The pros and cons of apartment living
Category Expert Insight
Apartment living is a growing lifestyle trend in South Africa due to a number of reasons. There is a significant amount of migration to the bigger cities as people look for economic opportunity and that means a significant rise in demand for homes. At the same time, there is limited land space, especially in certain areas such as the coastal belts and areas close to transport networks. The land space must therefore be maximised.
At the same time, modern living has evolved significantly over the last ten years and with the rise of the millennials and technology-driven lifestyles, there is a big focus on cutting down on unnecessary travelling and maintenance time and money spent.
Apartment precincts also tend to be in areas with added lifestyle amenities such as restaurants, gyms and fitness clubs, shopping facilities and much more.
When deciding to live in an apartment, there are a number of pros and cons to weight up. Seeff gives some advice:
Pros
- Convenient - modern lifestyle benefits including lock-up-and-go convenience
- Low Maintenance - most complexes have a Body Corporate and Managing Agents who take care of the maintenance of the common areas
- Security – the secure lifestyle is a big draw-card for apartment living
- Amenities – many complex offer extras such as a swimming pool, but most are also close to excellent lifestyle amenities
- Investment – most apartments make excellent rental investments, so when you decide to upgrade, you can always hold onto your apartment and rent it out
Cons
- Compact – apartments tend to be smaller, offering a more compact lifestyle
- Conduct Rules – there are rules for apartment complexes that regulate how you live in relation to other property owners and you would for example need to keep noise levels in check
- Privacy – because you are living in close confines to others, you are likely to experience some privacy and noise irritations from time to time, but generally these are well managed
- No pets – very few apartment complexes allow pets, so it can be a problem for pet lovers
- Limited – because apartments are generally fixed in size, if you find that you have outgrown the size of your apartment, you will need to move elsewhere
Generally, apartments offer a modern way of living and in many areas provide the ideal home for young professionals as well as later in life, for empty-nesters and retirees looking to downscale. They are also ideal investments as well as second and holiday homes.
Author: Gina Meintjes
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