Choosing between buying a house or an apartment depends on your financial situation, your lifestyle as well as your overall goals. While some people prefer the bigger space of living in a house, others prefer the practicality of inner-city living. From price to space and maintenance requirements, here are six good reasons the majority of Aussies prefer owning an apartment complex high up in the sky as opposed to owning a house and a piece of land.
1. Easier entry into the property market
Renting is widely recognized as being cheaper than purchasing a home, as you do not need to pay for the ongoing maintenance of the property, council rates, and strata fees or interest rates on a mortgage. Apartment living, in particular, is even cheaper than renting a house. If you’d like easier entry into the Sydney property market, looking at apartments for rent in Sydney would be a great start.
2. Convenience and community
Apartments for rent are typically located closer to city centers and offer the convenience of urban living and efficient transport. In addition, you’d be in a building shared by other residents, so there will be more of a community feel than what you’d get by renting a house. Many apartments for rent also come with shared outdoor spaces which are great for relaxing and socializing.
3. Security
Apartments for rent offer a lot of security compared to the average house. From CCTV cameras security doors and parking to keycards and concierge in newer developments, apartment living offers a lot of security and peace of mind. Importantly, if there’s ever an emergency, you’d be glad to know that help is only a door away.
4. Amenities and facilities
Apartments for rent will typically offer communal facilities and amenities such as communal gardens or rooftop terraces, pools, entertainment rooms and gyms. Some newer buildings also offer laundry, childcare, and car washing services.
5. No maintenance hassles
When it comes to maintenance, apartments for rent typically have little to no maintenance costs or expectations involved. Apartment complexes generally have smaller, simpler green areas that are usually looked after by professional gardeners and tradespeople.
6. High-rise views
Unlike a house at street level, apartments for rent offer high-rise living and the views associated with living in a taller building. Whether it be a district, city, parkland or water views, there’s plenty of choices. If you love balconies, rooftop terraces, and seeing a wider frame of the horizon, apartment living can give you just that.
*Please note information from this article was sourced from The Property Investors Alliance