Most people fail to realize that luxury apartments end up saving you money in the long run. The high cost of these apartments, including location, amenities, events, and safety, helps ease the pain of paying more.
With the rent prices of standard rentals rising to match the cost of luxury apartments, it’s becoming easier to make the switch. But there’s always that nagging question, are luxury apartments worth it?
Keep reading to learn why renting luxury apartments is a better option than traditional rentals.
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Are Luxury Apartments Worth It? It Depends on the Location
In larger cities like Seattle, New York City, or San Francisco, the cost difference might sound like a lot, but it’s well worth the cost in reality. When you search online, you’ll find that cheap luxury apartments might only cost about $1,000 more on average.
However, that number drastically falls if you live in a less expensive city like Phoenix.
It may be surprising, but when you compare luxury studio apartments to standard studio rentals, the difference averages to approximately $350.
Even if you live in a more expensive area like NYC or San Francisco, the $1,000 difference saves you money when you think of the amenities that come with it.
When you search for luxury apartments, you’ll typically find that they offer more space than traditional apartments. The extra space could be implemented in the kitchen, living area, or even additional rooms.
Saving on Amenities
Think about how much you pay for your gym membership annually. In NYC, the cost of a gym membership can vary wildly from $100 to $500 per month. And that’s not including the excessive initiation fee.
If you regularly exercise, it’s important that you look for a luxury apartment fitted with a gym that meets your needs. That way, you can partially justify that expensive rent you pay!
Even in smaller cities like Phoenix, where a gym membership can fall well below $100, having the comfort of working out a two-minute walking distance from home is more than enough to make up for the higher rent.
These days, it’s becoming more apparent that having a proper office is essential to efficiently complete tasks. A majority of luxury apartment buildings come with business centers or offices that you can take advantage of.
The free cost is heavily favorable compared to the hundreds if not thousands you would pay for a coworking space membership!
Many high-end apartments also take into consideration their location. You’ll typically find them located in the vicinity of restaurants, bars, and shopping centers. And that’s not all.
Some apartments include not only a full gym but also spas and private parks.
Even with the cost savings, you might still be asking yourself; are luxury apartments worth it? If you have high standards and safety is a huge concern, then yes, it is.
Feeling Safe at Home
You’ll find that the higher rent you pay commands higher quality security around the complex.
A luxury apartment in the city center will have extra security measures not presented in standard rental units. This can include receptionists, guard booths, and gated entrances.
Depending on the building, you might also find external CCTVs and electronic keypads for each unit.
Sometimes it feels like you might be more secure at a luxury apartment than a house you own.
Energy Efficiency and Higher Quality Materials in Luxury Apartments
How high does your outdated AC and heating system run up your energy bill?
Luxury apartments use high-quality material that reflects the price you pay. This includes energy-efficient cooling and heating systems as well as light bulbs.
So while you may be scouring the internet for ways to lower your energy bill, living in a luxury apartment eases some of that burden. The high quality is apparent in the machines and the flooring, cabinets, and materials used throughout the complex.
Luxury apartments typically have a spacious kitchen with granite or marble countertops to complete the expensive feel.
The material quality is reflected in the walls as well. How many of your nights have been restless because of your neighbors constantly barking dogs or blaring music?
Some noise control measures taken by luxury apartments include:
- Concrete floors and ceilings
- Investing in reducing the sound transmission class (STC) rating
- Double-paned windows
- Solid core doors
Everyone’s living space heats up in the summer, and it gets tough to justify a higher energy bill for a little bit of comfort. But due to the quality insulation luxury apartments use, it keeps the unit infinitely cooler.
You’ll also find that higher-end apartments keep their facilities pristine. So even if the complex is several years old, it should look and smell brand new.
Soak in the View After a Long Work Day
Whether the luxury complex sits in the city center or an isolated town, architects designed the upper levels to offer its tenants some of the best views.
This can be jaw-dropping views of city lights, a beach, or even a forest-covered mountain. Regardless of the view you get, you should be entitled to the best of the best when paying a premium in rent.
Pamper Yourself Without Breaking the Bank
So, are luxury apartments worth it? It depends.
If you’re spending thousands of dollars on gym memberships, spa treatments, and renting an office, then you can easily replace those with the ones provided for free.
The good life doesn’t have to be expensive.
It doesn’t have to be limited to amenities. The best complex may not have a spa, but it might be right next to the one you frequent every weekend.
If you enjoyed reading this article, check out some of our other recent posts for more tips on apartment living!