Take a quick look around your home. Are you using every bit of it, even incorporating clever storage solutions to maximise every inch? Or are there perhaps parts of the home you haven’t even stepped foot in for a while? Not to mention that overgrown section of the yard you’ve put into the too-hard basket for now.
It’s traditionally been the great Australian dream to own a home with as much space and lifestyle extras as your budget allows. But is bigger always better? Our Sales Consultant, Tyran Murphy, says that having more space in your home doesn’t necessarily mean living larger.
“Something we hear often is people thinking that having a larger home makes it a better long-term lifestyle decision. But sometimes, larger homes don’t have as much thought behind the actual design, so homeowners end up with a lot of space that just doesn’t get used. Whereas a smaller footprint, that’s well designed, can make for a much better home in the long run,” he says.
Traditionally, people choose to downsize for retirement after the kids have flown the coop and you don’t need as much space. But more people are embracing apartment or townhouse living and realising there are plenty of benefits to downsizing.
One of the big drivers recently – property prices!
“A smaller home generally comes with a lower price tag. Often this means getting into a more desirable location, closer to work and amenities, and within modernised complexes, not having to compromise on style,” says Tyran.
And property prices aren’t the only way a smaller home is kinder on your budget. They’re cheaper and easier to maintain or renovate, and you’re most likely going to decrease your energy bills—both because you have less space to heat and cool, and sharing a wall with your neighbour is far more energy efficient.
But it’s not all about the money. As dedicated townhouse and apartment-dwellers know, there are plenty of other benefits to downsizing.
Smaller spaces are much easier to clean, meaning you’re free to spend more time doing other things, such as enjoying all the amenities at your fingertips. Many complexes come with an entertaining area, pool, gym, barbecue area, and some even come with a theatre, sauna, shared dining room and concierge. Then there’s the security factor.
“Another thing people quite like about apartment living is it’s great if you love travelling. For those wanting to go overseas for six to eight weeks, it’s just a matter of locking the door. You’ve got neighbours, and often complex security, so it’s much easier to set and forget. Plus, you won’t come home to an overgrown garden.
“Not to mention, many apartments give you some of the best views in Canberra,” says Tyran.
With housing stock levels remaining low in Canberra, if you’re on the hunt for your dream home and struggling to find it, Tyran says it pays to consider higher-density housing options.
“Apartment and townhouse stock levels have been increasing over the past couple of years, especially those based in desirable locations such as the inner South and Woden, which are becoming less affordable from a house-buying perspective. So, if you’re thinking of downsizing your home in Canberra, you do have more options to choose from!” he says.
Interested in downsizing your home in Canberra? We’ve got just the property for your next move! Explore our available listings and get in touch to speak with our experienced team today.