7 Ways Apartment Living Saves Your Wallet

Apartment living has many financial benefits and enviable perks. The costs of living and upkeep in an apartment is far more affordable than a house, allowing you to save time and money doing the things you love.

1. Size 

The smaller floor plan of an apartment helps to reduce the gas and electricity bills as there is a less space that needs to be heated and cooled. Those apartments with an emphasis on open-floor plan living, will find that less units, and less power, will be needed to keep your home at the desired temperature. 

2. Location 

Living in a good location isn’t cheap, but more many, location is the core to good investment. Apartment living is your ticket to living in that area you want to live in, but couldn’t previously afford. Apartments can offer you the amenity and quality a home would normally bring, but for less cost and prime location.

3. Low Maintenance 

The perks of apartment living is that there is far less upkeep to deal with. Instead of mowing the lawn or weeding on your Saturdays, you can now go bike-riding or wind-surfing instead! For those that love gardens, there are a lot of developments with communal gardens, or large terraces where urban-gardening is possible. Remember, that communal gardens are professionally maintained and are included in your body-corporate fees.

4. Security/ Safety

Without a doubt, there is definitely increased safety in apartment living. Nowadays, apartments are very secure, with numerous doors, swipe cards, codes, intercoms, lifts, CCTV camera’s and alarms. Thus, this makes it more difficult for potential burglars to access your home. Spend less time worrying if you locked the door, or closed the garage gate!

5. Sustainability:

The sustainability of apartment living also helps you to save money! For one, you accumulate and own less due to limited space. You will rely less on heating and air conditioning, as you benefit from the insulation that other apartments provide. The sustainability benefits of apartment living ultimately aid in your smaller carbon footprint, as the central location of most apartments can often remove the necessity of owning that petrol-guzzling car of yours.

6. Lifestyle/Community 

The smaller space of an apartment drives you to socialise, seek entertainment outside of home, get out amongst the action of the city, connect to your community in your apartment block and see friends. Living in an inner city apartment will help save you money on petrol and taxis (or uber), leading you to walk more and sit less. Think of all those grey hairs you will prevent without that peak-hour traffic!

7. Amenities 

The enviable perks of the amenities within apartment blocks include: public spaces, gyms, pools, rooftop space, BBQ areas, laundry rooms, storage cafe and car parks. The many facilities available to you within apartment living is endless and ultimately saves you a lot of money! There is no need to pay for a gym membership, no need to buy a BBQ, no need to buy washing machines, the car park saves you money in parking permits, parking fines and car repairs as you don’t have to park on the street.

Apartment living is new to Melbourne, but its adoption rate is significantly increasing. With these tips, you will see how much money you can save, and how much you can change your life.