The PROPERTY DOCTORS, Sydney Australia Novak Properties
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The PROPERTY DOCTORS, Sydney Australia Novak Properties
EP. 1197 UNCOOL MINI LIFE... 44M2 FOR $1.02MILLION
Could living large in a tiny space be the new dream? Join us as we unpack the fascination with miniaturization that's sweeping the globe, from the tech world to the towering prices of Bondi Beach's minuscule studio apartments. Imagine shelling out a cool $1.02 million for a space barely big enough to swing a cat! This episode is a rollercoaster ride through the emotions tied to the trend of getting less for more, examining everything from the allure of compact gadgets like the Mac Mini to the shrinking size of our beloved chocolate treats. As we navigate through the consumer's sense of helplessness against the tide of shrinking products and rising costs, we wonder aloud: where's the line in the sand for tiny becoming too tiny?
Strap in for a deep dive into the microcosms of mini living, where the desire for simplicity and efficiency is redefining lifestyles from bustling urban centers to Australian coastal havens. We're talking about the rise of studio apartments and boarding houses, and the diverse crowd who find solace in these snug havens—be they free-spirited minimalists or recent divorcees seeking a fresh start. But it's not just about cutting down on square footage; our conversation also sheds light on a cultural shift that favors experiences over possessions, prompting a reevaluation of what home means. And if you need a laugh about just how far this mini living wave has gone, there's a Netflix movie that hits the nail on the head. Tune in to find out just how small our world might get, as we explore the curious case of the incredible shrinking everything.
Yeah, look at that. Look at that, it's a Mac Mini. The emotions fly when I see it, when I see a Mac Mini, when I see a Mac Mini. When I see a Mac Mini, look how small it is compared to my face. It really disappoints me.
Speaker 1:Do you remember when they were this big, like the size of your face?
Speaker 2:Yeah, so there's something about mini that people love and there's something about mini that people hate, but they still pay a premium for it. We're going to talk about it in real estate, in property with a studio apartment that just sold state food.
Speaker 1:Music. Did you eat that in one? Yeah, I love it. How are you? Tonight I'm doing a really good day today. I'm doing a really good day today.
Speaker 2:Really good Start a day with a Mac Mini Not bad, not bad.
Speaker 1:I'll remember that for tomorrow.
Speaker 2:A Mac Mini. Look at that.
Speaker 1:It's true that everything is becoming so much smaller. When you think about your Magnum, when you think about even a bag of chips how many chips you actually get in that packet everything is just getting so much smaller.
Speaker 2:Cars, properties they're. In truth. There's something really like if you look at that emotion of it. It's really, first of all, it's really frustrating to look at these things that are shrinking and you're just going that's, you know, I'm paying the same price and I'm getting less. And then there's this really cool side to you know, cool side to it. That's cool, that's funky. Didn't really need the whole thing anyway, but if you're healthy, you know if it's food or. But you know it was. It was probably a little bit too big. You know drink size. Look at you know, look at these. I see these little cans of you know rocking around and, um, san Palagreno, I peep that. There seem to be everywhere those little cans. Now it must be making a fortune.
Speaker 1:Well, the property, the not even property, but the prices have gone up, but the sizing seems to be getting smaller and people just come to accept it and, like off air we were kind of discussing earlier who are you going to complain to? It's just big, slowly transitioning into more of a normal.
Speaker 2:Well, are you seriously going to write to Cadbury's and say you know, dude, my chocolate bar's smaller. You know that is going to get and blow you off. So I think with all these people that are making things smaller, these manufacturers, it's like you know what they're going to. We're still going to. I'm sure there's a study that shows the profitability. Just go through the roof when you shrink shit.
Speaker 1:But charge a premium dollar for it as well.
Speaker 2:Yeah, ie, you correct the price by one or 2%, but your profit goes up 10% and the consumer and everyone sort of wins. So shrinking of stuff, guys, is really, really big out there. I'd love to know if you, if you would agree or disagree. I'd love to know what you've seen that shrunk. So it's a live show, so make a comment. But you know where it all started. This morning this topic with Zanth and I was Bondi Beach. Cool, yeah, 44 meters squared, uncool. But can we look at this cool? What was the price?
Speaker 1:$1.02 million, this studio apartment that didn't even come with parking in Bondi sold for $1.02 million for a studio, and to me that just is crazy. The world has gone mad. But if you're paying that amount of money for a studio, have you just come to accept that you do like that small life? Are you paying for the location over the apartment?
