Everything You Need to Know About Living in a Penthouse

If you’re considering purchasing a penthouse, there are several things to consider. From the  views to the extra space, here’s everything you need to know about living in a penthouse:

Unobstructed Views

To begin with, when you live in a penthouse unit you’re usually rewarded with some outstanding views. If the unit is a full-floor residence, you could be in for some 360-degree views, which is usually unheard of with traditional condos. Even units in the same building won’t be able to compare to the views possible from a penthouse unit.

It May Not Be The Very Top Floor

While a penthouse is always high up in a building, buying a penthouse unit doesn’t guarantee you’ll be at the very top. A penthouse often means a top floor unit, but some developers now market penthouse units as larger condos sitting on the top few floors of a building. To use the term, a penthouse has to be more exclusive and substantially different than other units on lower floors.

More Privacy

No matter whether you’re on the very top floor or not, you’ll likely have a lot more privacy. This positions residents farther away from other residents and amenities on lower floors, and from noise of the street and sidewalks below.

Extra Outdoor Space

Oftentimes, a penthouse unit not only means more interior square footage, but extra outdoor space, as well. Some of the units come with two or more balconies or even rooftop terraces. To further entice buyers, developers have been known to add in such additional luxuries as summer kitchens and even private pools.

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Special Privileges

Owners of penthouse units may also enjoy special privileges that aren’t afforded to all residents of the building. This could mean certain amenities that are only offered to residents of the upper floors, including extra storage space, extra parking space and sometimes access to things like a residents-only sky lounge.

Premium Prices

The rewards of living in a penthouse mean you’ll be paying premium prices. Even though the units are larger in size, buyers will likely be paying more per square foot than owners of some of the units located on lower floors of the building.

Less Competition

When you own a penthouse unit, there’s also less competition to worry about in the future. Because there are fewer penthouse units to choose from, there’s less competition if you should ever decide to sell, which may translate to better resale value. 

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