarding noise.

Strata fees

Strata fees or body corporate fees are the payment for the maintenance of the building’s common areas such as the elevator, parking area, lobby, and amenities. This is an additional payment for living in an apartment.

Limitations on design

Most apartment buildings have limitations on renovation. You may not be allowed to knock down a wall, install new flooring, or upgrade the bathroom. This will depend on the policies of the building. This may be frustrating if you like to personalise the apartment according to your style and preference.  

Apartment living may not be for everyone. This will depend on your situation, needs and lifestyle. So weighing up the pros and cons will help you in determining whether or not this can work for you.

Living in an apartment can pave you the way to build your savings over time so you can upgrade to buying or building a house.

 
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