1. Low cost
Apartment living can be much more cost effective than house living for both bills and rent. Heating and cooling a smaller area will save money on your gas and electric bills. The rent is usually much cheaper on apartments too, compared with a house or a mortgage.
Apartments can also be quite a sustainable option because with so many people living in close proximity it means that apartments retain heat from other apartments, which reduces the amount of heat you use in your own.Your winter energy bill will be much cheaper than if you were living in a house. The newer your building, the more energy efficient it is likely to be.
2. No maintenance
If you have a problem in an apartment that you rent, you can usually call the property manager and have someone else deal with the issue.
Gardening is another major factor to consider. Most apartments don’t have private gardens, only small balconies, which means that if you live in an apartment your weekends can be spent doing whatever you please rather than mowing lawns or planting bulbs.
The grounds of apartment blocks usually have a maintenance person who takes care of the communal building gardens which means you won’t have to spend your time weeding garden beds.
3. Increased safety
Most apartments have several layers of entry. A main door, a side door or a fire door, then the door of your apartment.
It’s more difficult for potential thieves to get access to your home in an apartment, particularly if your apartment has a foyer or secure front entry system.
There’s also the benefit of living in close proximity to others. It’s trickier for a thief to get large valuable items like TVs past several other apartments and out the communal front door without witnesses.
4. Extra amenities
Apartment blocks often come with amenities that you wouldn’t normally get if you rentahouse, like gyms, pools, rooftop entertaining areas, BBQ areas, laundry rooms and secure storage cages. Having a gym and pool on site is really convenient and will save you money on gym membership fees.
BBQ areas are great for entertaining and will save you having to invest in expensive outdoor entertaining equipment.
If you live in an urban area one of the best perks of apartment living is the car park. Street parking in urban areas can be a nightmare and apartments often come with secure underground parking.
Having a secure car park will probably save you money in car repairs too. I know from personal experience that parking your car on the street in a high density area can be really expensive – from fixing minor scrapes and dings to full on break-ins with smashed windows.
5. Low commitment
As the rent is generally lower on apartments it means that you’re able to move around whenever you like without being tied to a house with a mortgage. You’re also able to afford to live in higher socio-economic areas that you may not be able to afford to rent or buy a house in.
Carly Jacobs, Realestate.com.au, 10 November 2014