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While a penthouse is traditionally thought of as a top-floor unit inside a high-end condo or apartment building, today’s home buyers might see varying definitions used by developers and real estate agents alike. Fundamentally, the idea of a penthouse remains the same—an upper floor unit with a larger floor plan and upgraded finishes and features. However, buyers are much more likely to see a building feature multiple penthouses across 3 to 4 floors, especially in newer construction developments.
Advantages to Buying a Penthouse
Despite the buzzword marketing strategy surrounding penthouses nowadays, there is still a high level of appeal and desirability associated with penthouse units. As alluded to above, penthouses tend to offer more living space, a unique layout, extra outdoor space, additional privacy, higher-end interior features, and the best views of the surrounding landscape. It’s also not uncommon for penthouses in Naples to also include extra private outdoor space as well.
Other Things to Consider
While it’s safe to say the advantages far outweigh the disadvantages when it comes to buying a penthouse, there are some downsides associated with penthouses buyers will need to consider. First, and perhaps the most obvious downside, is the price. Penthouses always come with a premium price tag, so be prepared for a little sticker shock when shopping around.
Next, owners will also face higher HOA fees when living inside a penthouse. Simply put, the larger the unit, the larger your share will be when it comes to monthly assessments.
And finally, be prepared for a slightly longer elevator ride as well. And although this might not seem like a terrible inconvenience at first, it’s still something that can become a nuisance whenever you’re in a hurry or happened to forget something in the car.
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