buying your first home - what you should know

Purchasing A Luxury Condominium: Four Things To Consider

Luxury homes come in all shapes and sizes, and for people who want the advantages of big city living, luxury condominiums make an attractive option. When looking for a condo in the city that fits your lifestyle, you'll need to take a few things into consideration that you might not with a traditional house. Use this guide to help you narrow down your list of luxury condos to find the right real estate purchase for you.

Building Security

Luxury condom buildings can be a target for potential burglaries, so you'll want to make sure any property you purchase comes with adequate building security. Ask if there is a doorman 24 hours per day, and if there isn't, ask what steps the building management takes to secure the property after hours. An intercom system is also a benefit, as it lets you decide who you let into your home. Look to see if the unit you are interested in has its own alarmed security system as well. This provides an added layer of protection for your home.


Spending a considerable amount of money on a condo with a poor view may not be the best investment. Not only will you not get the benefit of seeing your city's beautiful skyline every morning, the view can make your condo less attractive to potential buyers should you ever choose to sell. Look out of all the windows in the unit to ensure you don't have a view of an alley, dumpsters, or a brick wall.

Storage Space

Ideally, your new luxury condo will have plenty of closet space, but if not, be sure the unit you choose comes with an on-site storage space. Driving to and from an off-site storage facility can be inconvenient, particularly in a large city. Ask to inspect the storage areas, and look to make sure they are secure. The area should be well-lit, in plain view of security cameras, and have secure locks on each unit. You may also want to ask for the exact measurements of the unit to ensure it offers enough space for your items.

On-Site Laundry

Not every luxury condominium will have laundry inside the unit. Be sure to assess the laundry situation to determine if it will work for you. Some units may have a washer/dryer hookup so you can add your own laundy appliances, while other buildings may have a communal laundry room on another floor. Determine whether or not having laundry in your unit is a deal-breaker, and be sure there is a laundromat close to the building if there are no on-site laundry facilities.

Work with your agent to find real estate for sale that meets your needs while giving you the amenities and security you expect in a luxury condominium. With a bit of research, you can find a property that you can call home.