Speaker 2:Yeah, you know what, and I want to put this into reality, because if you're paying a 6% or a 7% interest rate and you're paying you know, probably principal interest, you may be a first time buyer, you may be a tenant in there, you may be an investor, but then you're paying a 6% or a 7% interest rate. You may be an investor, but the reality is this is 70 to 80,000 of your cold hard cash earnings in a year that are going towards living in that property and you're still in 44 meters squared. So you know, I guess it's a harsh reality. That studio living, the mini living that we started talking about today, is. It's alive and well.
Speaker 2:People are not brown nosing it. You know it must be. It's obviously bigger than you and me because it is everywhere. And I'm seeing, you know you're seeing chocolate companies three pack, one by one. They're lollies when they never did that. You are seeing, you know, studio apartments, apartments pop up more and more across Australia when they've never done that before. You know they were. They were so rare to find in the 80s and 90s and just now that stuff is getting so much more popular. It's very interesting to watch.
Speaker 1:Well, I do think it's a smart kind of move If you are looking to get into the property market. When you think of how densely populated the coastline is from all the way from the northern beaches down to Manley, you can fit more people in a complex, in that mini cool or uncool, whatever you want to call it in that mini living and it's just something that transitions over time, that people come to accept, right, and if you've come from something brand and big, I'm sure that moving into a tiny studio would be a challenge at first, but it's something that you would just grow used to.
Speaker 2:Yeah, it's been interesting. I think we're Luke's having a bit of trying to stoke the fire a little bit. He's just trying to. He's trying to get us going on Bondi vs Manley, like last week. So what are we going to do about it, do we? Is this the world now where it just gets like, how low can you go, how small can you get with minis? You know, can chocolates really get smaller, or can chip packets and drinks? And? And then you know, and property, you know, like these boarding houses that we're seeing out there was we're seeing blocks of 80 being built and these puppies with, with kitchen, with bathroom, you know, between 18 to 25 meters squared internally. So you know, there's, I guess, I guess it's, it's smarter living in a way, because these guys are using it as a bedroom and they're taking their entertainment and they're entertaining outside, you know, restaurants, parks, friends place, no, an ideal example, for it is like a divorcee.
Speaker 2:You may find we have a couple of facilities where I find it's popular with divorcees, where they go to the matrimonial home over the weekend and Monday to Friday they'll be in a studio where they they're just working and getting stuff done. So, you know, I guess there's room for it out there, this mini stuff.
Speaker 1:Yeah well, it's just a life, a lifestyle change, and if you like getting outdoors, getting away from your property, going out and entertaining outside of the home, then absolutely, maybe this mini life is for you. But it's all just a matter of the lifestyle, really, and a matter of opinion as well. I mean, 25 meters squared to me is probably pushing the line of a little bit too small, too tight, too snug. For a single person it might be the case, but for a couple I feel like you would be living on top of one another, that's for sure.
Speaker 2:Yeah it reminds me of that Netflix what I was watching on Netflix those mini people. They decide to get shrunk. What are they called? Have you watched it?
Speaker 1:No, I don't know what you're talking about.
Speaker 2:So there's a Netflix movie out where all these families decide to get shrunk.
Speaker 2:So you give, you, give, you, give this scientific company money to shrink you and your family and you live really really well in a mini life, in a mini world. Okay, so it's hilarious, like it's a comedy, but the reality of it is pretty hilarious. But anyway, guys, we wanted to talk about it today because it is happening under our noses Exactly. It doesn't seem to be spoken about much, so we thought we'd bring it to service, something you may want to consider, because there's an enormous efficiency to going mini, yeah, costs and ease and things like that. What do you want to finish off, zance? What are your thoughts?
Speaker 1:Well, absolutely. I mean, if you like a bit of a minimalistic lifestyle, if you don't like all of the clutter, all of the heavy furniture and all of those expenses that come with purchasing those things, maybe a mini life is right up your alley. If it's just you, you're a single person. You love to get outside and entertain, catch up with friends. How much time do you really spend at home, anyway, if you're not sleeping, if you're out eating all the time yeah mini life or exercising, or yeah, mini maybe cool. Make mini cool.
Speaker 2:Mini make mini cool. Have a great day.
Speaker 1:See you guys.