If you are in the market to buy a home, but have a limited budget or don't want the hassle of ongoing maintenance on a freestanding home, then perhaps medium density living is for you. Medium density property can generally be described as an apartment, townhouse or villa in a group with shared common facilities such as driveways, gardens or swimming pool. There are many things to consider when deciding if medium density living is right to you, but you might want to keep the following in mind:
Your housing needs: consider how many people will be living in the property, both now and in the future. If you have small children now, an apartment might be okay, but as they grow you are likely to need extra space. On the other hand, if you have older children who are planning to move out of home, you may not need much space in the near future.
The neighbourhood: with medium density property, it is important to look at the surrounding neighbourhood, just as you would if you were buying a freestanding home. Can you commute easily to work? Are there schools, shops or community facilities nearby?
Outdoor space: when considering medium density property, think about how you are likely to use outdoor space. Do you entertain a lot, and therefore require a small garden or large balcony? Some medium density properties have common facilities such as gyms, swimming pools or tennis courts. Think about how important these facilities are to you, and whether you would use them.
Pets: some medium density projects do not allow pets at all, while others may give special permission to allow them. If you want to keep a pet it is important you check this aspect before you purchase the property.
Security: is security important? Some medium density projects have security entrance gates, while others have limited security, so make sure you understand the security that is being offered.
Parking: in some medium density projects, parking can be real issue, especially for visitors. Look carefully at the number of spaces allocated to each lot, and at the number of spaces allocated for visitors.
Maintenance: most outdoor maintenance will be taken care of by an association or committee made up of all property owners, to which an annual fee is paid. Outdoor maintenance usually covers common areas such as driveways, communal gardens or recreation facilities. Before you buy, find out what "rules" (known as bylaws) relate to the property. For example, some medium density schemes govern exterior paint colours or body corporate approval may be required to install air conditioning.
Governance: as mentioned, medium density property is governed by the scheme's bylaws. So if you really want to plant three huge trees in front of your new villa or paint your front door bright lime green, than a freestanding home may be the better option for you.
When you have finished weighing the pros and cons of medium density living and made a decision, you can start hunting for your new home.
