Penthouses have a certain appeal to them. From 24/7 concierges ready to welcome you home, to dazzling views and panoramic windows, many a buyer sees a penthouse unit as the key to an elevated urban lifestyle. And while penthouse living can be a dream come true, it’s not without a few items to be cautious about. Here’s what some buyers forget about penthouse living.
You might have to take a long ride. While luxury condo units can often be found on any floor in a condo building, a true penthouse unit is often on one of the higher floors, usually the very top. While this might not be so bad in a low-rise building, taking the elevator to the top of a skyscraper can be a pain. Plus, if you have to take the stairs for any reason, say in an emergency or if the elevators are down, you’re in for a hike!
Your condo fees will likely be higher. Condo fees are usually calculated based on the square footage of a unit. With penthouses, which are usually the largest suites in the building, you’ll be paying a hefty amount every month, on top of taxes and mortgage payments. Since condo fees cover the amenities, make sure the ones in your luxury building you’ll get use out of, otherwise, you might not be so excited about paying for other residents’ amenity use.
High floors mean high winds. Depending on what level your unit is on, you might find the winds at high altitude disruptive. If your building is in a dense corridor with lots of high-rises, the wind tunnels could make this even worse. At worst, it may make your balcony or terrace unusable on all but the hottest days.