Buying a Luxury Condo: Features You Should Consider

City living has become a popular option, especially among many young professionals who are planning to buy their first homes as well as older adults who are looking for engaging activities. Due to this, luxury condos have seen a spike in popularity across many cities. If you’re in the market searching for a condo, don’t just select the first ‘good enough’ place you visit.

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Once you’ve decided where to live, what type of condo you want and the pricing you can afford, it’s time to determine what condo features are the most important. Here are some of the features you should consider when buying a luxury condo.

Common Areas and Amenities

The biggest draw to any residential development is the common areas offered as well as the type of amenities provided. For instance, a rooftop pool and spa in a city condo development would be ideal for city dwellers. A marina or a boat dock would be perfect for boating enthusiasts.

Since common areas are what makes a development unique, you should look for the most desirable amenities when searching for luxury condos. If you love spending some time outdoors, ensure that the development has sufficient outdoor space. Amenities should include a swimming pool, a fitness center, full-service concierge services, a pet center, and a game room among others.

Upgraded Appliances

Most new condominiums come with upgraded appliances, but not all will provide the type of appliances you want. According to OwnAtlantic.com, there are must-have basic appliances such as stainless steel ranges, microwaves and refrigerators. Luxury condos that target the high-end market often come with top-of-the-range appliances.

Hi-Tech Security

Security should be a top priority when looking for a city condo to buy. In addition to staffed gatehouses and gated parking areas, condo developments should have additional security features to protect residents. Look for 24-hour camera and video surveillance, security guards, well-lit parking areas, locked exterior doors, locked access to community facilities and others.

Convenient Parking

Before buying a condo unit, make sure there is convenient parking. Most condos have on-site parking in a separate parking garage, adjacent each building or underneath the structures. Each unit should have a designated number of parking passes, usually depending on the number of bedrooms. Some developments have secured gated parking areas that provide added security.

Adequate Storage Space

Sice condo owners will not have access to garages, attics, basements or tool sheds, you must look for a unit that offers adequate storage space. Storage space in apartments is one of the reasons why luxury apartments are expensive. If space matters to you, look for sufficient entry closets, bedroom closets, kitchen cabinets and bathroom storage.

Square Footage

What type of space are you looking for in a condo? For instance, if you’ll want to have a home, office, you may want to go for a unit with an additional bedroom or a bonus space. Whether you’re looking for a small or a large unit, square footage space has to be considered. For luxury condos, space is usually sold at a premium, so be sure about what you want.

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Social Activities

Are there any social events or activities for residents? Such opportunities will make living in the development more enjoyable. A range of regularly scheduled events may be offered, such as golfing, book clubs, pool parties or kids play days. The events or activities can either be on-site or involve visiting nearby attractions including sporting events, museums and concerts.

Conclusion

There is no doubt that condos are increasingly becoming a popular housing choice for many buyers. The demand is growing due to a number of reasons like prime inner city locations, proximity to transit and lower living costs. Condo developers are increasingly becoming more innovative to meet the growing market needs.

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