Think it through before you commit
So you’ve decided to move into a new space and are considering an apartment – but everyone around you has something to say about that, both good and bad. Living in an apartment, like a landed property, has its pros and cons. So it helps to know some of them before making a decision.
Here are some of ours:
Pros
1. Great Amenities
Most apartments come with common facilities like a gym and swimming pool, perhaps a playground and even an event space. So you won’t have to leave the property to take a swim or pay extra for a gym membership.
2. Lower utility fees
Generally, since apartments tend to be smaller than houses, your electricity needs will be lower as well. And if you’re living somewhere on the top floor of a high rise, you’ll be blessed with a natural breeze, reducing your reliance on air conditioning.
3. Great for flying solo
Apartments come in a range of sizes. So if you’re looking for a space just for yourself, you can opt for a studio or duplex which is made specifically for one or two people. In contrast, you’d be hard pressed to find a grounded property that’s small enough for just one person.
4. Security
Nowadays, apartments are all fully monitored with CCTV and trained personnel 24 hours a day. Visitors are checked in and you can feel secure in the knowledge that the entire property, from your own unit to the common areas, is well guarded.
5. Lower maintenance required
Coming back to the size of an apartment, there’s no land for you to tend to which reduces maintenance costs. Apartment units tend to be tinier than their landed counterparts, so there would be smaller surfaces to keep clean.
Cons
1. Maintenance fees
When you buy an apartment, you’ll have to take into account the monthly maintenance fees that go to the management body. That money goes into maintaining security and common areas, like the pool and gym, but it can be quite expensive, especially in newer properties. So if you’re planning on retiring in an apartment, you’ll have to make sure you can continue to pay the maintenance fees long after your loan is paid off. Of course, you won’t have to worry about this if you’re renting.
2. No garden or land of your own
If you’re a fan of nature, then this could be a real deal breaker. Sure, you can pack plenty of potted plants on your balcony but there’s nothing like the smell of grass after the rain or being able to walk out of the house into a little corner of nature that’s all your own.
3. Elevators
As convenient and necessary as elevators are in apartment buildings, they’re still a pain to deal with. Living in an apartment means having to haul your shopping loot from the car to the elevator and then to your unit, every single time. And if you have children, they’ll have to carry an entire picnic bag every time they want to head down to the pool or the playground. Throw in some bicycles into the equation and you’ll have a real reason to turn into a couch potato.
4. Noisy neighbours
Unfortunately, living in an apartment means dealing with more neighbours than usual. You may have friendly neighbours on your left and right, but then you might get stuck with a heavy metal-loving punk just above you. Noisy neighbours are part and parcel of apartment living and it’s one of those things that you just have to grit your teeth and bear with.
5. Smaller spaces – unless you’re a multimillionaire
As mentioned in the pros section above, apartments tend to be smaller than landed properties – unless you’re a multimillionaire, in which case you can afford a 1,200 square feet apartment suite. Though cleaning a smaller space is more manageable, it can also tend to feel cluttered and compact. There’s just not a lot of room for manoeuvring unless you adopt a minimalist lifestyle. If you’re claustrophobic, maybe stay away from apartments.