We talk a lot about home living on this blog. But today we want to take a look at another form of living. One that has become increasingly popular as cities develop upwards instead of outwards. Apartment living.
Today we are going to be looking at the big differences between Apartment living and Home living. We will cover everything from the physical differences down to the contractual and monetary differences. The laws and regulations surrounding these two types of living are often vastly different. So it is important you know what you are getting into with either.
This will also help anyone looking to invest in property. We will cover some of the legal differences between ownership and renting these properties.
If you are looking to buy a property, for living or renting purposes, there are a few things to need to be aware of. When it comes to houses things are pretty straightforward. Often you will purchase the property through a real-estate agency or direct from the current owner. Or the properties could be bought at auction. You will then be given the deed and you are the new owner.
With properties like apartments, it isn’t as simple. Chances are you won’t be able to outright buy an apartment. If you did want to, you would need to buy the building or the cluster of apartments. This is referred to as a Strata. This is where the biggest difference in ownership comes in. Strata management comes with its own set of regulations and rules that differ from house ownership. So it can be worth hiring a professional strata manager to deal with all the red-tape surrounding it.
Living in an apartment vs a house is very different as well. And you need to be aware of the differences before you make your choice. When it comes to decorative freedoms, often a house is the best choice. Especially if you are buying the property outright, you will have complete control over how you decorate the property. This often includes changing the flooring and wallpaper.
Whereas an apartment often has restrictions about how you can decorate. Sure you can bring in any furniture you want or hang up posters, providing you don’t damage the walls, but chances are you will be stuck with the same flooring, wallpapers, and curtains as when you moved in.
Apartment living is often considerably cheaper than home living for a number of reasons. Firstly, you won’t have to pay property tax on an apartment as that is dealt with by the building owner. Whereas a home will come with property or council tax. An apparent is often cheaper as well, depending on the area. With less to pay out for services such as plumbers and electricians.
Many studies have been conducted on the effects of raising a family in an apartment vs a house. The general conclusion is that a house is better for a larger family without a doubt. Whereas a smaller family, maybe a couple and one child, could easily thrive in the right sized apartment.
A larger family would struggle to thrive in an apartment. Studies show developing children do better with more space, both inside and out. This is why a house works so well for raising children. Pets are another issue you will need to be careful of. A lot of apartments have a no-pets policy. Due to the amount of damage a pet can cause and the mess they leave. Whereas houses are as pet friendly as you want them to be.