Good things come in smaller packages
“I knew I wanted to live at Greenspring, but I also knew that I wanted to pay a smaller amount to do so,” says Sue Leathers. “For me, a studio apartment home offered the best of both worlds.”
Sue’s sentiments ring familiar with more and more Americans choosing smaller living spaces for greater financial freedom.
According to the August 2016 Fortune article “Why More American Home Buyers Are Choosing Smaller Houses This Year,” when it comes to selecting a home Americans are increasingly deciding bigger is not necessarily better. The article also cites the National Association of Home Builders and the U.S. Census reports that the size of the American home shrank in 2016.
“It’s a phenomenon we see playing out in our sales office,” says Greenspring Director of Sales Eric Whitson. “People desire to make financially sound decisions for their future. No one wants the burden of a home that is more than they can afford. That is why we encourage our priority list members to evaluate their needs and determine if a smaller-size apartment home is the answer.”
Get what you want and save money
Greenspring studio homes offer that peace of mind of a smaller entrance deposit and a lower monthly service package. For example, the average entrance deposit on a one-bedroom apartment is $301,000, but a studio apartment is just $172,000. When it comes to the monthly service package, a one-bedroom apartment includes, on average, a $2,232 fee, while the average monthly service fee for a studio is $1,939.
Choosing a studio apartment home over a one-bedroom floor plan provides an initial savings of $129,000, and a monthly service fee savings of $293 a month, or $3,516 a year, on average.
“And the best news is that although the costs are lower, selecting a studio apartment home comes with complete access to all of Greenspring’s amenities and services,” says Whitson. “Those living in smaller apartments are simply paying less for these benefits than those living in larger living spaces.”
All of Greenspring’s unbeatable amenities and services are located a short indoor walk away and include a state-of-the-art fitness center with glass-enclosed all-season swimming pool, a medical center, five restaurants, a professional theater, classrooms, a hair salon, and a bank. There are also more than 200 resident-run clubs and activities providing a wealth of opportunities to meet like-minded friends.
“The reality is, I’m never home, and hardly use the space I have,” says Sue, who lives in Greenspring’s most popular studio apartment home, the Abbott. “I still have more space than I really need. My apartment home is as big as many of the one-bedroom designs without the extra wall, and I enjoy two walk-in closets and a wall of windows.”
At Greenspring, the benefits of living in a smaller space go above and beyond financial savings. But for many, it takes careful consideration of all the factors, especially in a world filled with media messaging that bigger is better.
“That’s why I encourage people to reevaluate their needs every 6 to 12 months,” says Whitson. “Many times what people thought they wanted when they joined the priority list may not be what they now need, or it may not be available when they are ready to move.
“Moving from a single-family home to an apartment means downsizing no matter how you look at it. When faced with this reality, many people go directly for the largest apartment home we offer. But the reality is that all that space may not be necessary.”
Whitson and his sales team encourage people to consider a variety of questions when re-evaluating their apartment home preferences:
- Do you need a large kitchen? Greenspring offers five on-site restaurants with delicious, healthy meals created by top professional chefs. Current community members point to sharing meals with neighbors as one of the best ways to meet new people. Greenspring’s monthly service package includes two convenient meal plans—one meal a day or the 20-meal plan for those who want a little more flexibility in their meal planning.
- Do you need a large dining room space for entertaining? In addition to the five restaurants, Greenspring offers private dining rooms, available for entertaining. Current residents have used these rooms for family birthday parties, anniversary dinners, and even weddings.
- Do you need a second bedroom to use as a guest room? Greenspring offers guest apartments that community members may reserve for visiting family members and friends. These rooms provide on-campus comfort as well as privacy.
- How many bathrooms do I need? Apartment homes with two bathrooms are the most expensive models. Choosing one bathroom is an easy way to save money without losing living space.
- I’m worried that all my furniture and personal belongings won’t fit in a smaller apartment home. Is that the case? While it’s true that moving to Greenspring means downsizing from living in a house, our personal moving consultant, Anna Greves, is available to meet with you in your current home to discuss the hows, the whats, and the wheres of the process. Equipped with your new floor plan, she will help you decide exactly what to bring and how it should all be best positioned in your new home.
“These are all important questions to consider,” says Whitson. “Wait times on some apartment homes are years, but often, with some flexibility with preferences, we can find someone an apartment they love in a matter of months.”
And moving sooner rather than later offers a wide variety of advantages.
“I have never, for one second, regretted my decision,” says Sue. “I now live my life as I want, and I’m having a fantastic time doing so. Moving to Greenspring is the best decision I ever made.”