What are the criteria for a luxury condo?
Living in a luxurious condo is an aspiration for many as a luxury condo exudes opulence and appeal. All condo developers offer a slew of amenities and features to woo buyers. Ultimately, the definition of luxury is relative. Hence, developers usually provide an entire array of features to suit everyone’s preferences.
Buying a condo is a good investment for individuals as well as companies. Companies can buy condos to save tax, host guests, and host employee events. Are you considering investing in a condo? If yes, you will find this article very useful.
What characteristics define a luxury condo?
Here are some of the main characteristics that define luxurious condominiums.
- Everything that is best-in-class: While luxury is relative, a key characteristic of luxury condos is that the developers don’t leave out any expense. You will see everything that is top of the class.
- Access to amenities: In condos, you will see a host of amenities integrated with the complex or nearby.
- Guaranteed comfort: Luxury condos are so called because they guarantee comfort to the residents. From a first-class air conditioning system to every amenity at a hand’s reach, you will experience ultimate comfort.
- High-end security: Residents of condos wish to know that they are safe at all times in their homes and in their absence their homes will be safe and secure. Therefore, condominiums offer best-in-class security and concierge service.
Key features to consider while buying a luxury condo
While there is an endless list of amenities and features that developers mention in the advertisements, it is normal for the buyer to get overwhelmed and confused. You must be wondering, what are those ‘non-negotiable’ features that you must look for, isn’t it? Here is a checklist to help you make the decision:
- Location: Location is the most critical factor when buying a real estate property. The condominium must be located near the social amenities and have adequate transportation facilities. Having your condo in a desirable location also makes it easier to sell it, should you want to do so later.
- Area: The square footage is something you need to weigh very carefully. While you may want to have a study room or an extra bedroom, every square foot will cost you.
- Storage space: Before you buy a condo, inspect it properly to ensure that you get enough storage space. Check for vast corridors, closets of good size, and ample kitchen cabinets.
- Appliances: Look for quality and upgraded appliances in the condo. The appliances and fixtures should have a classy look while ensuring functionality.
- Parking space: When you are investing in a luxury condo, you will want a dedicated parking space, right? Look for condos that have dedicated parking spaces, with properly labelled parking slots that are assigned to all residents.
- Amenities: Having nice common areas is a highlight of community living. If you are investing in a condo, look for amenities like a gymnasium, spa, clubhouse, tennis court, walking track, etc.
- Security: As security is a major feature that defines condominiums, you must inspect the security features of the property before you close the deal. Look for CCTV surveillance, security guards, proper and sturdy looks, and well-lit nooks and corners.
What it is like to live in a luxury condo?
If you choose to stay in a luxurious condominium, you are going to enjoy a glamorous lifestyle that is all about opulence and class. You will have enough avenues to indulge in social activities and enjoy community living. You will get the best appliances and fixtures and thus experience great comfort.
While the above checklist of criteria can make it easy for you to shortlist the best condo, performing full due diligence is imperative to avoid any potential pitfalls before you close the agreement.
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