It seems like penthouses will always be in demand no matter what is the overall situation with the real estate market. This is because penthouses typically seldom lose value even when real estate market slumps. If you’re planning to buy a penthouse and want to find one that will be a great investment, you’ll have to look for some key details. Take a peek at what you should look for when buying a penthouse below!

Lovely Location

Penthouses that are in major hubs are a lot more attractive than penthouses far away from where the action is. People who buy penthouses are usually people with successful and demanding businesses and careers. They need to be near where their business is but they seek a home that will give them a sense of being away from the city. Penthouses that are near intersections are favoured too.

Fantastic View

One of the main reasons for buying a penthouse is to have an awesome view. Why buy a property on top of a tall building if it doesn’t give you a view of the surrounding areas, right? Aside from the view itself, penthouse buyers love having floor to ceiling windows that give them as much access to the view as possible.

Terrific Terrace or Balcony

What could be better than huge windows for seeing some views? It’s having a terrific terrace or balcony! Note that a terrace is a lot bigger than a balcony and offers more possibility when it comes to utilizing the space. This is why a penthouse with a terrace will cost more than a penthouse with just a balcony. If you have a choice between a penthouse with a terrace or a penthouse with a balcony, know that penthouses with terraces fetch higher prices and are easier to sell should you decide to let go of it in the future.

Perfect Floor Plan

Okay, no floor plan may be perfect, but not all floor plans are made equal. Open concept floor plans are all the rage these days because they are more flexible and allow for better use of space overall. There’s also something about having a large open space that is freeing and relaxing, qualities that penthouse buyers usually look for in their homes.

Available Parking

No matter how great the location of the penthouse is or how fantastic the floor plan is with amazing views, a major drawback is if it doesn’t have available parking. People who buy penthouses usually have busy lives and a car is very much needed for getting around. Parking availability is a must even for those who don’t drive as much or don’t even drive at all if planning to sell in the future.

For more home buying advice, please visit our luxury real estate blog here: https://www.goodalemillerteam.com/en-ca/blogs/