The Pros and Cons of Downsizing from a House to an Apartment

Thinking about downsizing from a house to an apartment?

Whether you’re seeking lower costs, less maintenance, or a simpler lifestyle, there is a lot to be said for downsizing, but it’s not for everyone.

In this home moving blog, we’ll look at the benefits, drawbacks, things to consider, and a practical decision framework to help you make the best decision for you.

At a Glance

• Biggest wins: Lower ongoing costs, less upkeep, improved location and amenities, lock‑and‑leave convenience.
• Biggest trade‑offs: Less space and privacy, new rules (HOAs/strata/lease restrictions), noise/parking issues, and fees that can offset savings.
• Best for: People who value location, convenience, and experiences over space, such as empty nesters, frequent travelers, minimalists, retirees, and busy professionals.
• Think twice if: You host big gatherings often, need lots of workspace or storage, have multiple cars or pets, or love having a garden.

You may also like to read: Home Moving Tips for Single Parents. If you are a single parent thinking about moving home, then you will find the tips in this guide invaluable.

What Problem Are You Solving?

Identify your primary reason for moving and what you hope to achieve by downsizing:

• Financial benefits: Reduce mortgage/rent, taxes, utilities, and maintenance.
• Time and energy: Spend fewer weekends on repairs, yard work, and house chores.
• Lifestyle upgrade: Live closer to work, culture, transit, or nature; enjoy on‑site amenities.
• Accessibility: Eliminate stairs by choosing buildings with lifts and step‑free access.
• Life transition: Empty nest, divorce, retirement, relocation, or simplifying life.

Write the top 3 outcomes you want, then use them to evaluate every trade‑off below.

You may also like to read: The Advantages of Downsizing and How to Do It. Whether downsizing your house or looking to downsize into an apartment, this guide looks at not only the advantages but also how to make the transition to a smaller living space.

Advantages of Downsizing to an Apartment

1) Financial Advantages

• Lower ongoing costs: A smaller space usually means less to heat or cool, insure, clean, and furnish.
• Predictable expenses: Many buildings include water, rubbish, and amenities, which means fewer surprise repair bills.
• Unlock home equity: Selling a house can free cash to invest, pay debts, or fund experiences.
• No major exterior repairs: Roofs, siding, lifts, and common areas are typically handled by the building/HOA.
• Potential car savings: Urban apartments can enable one car, or none, because of local transit, cycling, or car‑share.

2) Lifestyle & Convenience

• Lock‑and‑leave living: You can be away without worrying about lawns, gutters, or snow.
• Amenities: Gyms, pools, co-working lounges, rooftop decks, concierge, and package rooms.
• Location: Live closer to city centres, cafés, parks, and healthcare, with shorter commutes.
• Community: Proximity can foster friendships; resident clubs and social spaces help you meet people.

3) Smaller Environmental Footprint

• Lower energy use per person and fewer materials to maintain and furnish.
• Walkability: Reduces driving and emissions.

4) Accessibility & Safety

• Single‑level living: Fewer stairs, step‑free entry, lifts.
• Security: Controlled access, intercoms, cameras, and on‑site staff in some buildings.

You may also like to read: The Benefits of Moving to a New Place. In this guide, we look at 10 life-changing benefits of moving to a new place.

Disadvantages of Downsizing to an Apartment

1) Space & Storage Limits

• Less private outdoor space (balcony vs. yard) and reduced storage for tools, sports gear, and seasonal items.
• Guest hosting constraints: Smaller dining and living rooms with limited guest parking.

2) Noise & Privacy

• Shared walls/floors/ceilings can mean hearing footsteps or voices, although noise varies by building age and construction.

3) Rules, Fees, and Restrictions

• HOA/strata/management rules: Pet limits, renovation approvals, balcony use, short‑term letting restrictions.
• Monthly fees: HOA/strata fees or higher rent for amenities; special assessments for big repairs.
• Insurance nuances: Different coverage (e.g., condo/HO‑6 or renters policies); deductibles for building claims.

4) Parking & Logistics

• Assigned spaces (sometimes with extra cost), EV charging availability, and storage locker sizes vary widely.
• Lift reliance: Move‑ins, furniture deliveries, and outages can be inconvenient.

5) Resale & Market Dynamics (If Buying)

• HOA health matters: Reserves, deferred maintenance, and litigation can affect financing and resale.
• Market exposure: Some apartment markets are more cyclical, and days‑on‑market can be longer in oversupplied areas.

You may also like to read: How to Declutter for a Home Move. When space is at a premium, it is essential that you only pack and move the things that you really need and love. In this guide, we share tips on how to declutter when moving home. 

Example Cost Comparison

Create a spreadsheet so that you can compare your current outgoings and the outgoings should you move to an apartment. Your headings may look something like this:

House:

• Mortgage or opportunity cost of equity
• Property tax & rates
• Home insurance
• Utilities (electricity/gas/water)
• Internet
• Maintenance & repairs (averaged annually)
• Landscaping/snow removal/pool care
• Transport (cars, fuel, parking)

Apartment:

• Rent or mortgage + opportunity cost
• HOA/strata/body corporate fees or amenity premium
• Special assessments (averaged annually)
• Renter’s/condo insurance
• Utilities
• Internet
• Parking/storage fees; EV charging
• Transport (can you drop a car?)

Tip: Annualize everything. Add a 10–15% buffer for unknowns in the first year.

You may also like to read: How to Choose a New Neighborhood. Having decided to move, the next question is where? In this guide, we suggest things to take into consideration when deciding on a new neighborhood.

