Though I am not mad on the term empty nester, it does describe well the feelings associated with the family home suddenly becoming devoid of its children, notwithstanding that they are generally adults by the time they have flown the coup. The big family home and garden can quickly feel redundant, and as remaining parents, we often have a sense of something missing or not quite right.
However, with a shift in perspective, there is much to look forward to in this new chapter of life. Ahead lies time to dedicate to yourself for once, perhaps continue your education, exercise more, even realise your travel bucket list …. the list is as endless as you want it to be. And the more time you have to focus on new and exciting pursuits, the greater your sense of wellbeing.
The decision to move on from the family home can be triggered by a number of things. It could be the case of too big a house for the parents’ new reality. Or property maintenance fatigue brought about by the tasks you still need to do to maintain your home. It could also be that you wish to free up some of your property assets and have more time and money to pursue lifestyle activities that were just not possible when the kids were at home. So, it is totally predictable that many of us start to consider downsizing once the dust left in the kids’ bedrooms begins to settle.
And if you are going to downsize, think strata living. The amount of extra time you will have up your sleeve when living in an apartment cannot be underestimated. Common area maintenance and repairs, cleaning and rubbish removal are all taken care of. The maintenance budget, insurances, sinking fund contingencies are also all taken care of. If you wish to travel, leaving your home is a far more viable option when it is located in a well-maintained building. Having an apartment in a security building gives you far more peace of mind.
Living the strata life is financially more predictable and manageable. When we look to the medium and long term, the maintenance costs of a non-strata property can hit out you of the blue and the full brunt of any expensive repair or upgrade needed must be borne completely by you, as the sole property owner. Conversely, the sinking fund of a strata property, with its quarterly instalments contributed by all owners in the building, will generally cover the costs of repairs and maintenance. Also, in any well-run strata, major works forecasting allows for the sinking fund to be regulated so it can sufficiently cover all foreseeable works. This sort of forecasting for future expenses is rarely done in a non-strata property.
When making the move to strata living, consider buying off-the-plan property. This gives you the time to get all your affairs in order and your brand-new apartment will be all bells and whistles and ready to occupy in its pristine state. Choose property with intelligently designed floorplans, spacious balconies or courtyard for outdoor entertaining, excellent quality appliances, well organised and aesthetically pleasing common facilities and a sleek, easy-to-care-for modern finish. Also choosing a development located in a thriving area with brilliant restaurants, bars, shopping and facilities will enrich your life enormously.
For exquisite designer strata developments that perfectly fit the bill, please contact Emma Chappell, Head of Sales & Marketing for a full list of properties that will suit your needs
