Australia’s love affair with traditional quarter-acre blocks is on the wane. Two trends are driving this change in sentiment. Firstly more of us are falling in love with inner-city apartment-centric lifestyles. Secondly is the emergence of the smart home market.
If living in the suburbs is your idea of a horror show come to life, you should think about the benefits of inner-city apartment living. For many people living in our major capital cities, the great Australian dream is increasingly unaffordable. However, despair not, there is a considerable upside to inner-city living that people tend to overlook when obsessing over owning our own home in the suburbs.
Smart Homes Are A Real Thing
Thank you Internet of Things (IoT)! With between 50 to 200 billion devices projected to be connected to the Internet by 2020, our “home” of the future of is approaching way faster than expected.
Australian homeowners are beginning to embrace this new technology. Truth is, every home and apartment in Australia is going to be connected to the IoT at some point ready or not!
For owners, the benefits of smart apartments are simple. Reduced utility bills thanks to automated HVAC and lighting systems, increased security with smart locking and monitoring technology and greater accessibility.
A large chunk of Australia’s apartment market is young and super tech-savvy, and that chunk will continue to grow as baby boomer numbers decline.
Smart Urban Design Is A Thing
As Australia struggles with urban congestion in its capital cities and a shortage of new homes, smart urban planning is offering a blueprint for sustainable living where Australia’s population is predicted to reach 35 million people by 2050.
Not only is urban living more sustainable than our traditional suburban sprawl, studies also show inner-city dwellers tend to be more active, more socially engaged in their community and both happier and healthier than peers living in the suburbs
Then there’s the convenience of living near work, cutting down on the dreaded daily commute on Australia’s clogged highways and public transport. Restaurants, shops and public transport are also closer, adding to the vibrancy and culture of living in the inner city where a plethora of entertainment options ensure there is always something to see or do.
7 Benefits Of Australian Inner-City Apartment Living
Buying an apartment in place of a traditional house is an affordable option for getting into the housing market. It can also enable owners to live in a fabulous location that may otherwise be out of their price range.
Inner-city living can also be a super convenient option for twenty-somethings or singletons who work and play in the city.
2. Proximity To Public Transport And Amenities
Urban living means casual living typically within strolling distance of public transport, shops, recreational and cultural facilities and schools. All this walking rather than driving contributes to inner-city dwellers tending to be more active and healthier.
Close proximity to public transport also reduces the pressure to own a car. It also reduces the number of cars in the typical family. This alone can save you thousands every year on registration, car finance and maintenance costs, as well as substantially reducing your carbon footprint. Yeah!
3. Vibrant Lifestyle
Modern cities are vibrant and dynamic places to live, with easy access to live entertainment, museums, art galleries, cultural events, free festivals such as the Vivid Sydney, the Melbourne Arts Festival and the Brisbane Festival. It’s a major drawcard for living in one of Australia’s major cities.
Moreover, when you live close to the city, you can forget the hassle of driving and trying to find a park. It’s all there for you, close to public transport or right within walking distance.
What you may lose in square-meters of backyard space in a traditional home, you make up for with the convenience of being located closer to the action, which makes it easier to be out and about and cheaper too.
The other significant upside to living close to the city is the drastically reduced commute times. No more sitting motionless in your car for hours at a time waiting for the traffic congestion to clear! Apartment living is your gateway to getting more out of every day.
4. Reduced Time And Cost Of Running Your Home
An apartment’s small footprint usually translates into lower energy bills, as there is less space to cool or to heat in winter. Happily, this also contributes to reducing your carbon footprint.
An apartment is more compact than a suburban home so there is less space to clean, saving you time and effort. Similarly, apartment living also encourages smart living as there is way less space to accumulate the dreaded “stuff” that clutters homes, garages and sheds across Australia, saving you money the hassle of dealing clutter and cutting down on domestic waste!
If you’re not a gardening fanatic, apartment living also means you can avoid the regular weekend chore of mowing the lawn and other yard-related maintenance woes. Similarly, most of your major maintenance issues in an apartment complex are taken care of for you by your complex’s Body Corporate. This saves you time, hassle and usually cold hard cash.
5. Fabulous Apartment Facilities
These days, most contemporary apartment complexes come complete with great facilities such as a pool, a gym, rooftop entertaining areas, BBQ areas, laundry rooms, secure storage cages and 24-hour security. Say goodbye to gym membership fees and “hello” to shared green spaces.
6. Secure Parking
If you live in an apartment complex one of the best perks of urban living is your car park. Street parking can be a nightmare and modern apartments usually come with secure off-street or underground parking.
7. Low Commitment
As renting or owning an apartment is usually lower on apartments than a house, you’re able to move around whenever you like without being tied down to a house with a huge mortgage.
If you are renting you are also able to afford to live in higher socio-economic areas where the cost of buying or renting a house may be unaffordable.
Australia’s obsession with homeownership may once have centred on the great Australian dream of a quarter-acre block. However as our major city’s suburban sprawl continues to expand, the traditional white picket fence home now comes with downsides attached. As our population grows, smart and sustainable urban design is leading the way for more affordable and sustainable living. Happily, the good news is it can offer a fabulous lifestyle too.