Things to Consider

Here are a few things to consider when moving into an apartment:

• Soundproofing & construction: Concrete vs. timber framing; check for creaks and hallway noise at different times of day.
• HVAC & ventilation: Age of systems, ability to control your own thermostat, fresh‑air intake, and window operability.
• Water pressure & plumbing stacks: Long showers during peak hours? Any history of leaks?
• Natural light & outlook: Orientation, adjacent buildings, future development plans.
• Lift count vs. unit count: Peak wait times; redundancy during maintenance.
• Parcel management: Package room capacity (especially near holidays) and delivery access.
• Cellar/storage: Dimensions, damp, pest control, power outlets.
• Fire safety & egress: Sprinklers, alarms, stairwells, refuge areas, evacuation plans.

You may also like to read: What to Do When You Want to Move Home but Your Partner Says No. In this guide, we look at this very common problem and seek ways to help you find a solution.

Planning the Transition

Planning your move is crucial to ensure that you are making the right decision. Here is a list of things to do:

1. Define success criteria: Top 3 reasons + non‑negotiables (e.g., pet‑friendly, lift, parking, step‑free access).
2. Do the math: Use the cost framework; include selling/moving/fit‑out costs.
3. Audit your stuff: Space will be limited, so decide what to sell, donate, digitize, or store off‑site (short‑term at most).
4. Test‑drive the lifestyle: Rent in your preferred area so that you can see whether the lifestyle/area works for you.
5. Research buildings: Read reviews, talk to residents, visit at peak times (evenings/weekends), and review any building rules.
6. Plan the layout: Create a floor plan to scale; prioritize multi‑use furniture and vertical storage.
7. Execute the move: Book lift time, reserve loading bay, label boxes by room, and schedule utility/internet transfer.
8. Settling in: Meet neighbours, learn building systems, and join resident groups.

Design & Storage Strategies for Smaller Spaces

• Choose multi‑use furniture: Sofa beds, extendable tables, nesting coffee tables, storage ottomans.
• Use all the available space: Wall‑mounted shelves, over‑door racks, ceiling bike mounts.
• Choose the right-sized appliances: Compact laundry combos, a counter‑depth fridge, and a slimline dishwasher.
• Create zones: Use rugs, shelving, and lighting to define living/dining/work areas.
• Light & mirrors: To maximize daylight, add mirrors to bounce light and make the space feel bigger.

Pets, Kids, and Remote Work

• Pets: Confirm pet policies (breed/size limits, pet rent, and number of pets). Test lift and outdoor routines.
• Kids: Check sound insulation, play spaces, nearby parks, stroller storage, and pram‑friendly routes.
• Remote work: Assess noise, internet speeds, and potential for a dedicated workspace.

You may also like to read: Moving in Retirement. Many retirees decide to downsize when they finish work. In this guide, we look at the pros and cons of moving in retirement.

Renting vs. Buying an Apartment

Renting offers flexibility, lower upfront costs, and an easy exit if the building or neighbourhood doesn’t work for you.

Buying can build equity and control over your space, but requires deeper due diligence on the building’s finances and future maintenance needs.

Do your homework if buying:

• Review HOA/strata documents, reserve studies, and meeting minutes (last 12–24 months).
• Understand owner‑occupancy ratios (affects financing and building culture).
• Ask about upcoming capital projects (roofs, lifts, façade).
• Verify insurance coverage and deductibles, both building and unit‑owner responsibilities.

Insurance, Legal & Admin Checklist

• Insurance: Condo/HO‑6 or renter’s policy; check the building’s master policy and your contents/liability needs.
• Lease/Bylaws: Read pet, noise, renovation, subletting, and smoking rules; note penalties.
• Utilities & meters: Who pays what? Are any centralized systems billed monthly by management?
• Accessibility: Door widths, lift dimensions, step‑free routes, and grab‑bar potential.
• Data & deliveries: Internet options, mobile service strength, package room process.

This guide is informational and not financial or legal advice. Consult local pros for your situation.

You may also like to read: Is it Better to Rent or Buy when Moving to a New City? In this guide, we take a look at the advantages and disadvantages of buying or renting a home in a new city.

One‑Time Costs to Plan For

• Agent fees, staging, and conveyancing (if selling)
• Moving company and packing supplies
• New furniture that fits (sell your old before you buy new)
• Window treatments and lighting
• Minor renovations/paint
• Deposits (rent) or closing costs (buy)
• Storage unit (temporary, if needed)

You may also like to read: Moving to a New City Alone. You may be downsizing as a result of recently becoming single. In this guide, we look at the challenges and solutions of moving to a new place on your own.

Is Apartment Living for You?

Apartment living typically suits these types of people for these reasons:

•Frequent travelers & busy professionals: Who value lock and leave living and central locations.

•Empty nesters & retirees: Who want comfort, accessibility, and less upkeep.

•Minimalists & experience seekers: Those who prefer spending on travel, dining, and hobbies over square footage.

•Urban enthusiasts: Lovers of walkability, culture, and convenience.

Large families, hobbyists needing workshops, people with multiple pets, or those who host big gatherings frequently are less likely to live in an apartment.

Apartment living is not for everyone; we all have different needs, but in many cases, downsizing from a house to an apartment has many advantages and could just be the best decision you make.

Good luck making your decision and with your home move. Be sure to check out our home moving blog, which is packed with guides on how to make every aspect of your home move easier, cheaper, and safer.