With a shortage of small family starter homes and an ageing population, apartments are fast becoming a popular choice for both generations. The appeal is obvious; low maintenance, open plan living spaces, affordable prices with a build style and finish for each price tier, writes Oliver Rayns, Director at Clarendon Park’s Oliver Rayns Estate Agents.
FIRST-TIME BUYERS
Apartments cater for young working professionals, looking to get on the housing ladder and offer the freedom of flying the nest. These homes are typically located in major urban areas, within walking distance of hundreds of employment opportunities, vibrant nightlife and retail centres. Prices typically start at £100,000 for trendy studios and £135,000 for one-bed apartments.
LOOKING TO DOWNSIZE
On the other end of the scale, many retirees might be looking to take the step towards downsizing from the family home and want a low maintenance, luxurious apartment. Developers understand that the move can be daunting, so try to build with that in mind. Typically, with lift access to all floors, secure parking, communal gardens and terraces, they offer a best of both worlds mix of the former family home in a comfortable living space with less to clean!
INVESTMENT MATERIAL
Investors often look to apartments as a place to invest their money. Typically offering higher yields (7%+) than equivalent houses and with many young professionals looking for a place to live without the ties of buying, rents are usually high and can range from £450-1,300 per calendar month.
HERE ARE A FEW OF THE POSITIVES OF APARTMENT LIVING: NO DEAD SPACE
In a large house, you might have one or two rooms that go largely unused. One of the best things about small-space living is that every space has a function, down to the last corner. So whether you install a home office in a bedroom or living room corner or turn an awkward space into storage, you’re likely to get the most out of your small home.
THERE’S LESS TO CLEAN AND MAINTAIN
One of the benefits of small homes we can probably all get behind is that there’s less to clean! It’s easier to keep on top of maintaining a small home, your cleaning products will go further and you’ll have more time for other things — like new and creative ways to make the most of your space.
SENSE OF SECURITY
An apartment building typically offers a certain amount of security – not just anyone can get in. You require not only a key to get into your own apartment, but a fob or access code for the building entrance. You may also need the same information to use the lifts. Larger buildings may even have staff at the door, and car parks, the lobby and possibly hallways or communal areas may be monitored by CCTV.
EASE OF AMENITIES
Being close to the action means that everything is at your doorstep, from bars and restaurants to pubs and theatres, sporting facilities and parks. It’s a totally different atmosphere to a house out in the suburbs, and one many people will happily sacrifice space to be a part of. In addition, apartment dwellers are increasingly using public spaces as extensions of their home – treating a favourite cafe like an office or second living room, and taking the dog to the local park for a game of fetch.
If you are searching for a luxurious loft apartment, a trendy new development or a distinctive property with views over Leicestershire, Oliver Rayns have a selection of apartment opportunities throughout the county so please browse our website to discover what is available www.oliverrayns.com
Oliver Rayns, 115 Clarendon Park Road, Clarendon Park Leicester, LE2 3AH T: 01162 960 940
