I just moved into a two bedroom unit above a shop with a closed in verandah and big time steps.... it is working out wonderfully for me!!

As Fiona warned, it can be a deal breaker, but for me the steps are providing great exercise and DD is loving going up and down them with me and the verandah is providing great play space for her. DD is two though so not sure if that makes a huge difference for you.

We moved from a house with a backyard, but the yard was such a mess and impossible to use I never used it! DD sometimes went out there but we make much more use of the park instead. Also, my DD is not much of a climber and is pretty chilled as far as other toddlers go (was as a baby too) so climbing and monkey antics are not such a worry for me.

I guess you have to think about how it is for you with regards to your DD and her personality.

FWIW, living above a shop can be great, can be noisy too (people, bins being emptied etc) I can live with it as I find it a real saviour as a social thing. Everyone around here says hi and knows DD. I find it a really lovely aspect of getting out and it gets me out of the house more than I did before - a definite plus.

Hope that gives you something else to think about and doesn't add to the confusion!! Good luck!