The benefits of living large in smaller spaces in Canberra
It’s no secret Canberrans have a love affair with large-footprint homes.
But big isn’t always better for everyone, and many have discovered the benefits of more “compact” lifestyles in apartments and smaller townhouses.
Richard King of the Bastion Property Group says the driving factor in the choice of dwelling size is, invariably, lifestyle.
“Typically, smaller spaces have the strongest appeal to first-home buyers and downsizers,” he says.
“And they are often drawn by the accessibility of a location – like the city, a town centre or inner suburbs – and proximity to amenities like cafes, shops, restaurants, gyms and more.”
King says other advantages include affordability, the ability to lock up and leave, reduced maintenance and lower running costs.
“These factors add up to an overall enhancement of owner lifestyles,” he says.
Boris Teodorowych of Boris Property says there has been an evolving appreciation of apartment living over the last 10 years or so.
“Many people have returned or moved to Canberra from overseas where apartment living Is more of a norm,” he says. “For them, it’s often a lifestyle choice rather than a decision around affordability.”
However, Teodorowych says affordability and value for money are gaining a heightened priority in an uncertain environment of increasing rate rises.
“For example, a three-bedroom apartment in an inner-city location might be a more affordable proposition than an equivalent detached home,” he says.
- Lifestyle: The main advantage of “compact” living, most usually expressed in an apartment, is the level of time that is freed up for lifestyle options rather than being devoted to ongoing maintenance tasks.
- Free up capital: While high-end apartments can cost as much or even more than a conventional family home, downsizing can often deliver a timely and welcome boost to the bank account.
- Reduced costs: Smaller spaces generally deliver smaller running costs. One big cost saver is likely to be reduced energy costs. High EERs incorporated into newer buildings can significantly reduce heating and cooling costs.
Check out our top pick of homes on the market:
Griffith
There’s a lot to be said for apartment living, but when you distil all the reasons, the answer is inevitable: lifestyle.
All of a sudden, you have more time for the things that really matter, rather than a never-ending succession of time-absorbing chores.
This newly built Light Street apartment time-saver also enjoys the convenience of a walkable neighbourhood with an enviable position near the bustling Manuka and Kingston precincts.
The two-bedroom dwelling completes the trifecta of advantages with a delightful aspect that takes in sweeping treetop and mountain vistas. These can be enjoyed from the open-plan living, dining and kitchen zone that leads onto a versatile undercover balcony.
Quality is a high priority for apartment dwellers and the benchmark assessment is usually made on the fixtures and fittings in the all-important kitchens and bathrooms.
Neither will disappoint, as attested by a quick review of the kitchen, with its waterfall-edge, designer-stone breakfast bar, quality appliances and plenty of storage. There’s a European-style laundry as well.
The bathroom is also well-appointed, with an oversized shower and stone-topped vanity.
The main bedroom takes in those sweeping views and has its own access to the balcony. There’s also a second space with a built-in wardrobe that can be used as a second bedroom or as a great work-from-home or study space.
This impressive package is completed by a basement car space.
Price guide: $659,000+
Private sale
Agent: Bastion Property Group, Richard King 0477 881 100
Or try these:
Kingston
Price guide: $700,000+
Auction: Noon, June 10
Agent: PURNELL, Nick Purnell 0401 043 142
Braddon
Price guide: $699,000+
Private sale
Agent: HIVE Property, Tom Wiggins 0468 771 763
Kingston
Price guide: $650,000+
Private sale
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