What do Different Age Groups Look for When Renting?
What do Different Age Groups Want?
We all want a fantastic home, but across the varying demographics in Australia what that means can change significantly, especially when it comes to renting. Someone in their 40s who is settled with a partner and children will likely have very different renting goals from someone who has just left home and is looking for their first flat.
So what is it that each age group wants? Understanding this can help you a great deal, especially if you’re someone looking to buy a property and let it out to tenants.
For young people, their rental choices are largely dictated by budget. Those attending university may only be able to work part time, and those just starting out in the workforce may not have the cashflow to afford a high-end rental property.
On top of this, Gen Y loves to be active in the city, and are looking for the best of both worlds – central location and affordability. This is often addressed through shared accommodation, or flatting. Homes with four or more bedrooms allow young people to split a lot of the costs of living that would otherwise put properties out of their reach.
The Wall Street Journal quotes the Urban Land Institute as suggesting Gen Y want compact urban property to rent out, so if you’re looking to target this market, owning apartments or small townhouses could be a good move. Keeping them close to public transport and near central hubs will ensure a constant flow of young people drawn to your property.
As people grow older and start families, priorities change. The hustle and bustle of city life is no longer as much of a priority, especially if good infrastructure means the city and work are only a short commute away. This is traditionally where people begin to look at owning a home but with the rising cost of housing, many more Australians could be looking at renting. We buy houses in Winter Garden Fl
4 Tips for Fantastic Apartment Living
Apartment offer a great lifestyle
Get Off on the Right Foot With Your Landlord
While living in a standalone home can be a fantastic way to raise a family, it looks like multi-unit complexes are currently on the rise. In a Housing Industry Association release from January, chief economist Harley Dale noted that multi-unit property sales were on the rise, and unlikely to stop anytime soon.
So, with units on the horizon, it is time to take a look at some tips for getting the most out of the apartment lifestyle.
If you are renting an apartment, then making sure you have a good relationship with your landlord is key. You will be beholden to them for rent and maintenance, so starting well and staying in each other’s good books will make rent negotiations and getting things fixed much easier. Of course, their legal obligation is to complete repairs, but a healthy landlord-tenant relationship can reduce conflict around getting repairs done quickly.
The same goes for neighbours. Build a good relationship with those living next door and you may be able to avoid the noise conflicts that plague so many people.
Economize the Space
One drawback of apartment living is having less space than in a home. Before you move in, it might be time to get rid of possessions you do not use anymore, including appliances that could already be provided. Check if a fridge or laundry appliances come with your apartment first though!
Additionally, you may find that you have a common laundry or living space with others. Find out what you need, and ditch the rest. Speaking of which…
Living in an apartment can sometimes afford you the opportunity to use great amenities like a pool or spa, without the prohibitive cost that comes with buying or renting a home with one. All of the luxury, at hardly any of the cost.
The central location of many apartment blocks can also place you near parks and city attractions that you may not be able to find a home near.
If you live in an apartment block, a security breach is more than someone just climbing through an unlocked window. There are numerous possible security protections, with swipe cards increasingly the norm, many neighbours in the vicinity, security cameras and personal door locks. You and your belongings can feel incredibly safe with apartment living.
Choosing to buy or rent an apartment offers you a great lifestyle, and often one closer to the city than you may be able to get when looking for a house. Consider lifestyle preferences, and if the city life is for you, absolutely look into an apartment. Sell your home in Port Orange Fl
Apartment Makeover! Styling & Organizing My Home