Eventually, the time comes when a four-bedroom home in the suburbs is no longer necessary.
Eventually, the time comes when a four-bedroom home in the suburbs is no longer necessary. Many Australians will downsize at some point. Even though it can seem like a daunting concept, moving to a smaller residence has many advantages.
It’s hard to travel for more than a week at a time without worrying about the security of your house. Instead, you have to ask family and friends to check in on your place and, overall, it can seem like a major annoyance.
When you live in an apartment, you won’t have to bother. You’ll have secure access via the main entrance, CCTV and private car parking. Many projects coming to market at the moment even include concierge services and night-time security patrols, so when it comes time to take that much-needed trip around Europe, you can just lock up, and leave!
Inner-city apartment developments all have one thing in common — proximity to modern amenities and public transport. When you downsize to an apartment, you have the opportunity to walk everywhere instead of using your car, if you choose.
This is especially true of mixed-use precincts such as Melbourne Square and Ed.Square. These kinds of developments feature ‘Eat Streets’ with cafés and restaurants on-site, as well as a rich array of resident amenities. From cinemas to virtual mini golf, wellness centres with spas and saunas to wine cellars, you won’t have to travel far to find something to do.
Image: Ed.Square Eat Street
A large backyard is great when you have family and friends who need the space, and your swimming pool used to get a lot of use in the summer. But both can cost time and money to maintain, and if no one is really using them anymore, they can be an inconvenience.
You can choose a ground floor apartment with a gorgeous garden terrace, or an upper-floor home with an expansive balcony if you want a view — either way, you can still garden but it’ll be out of enjoyment rather than necessity.
And if you still love to swim, many apartment complexes come with swimming pools, so you don’t have to worry about constantly scooping leaves out of the water or making sure the pH levels are balanced — just pull on your bathers and jump in!
With developers competing for high ratings from the Nationwide House Energy Rating Scheme, many apartments are designed to deliver lower energy bills. Add in five-star energy-efficient appliances, recycled water and solar panels at developments like Breese Street by Milieu, and you’ll spend less on utilities and more on trying out new nearby restaurants.
Best of all, if you downsize you’ll free up the equity in your home. Put the extra finances into living the life you’ve earned!
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