But that has become a thing of the past for many families, with more turning to apartment living. Some revile the lack of space that comes with high-density living — something that's more commonplace in Europe or Asia.
However, Liliana Rubiano told Yahoo Finance it's been the perfect move for her family-of-four, who have been lived in three different apartment in their Chippendale building over last 11 years.
“We are very happy. It has 24/7 security, it has a concierge, it has a nice 25 metre swimming pool outdoors, it has a spa which is heated, it has a beautiful gym,” Rubiano said.
“The strata fees are very, very expensive, but I’m happy to pay for them because of all the facilities.”
Rubiano and her husband, Fernando Mora, started off renting a one-bedroom in the building.
In 2022, they purchased their first home — an apartment on another level for $605,000.
The family purchased a one-bedroom apartment in Chippendale and are now renting in the same building so they have more space for their kids. ·Source: Supplied
It’s something Rubiano said wouldn’t have been possible if they had opted for a house.
“They are much, much more expensive, at least where we would like to live in the city,” she said.
When their family expanded with the birth of their second child, they needed more space but didn't want to leave their building.
Instead, they rented theirs out for $750 and moved into a $1,200 two-bedroom apartment, which is just under 80 square metres.
Rubiano said the rental income was covering the couple’s mortgage repayments, but not strata fees, which are $8,000 a year.
The move was an adjustment for the 37-year-old who had previously lived in a three-storey house in Colombia.
“I learned to become a minimalist when I moved here. In Colombia, we have a saying that human beings are animals that get used to things,” she said.
“That is pretty much true because you become a minimalist and learn to live in a small place. When I get one pair of shoes, I get rid of another pair.”
Apartment living booms
Rubiano is one of many Aussies who are turning to apartments over houses.
The 2021 census found more than 2.5 million people, or 10.3 per cent of the population, now live in apartments.
The number of occupied apartments has increased by nearly 60 per cent since 2006, with the rate of growth outpacing housing.
Nearly one in five family households in Sydney lived in an apartment, compared to one in 20 in Brisbane and Melbourne.
In Sydney, the median house price is $1,470,625, while in Melbourne it is $917,616 and in Brisbane $977,575, according to Cotality, formerly known as CoreLogic.
Rubiano's apartment in Chippendale. ·Source: Supplied
Ray White director of projects and developments Tim Abbott said he had seen the shift towards apartment living over the last decade from first-home buyers, families and downsizers alike.
“A lot of it comes down to convenience and maintenance. We’re seeing some families that are quite happy with a busy lifestyle and want to be close to the city,” he told Yahoo Finance.
“They don’t have the time that they once did to be doing the gardening each weekend and maintaining a house.
“So having a good-sized apartment where the maintenance is taken care of by the strata rather than themselves, particularly in developments where there are good garden areas, good outdoor areas and cafes and restaurants around.”
The one-bedroom apartment was purchased by the people for $605,000. ·Source: Supplied
Abbott said two-bedroom apartments in particular were often attractive for first-home buyers from an affordability standpoint.
Developers are taking note of the shift, too, with Abbott noting a shift towards creating more spacious apartment blocks, catering to families.
Willoughby Grounds, a project Abbott is involved with on Sydney’s lower north shore, for example, has been built with a dedicated playground, four-bedroom apartments and intends to cater to families who can no longer afford freestanding homes in the area.
“Developers are understanding what people are looking for and designing apartments to fit that need,” Abbott said.
Positives outweigh any downsides for mum
Rubiano said living in an apartment was the right move for her family and their current lifestyle.
Her husband works in project management in Barangoo and can cycle, run or walk to the office.
Rubiano runs her own small business, boardshort company Tolu, and utilises the apartment building’s storage space to store her products.
Rubiano said she is enjoying living in an apartment and benefits like the convenient location and reduced maintenance. ·Source: Supplied
“We have a Woolworths downstairs, we have a pharmacy, liquor shop, medical centre, massage, restaurants,” she said.
While the strata fees are expensive and she misses not having space outside for her kids to play, Rubiano said the positives outweigh the downsides and she doesn't plan to go back to living in a house.
"The pros at this stage in our life are more than the cons," she said.
“When [the kids] are bigger, they will want their own spaces then we will have to look for an alternative with a little bit more space.
“But I would still prefer to live in an apartment rather than a house because of the maintenance and the cost of maintaining a house and the stress and the clutter.”
