Luxury is not merely a concept when it comes to high-end condos—it’s a lived experience. It’s not just about the architectural design or the view from your balcony. It’s about the entire lifestyle package that the property offers. Central to this are amenities, the added features that enhance your living experience and provide comfort, convenience, and a touch of luxury.
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The Importance of Finding the Right Amenities
Luxury condos are more than just living spaces. People buy condos because of the extra amenities they get – features that aren’t available with single-family homes or apartments. Finding the right amenities is important for two primary reasons.
First off, amenities matter because they impact your satisfaction with the condo and your overall quality of life. In other words, the types of amenities offered will impact your physical health and well-being, financial life, and overall stress levels. But every person is different. So the amenities that are most beneficial to you might not be as attractive to the next person. Thus, you have to take some time to sift through this.
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Secondly, amenities have a significant impact on a condo’s market value. In one isolated study of New York City condos, buyers were willing to pay significant premiums for certain amenities. In homes below $2.5 million, having a gym added a 12.3 percent premium; pools added an 11.8 percent premium; patios and terraces added a 7.5 percent premium. For homes $2.5 million or more, features like basketball courts, valet parking, golf simulators, shared meeting rooms, and concierge service saw noticeable bumps in value.
When you get really high up in the luxury market – say Palm Beach, for example – the amenities get even more attractive. The Bristol Palm Beach, for instance, offers yoga and personal training rooms, beauty suites for private hair and manicure appointments, air-conditioned private garages, and more.
Which Amenities to Prioritize
Finding the right amenities is really a subjective pursuit. It comes down to understanding what you want/need and finding the right intersection with what the larger marketplace wants (so that you can be sure your property value increases over time). With that being said, here are some amenities worth prioritizing:
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- Fitness Center
Fitness centers have become a cornerstone of the luxury condo lifestyle. These are not your average community gym facilities—luxury condo fitness centers are often expansive, equipped with state-of-the-art machines, free weights, and specialized equipment for a wide range of workouts.
Some of the best fitness centers even boast indoor tracks, professional trainers, or wellness studios for classes like yoga and Pilates. Having these facilities within your building promotes health and wellness and provides a level of convenience that might make you more likely to accomplish your health and fitness goals.
- Resort-Style Pool
A pool isn’t just a pool. It’s your own slice of resort life right out your front door. And in many of today’s luxury condos, pools include things like infinity edges, hot tubs, poolside cabanas, cafes and bars, landscaped gardens, and breathtaking views.
A pool is also a point of social connection. It’s the place people go to hang out and meet. You can use it to entertain guests and throw small gatherings on the weekends.
- Valet Parking & Car Services
Valet parking is something to think about if you live in a crowded urban area or your garage/parking spot is located a distance from your residence. You might not use it every day, but having the option to have your car valet parked can introduce a new level of convenience to your life. (Some of the top luxury condos even have car services where they’ll actually take you to specific locations around your condo, including certain supermarkets, retail stores, clubs, and restaurants.)
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- Concierge Services
Concierge services are another hallmark of luxury condo living. These services can range from simple tasks like receiving packages to arranging housekeeping, booking restaurants, or even securing tickets to popular events. Some luxury condos may also offer personalized services tailored to individual needs, from arranging private chefs to planning parties.
Choose the Right Luxury Condo
There are a multitude of factors to consider when investing in a luxury condo. This includes, location, budget, floor plan and layout, architecture, and design. But don’t underestimate the significance of having the right amenities. At the end of the day, it’ll impact your satisfaction more than almost anything else related to your condo purchase. Choose wisely!