Luxury apartments are always worth looking at if you’re interested in real estate investments. Whether you want to invest in a property to live in – or you’re keen to rent it out to others – apartments represent a fantastic opportunity.
Having said that, there are some key features you need to look for when purchasing luxury apartments. Some apartment complexes might look as though they fall under the luxury banner, but they could be a bit worse than expected. Here are a few must-have features that every luxury apartment needs to boast for it to be worth your attention:
If you are investing money in a luxury flat, you need to ensure it comes with a balcony. This provides some extra outdoor space, which is critical to help you enjoy the fresh air at home. It’s the perfect place for nighttime cocktails or gatherings, and it can help you find more tenants if you’re looking to rent it out.
This isn’t necessarily a feature that the apartment itself must have, but rather something to expect from a luxury complex. Concierges are there to assist residents with every little thing you can possibly imagine. They deal with mail, collect parcels for you, and provide help if you have issues in the apartment. Some very luxury complexes may have concierges that park your car or get it out of the garage for you. It’s something that definitely sets the high-end apartments apart from those that are just a level below.
That’s right, the best luxury apartments will have a great deal of space for residents to enjoy. Just look at esteemed developers like Meriton; they often create flats that are oversized, giving you more than enough room inside. The idea is to have a place that is almost the same size as a small home but in an apartment format. After all, if you’re investing in luxury, you want to have a large amount of space to enjoy.
Finally, one of the deciding factors in determining if somewhere is luxury or not is the amenities on offer. Some apartment complexes might look nice and modern, possibly even advertising themselves as a high-end spot. But, if they don’t provide a long list of amenities, are they really that luxurious?
Yes, a concierge does fall under this category, but other things include an on-site gym, swimming pool, bar/restaurant, retail stores, home cleaning service, laundry room, pet grooming salon, etc. The more amenities an apartment can boast, the more opulent it will be.
It’s important to understand how to spot luxury apartments and separate them from the rest. Why? Because if you’re investing your money in luxury living, you need to be sure that you’re making a good decision. Don’t spend money on properties that seem luxurious, but aren’t actually as high-end as you expected. Keep an eye out for these features to help you make better real estate investment decisions, giving you the perfect luxury apartment to live in or rent out.