Home / About / Apartment or house: Which offers the better lifestyle for retirees?

It was 17th century English jurist Sir Edward Coke who said every man’s house is his castle. For a growing number of retirees, the apartment is their castle, offering security and community.

It’s often hard for retirees to up and leave the family home. They have wall-to-wall memories, often close neighbours, and live in a familiar community. No wonder the house remains the most common choice of retirees, with 89 per cent of those still with their spouse living in this form of accommodation. The number is still high for those living alone at 67 per cent.

But the needle is shifting with apartments becoming more popular among retirees. Even retirement communities are embracing this lifestyle. Where once a retirement community meant a little house for each resident, now almost 30 per cent of new retirement communities have some type of apartment option.

What is driving this new interest in apartment accommodation? There are several benefits to living in an apartment that significantly suit a retiree’s lifestyle.

Maintenance: Apartments typically require less maintenance than houses and major works are the responsibility of the body corporate rather than the individual. There is no need for the apartment resident to manage the lawns, organise external repairs, or, in many cases, even take the rubbish out.

Affordability: Apartments are a downsizer’s dream as they are generally more affordable, with lower upfront costs and ongoing expenses. Although there are fees due to the building management, the absence of property taxes and lower utility bills also contribute to a more budget-friendly retirement, allowing retirees to maximise their often-limited resources for other things, such as meeting rising living costs or simply enjoying more of their hobbies or travel.

Security: Most senior citizens are concerned about their personal and property security, and here apartments have a significant advantage. Most apartment complexes come equipped with security features such as gated entrances, surveillance cameras and on-site staff, providing retirees with a sense of safety and peace of mind. Many of the more advanced apartment buildings even restrict access by floor, providing even greater peace of mind.

Community: One of the bigger risks that seniors face is the feeling of isolation, but apartments are their own communities, providing essential socialisation opportunities. Most apartments have common areas, organise social events, and share amenities that bring residents into regular contact. There is a useful peace of mind factor here, as neighbours can check in and make sure that all is well from time to time.

Accessibility: Apartments, typically located in urban or suburban areas, often provide easy access to essential services, healthcare facilities, shopping centres and public transportation. The buildings themselves also feature lifts and ramps that make it easier to get around. This convenience can be especially beneficial as retirees age and face mobility challenges.

Health: With gym memberships becoming an expensive luxury, apartments often provide a solution for retirees. Many modern apartment buildings have on-site fitness centres and pools, giving seniors access to amenities that allow them to keep in shape.

Of course, housing still offers plenty of advantages. Apartments are smaller in size, making it more difficult for family or friends to stay for holidays and celebrations. For those who are garden conscious, a house is more likely to allow you to enjoy this pastime.

There’s also greater independence in a house. With an apartment, it’s that much harder to avoid a surly neighbour, an experience that can be stressful, especially for those living alone.

Like everything, there are pros and cons. But the advantages of apartment living should be considered carefully when deciding on the kind of retirement best suited to you.