Less maintenance, more travel: Why a downsizer chose a Banksia apartment in Melbourne's Cheltenham

For many downsizers, leaving the family home for an apartment can take years. For one recent purchaser at Shenfield Property's under-construction Banksia development in Melbourne's Cheltenham, apartment living wasn't initially part of the plan.

Her objective was to downsize, travel more, reduce maintenance and living expenses, and find somewhere she and her son would feel safe.

"I was considering all options although, to be honest, apartment living was not initially even on my radar," she said.

"I thought about what I wanted and what I needed. High on the list were things like travelling more, doing less housework and less outdoor maintenance."

After apartments began appearing in her online searches, she reconsidered the benefits of a lock-and-leave lifestyle. Her search eventually led her to Banksia on Charman Road, where the location immediately stood out.

Designed by Brayshaw Architects, Banksia will comprise 29 apartments across four levels, ranging from one to three bedrooms, above ground-floor commercial space.

"The reason I love Banksia is its amazing location," she said.

"It's a five-minute walk to Cheltenham Station. This allows options such as a 30-minute train ride to the city, one stop to Southland Shopping Centre and three stops in the other direction to my son's high school."

Charman Road's cafes, restaurants, shops and everyday services are within walking distance, while Cheltenham Park and several Bayside beaches are nearby. An IGA supermarket is also planned beneath the apartments.

The building's smaller scale was another attraction, particularly compared with larger developments offering extensive shared facilities.

"Banksia's body corporate will be far more reasonable and it has a lot fewer neighbours," she said.

David Lamond, of Noorden Projects, which is managing sales at Banksia, said her priorities reflect growing confidence among downsizers across Melbourne's Bayside suburbs.

"We're seeing greater activity from downsizers who have been considering a move for some time but have become more confident about making that decision. They're generally very clear about what they want, particularly when it comes to location, apartment size and ongoing costs," Lamond said.

"There's renewed confidence in well-located projects at the right price point. Buyers still want quality, but they're also looking closely at the practical side of apartment living."

For the purchaser, three bedrooms and two car spaces were essential, particularly with her son Quinn making the move with her.

She secured Apartment 3.01, a north-facing corner penthouse with an open-plan kitchen, living and dining area, generous balcony, walk-in pantry, separate laundry and enclosed study.

"It has a wonderful layout, allowing for natural light in all directions," she said.

"The study, with its glass wall, not only allows for natural light but you won't feel closed off from everyone when working in there."

Storage was equally important, allowing the family to retain belongings they weren't ready to part with while reducing the amount they would need to maintain.

Although the apartment met her requirements, buying before construction was complete initially brought some uncertainty.

Banksia is now under construction, with Shenfield Property providing a construction completion guarantee of October 2027.

Confidence came from visiting the display suite and inspecting previous Shenfield developments, including Joe's Quarter in Mordialloc and Plenteous in Cheltenham.

"I certainly had a decent amount of anxiety about buying before construction was complete," she said.

"Whilst it would have been wonderful to walk through a completed apartment, the display suite and photographs give you a very good idea about the finished product.

"It was also lovely to be given a list of other buildings the developer had completed so I could visit those and see the proof of their attention to detail."

Victoria's off-the-plan stamp duty concessions also strengthened the financial appeal, alongside the prospect of lower ongoing maintenance costs.

Lamond said the combination of established locations, practical floorplans and achievable pricing was increasingly important in converting downsizer interest into sales.

"Projects like Banksia appeal because buyers aren't necessarily looking to compromise on their living space. They want to simplify their lifestyle, but they still want good-sized bedrooms, storage, parking and somewhere comfortable for family and friends to visit.

"We're finding that when the location and price point align with those expectations, buyers are much more prepared to make a decision."

With construction underway, the period before settlement is giving the purchaser and Quinn time to prepare for the move and adjust to leaving their current home.

"Not only can he watch it go up, but it will also give us both time to adjust," she said.

For her, the biggest attraction is starting a new chapter with greater flexibility to travel and spend time together.

"I think the thing I am most looking forward to is making a new start in my brand-new home," she said.

"My husband would have been thrilled to know Quinn and I will be safe, happy and embracing new opportunities because of his careful financial planning."

Her advice for other downsizers considering Banksia is straightforward.

"As I would say to my students: get a move on!

"Seriously though, take a look at the location, go and take a look at the quality of the developer's other work."