|Apartment living is becoming a more popular lifestyle choice for Western Australians.
Apartment living has many advantages, but it is not for everyone. If you are thinking about this style of living, there are a few things to think about as the pros and cons of apartment living compared to traditional detached housing.
ACCESS AND AFFORDABILITY
Many apartments are located in Perth’s inner suburbs with great access to shopping, restaurants, entertainment and cultural facilities. Apartment living can provide modern and affordable housing options to people who desire a near city location.
REPAIRS, MAINTENANCE AND UTILITY COSTS
Apartment living generally offers lower repairs and maintenance bills and lower gas and electricity tariffs and water rates. And there is less cleaning and no gardening to worry about.
ACCESS TO TECHNOLOGY AND OTHER FACILITIES
Many modern apartments include smart wiring, internet access, health clubs and swimming pools making leisure activities very convenient.
Medium density living can offer the security and comfort of close proximity to other residents, as well as secured off street car parking. Despite these benefits apartment living is not for everyone. Generally apartments are smaller than detached houses, with less storage space and limited car parking (including visitor bays).
Noise pollution is an important issue in apartment style living. Living in close proximity to noisy neighbours can be infuriating. New building laws governing noise minimisation are soon to be introduced into the Building Code of Australia to reduce this problem but this will add to building costs.
Buyers of new apartments have a choice of buying “off the plan” (before construction commences) or in an existing complex. Buying off the plan can present the opportunity for substantial capital gain during construction even before you move in. You should check whether the apartment is covered by home warranty insurance (covering structural defects after completion).