The trend towards smaller living spaces is growing and property developers are responding to the rise in demand. In South Africa, the Amdec Group, who own and manage Melrose Arch among other large properties, is including smaller spaces in the planning of their future developments. With a number of new residential projects in the pipeline for Melrose Arch, you can expect some exceptional opportunities to live or invest in this type of property within South Africa’s favourite mixed-use precinct.
Here are six reasons why a smaller living space is worth considering.
1. Lower maintenance
A small, simple living space is easier to maintain than a large, complex one. There are fewer things to keep track of and less to look after. When something does require attention it’s easier to schedule and sort out immediately because it’s more manageable than a constant stream of tasks that you never get to.
2. Easier tidying & cleaning
A more compact home requires less effort to keep things neat and tidy. Spending time in clean, orderly surroundings has been shown to have a positive impact on mental health and well-being, so it’s worth the effort, and in a smaller space it’s quicker and easier to do.
3. Cost savings
Scaling down your lifestyle means costs could also come down. The rates and taxes, levies, water and electricity costs and other regular expenses that apply to smaller spaces are more affordable than for larger properties. Needing to buy fewer things to furnish and fit out your home could help you save on the cost of furniture and other big ticket items. It also means that if you choose to, you could buy better quality items as you would need fewer of them. Higher quality products will most likely last longer, saving money in the long term.
4. Less debt
Purchasing a smaller living space comes with the benefits of a more manageable deposit and more affordable bond repayments, freeing up some cashflow for day-to-day expenses and monthly living costs.
5. Reduced stress
Less to look after means less to worry about. Whether its indoors or outside, not having to concern yourself with constant maintenance or regular DIY-related expenses is a luxury many homeowners don’t have. Then there’s the fact that you need fewer possessions means there’s not as much to weigh you down as might have been the case in a larger living space. The universal trend among younger generations is to own less and be more mobile. They’re the homeowners and tenants of tomorrow, so their preferences matter!
6. Better resale value
The increasing appeal of smaller units is driving demand. Rising demand means that property value can be maintained over time which often translates to stronger resale prices.
If living or investing in a smaller living space makes sense to you, please make contact with Tersia Taljaard on 087 897 0222 or email firstname.lastname@example.org to discuss opportunities at Melrose Arch, or any other of the Amdec Group’s developments.