Tips For Buying A Penthouse

The first thing you want to do when you are considering buying a penthouse suite is find a real estate agent who is an expert in condo purchases

. A great real estate agent can unlock a wealth of opportunities, often finding listings you would never hear about and negotiating prices that will save you thousands. Browse the internet, ask around and have coffee with potential candidates to find the best agent for you. It might not always be the first person you consider.

Penthouse suites are known for epitomizing luxury living but they aren't always as expensive as people think. Look for new developments, where contributing a little investment capital and some patience may be all it takes to put a penthouse in your budget. On the contrary, slightly older penthouses can often be found at phenomenal prices as well, as penthouse owners have a tendency to frequently "upgrade". Short sales and foreclosures, though less common in penthouses than in other property-types, can ocassionally be found too.

Penthouse suites are all about the view, so make sure you've found the best. It's not worth spending millions on a beautiful view of your neighboring parkade. Likewise, consider future developments and find out what growth is occuring in the area. Your stunning view might be the future home of another tower. Make sure your horizon is going stay blue skies and mountains, not your neighbor watching CSI.

Always ensure you research the amenities offered. Concierge, dry cleaning, car wash and other luxury services can greatly enhance the value of your penthouse. Look for fitness facilities, relaxation services and other on-site amenities. Additional services to consider are on-site restaurants and shops. Ensure they attract the kind of clientele you want hanging outside your house and also reflect on their contribution to your lifestyle.

You'll also want to take a look at the specific neighborhood. Visit the area during different times of day and take a walk around. Listen to your instincts if you feel uncomfortable. Even though your home will be high above the street, you'll still want to settle down in area that you can explore without hesitation.

Finally, consider what you actually want to do with the space. A full-service bar is great for people looking to entertain guests, but might not be a selling point for a new family. Also remember that every room will need to be furnished, so you want to choose a space that you can properly fill.

Purchasing a penthouse can be a fantastic experience with an incredible reward. Explore your options, know your resources and enjoy the hunt. Good luck!

by: Jamie Mathwig

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