For those with deeper pockets, a luxury condominium may be more fitting for their glamorous lifestyle. Luxury condos have all the features of a regular condominium, but with added premium, such as better amenities and beefed up security.
But these condos are more than just luxury items, or status symbols. For the financially astute, high end condominiums can be an investment that could yield bigger ROI in the long run. Hence, it is best to choose wisely. Money well spent is, after all, money well earned. Here are eight of the most important things to look for in a luxury condominium.
Location, location, location
This age-old adage not only applies to regular condominiums. It applies to luxury condominiums as well. Location not only guarantees easy access to commercial, leisure and business establishments, but also its potential price appreciation (if you’re planning on leasing or selling it on the right conditions). Makati, for instance is a prime real estate spot as it is the business center of the Philippines. But there are other cities that offer the same convenience as well. Take Bonifacio Global City, for instance. It is not only Taguig’s business hotspot, but it also a stone’s throw away from the Airport and other cities in the Metro. Hence, condominiums in the Bonifacio Global City have high potential for marketability at a price lower than those in Makati.
What great way to end the day than watching the sun set into Manila’s breathtaking skyline. Not only does having an unhindered view of such panorama from your condo’s window or balcony guarantee exhilarating mornings and relaxing evenings, but it also ensures more pricing power on your part. (Beats waking up to the view of the next building’s alley, don’t you think?)
A great architectural design
A condominium building that’s stunningly designed is not just a sight for sore eyes. It also increases your unit’s value. Look for high-end condominiums designed by architects with a good track record and beautiful, yet practical designs that suit your taste and preferences. Do you go for eco-friendly designs that allow lots of natural light and air to get in? Or would you go for a design that’s guaranteed to stay in vogue for years to come? If you are, however, not too keen on what the building looks like, at least go for condominiums designed with a rock solid foundation, high-grade materials and unique details.
It’s not a luxury condominium if it doesn’t come with a sophisticated interior design. Custom kitchens with granite countertops, fixtures that add to the cozy ambience of your condo unit, and other touches can add value to your investment. These details can also be interesting conversation pieces when you’re inviting people over.
A parking space is just as important as the unit itself (unless you have consigned yourself to commute to work or anywhere else). While yes, it entails an additional (and hefty) cost on your part, it will help you sleep at night knowing that your car is safe from vandals and thieves. But if you think the cost is too much, renting could be a better option.
Recreation amenities, such as pools, spas and gyms should be available within the building, as part of the perks of having a luxury condominium. As luxury condominiums guarantee accommodations akin to that of a 5 star hotel, it’s only fitting that these features should be made accessible to residents.
A good layout
Sure, space can be a big issue for all condominiums. But a practically designed luxury condominium still allows a clear separation between social and private areas.
While a luxury condominium doesn’t need to have a Carrie Bradshaw-esque walk in closet, it’s still worth an investment to find a condo unit with some room for storage space, other than the regular built-in cabinets.