Buying Luxury Real Estate in a Major U.S. City: 5 Things to Consider

There are things you’re certain to take into consideration any time you start looking for real estate, but when you’re searching for luxury digs in a major urban center, where space is at a premium, square footage and cost are sure to be at the top of your list. That said, there are a few other considerations you’ll want to address before you settle on your new address. Here are some things to think about when buying luxury real estate in a major U.S. city.

  1. Parking. Plenty of people in urban centers rely on trains, taxis, and other forms of mass transit to get around just so they can avoid the hassles of circling the block in search of a spot or trying to squeeze into spaces the size of a postage stamp (or worse, get out of them). But there are certainly times when having a personal vehicle is handy. And unless you want to pay top dollar for a space in a nearby parking garage that rents by the month, it’s not a bad idea to seek out luxury real estate options that come with some form of parking included. If you’re lucky, you might even end up with attendants that will have your vehicle washed and maintained for you.
  2. Architectural style. The word “luxury” implies a certain attention to detail, and this can quickly be spotted not only in the materials and finishes used in construction, but also the architectural features present in a home. You don’t necessarily have to look for columns on the front porch or archways and alcoves aplenty inside, but you’ll definitely want to get your realtor’s take on the style of any property you visit. The last thing you want is to discover down the line that your home features mix-and-match architectural styles that make it difficult to decorate.
  3. Storage. Let’s be honest: what we’re really talking about here is a walk-in closet. While you certainly want to make sure your luxury accommodations feature plenty of storage space for your linens, media collection, and dishware, a property without a walk-in closet in the master bedroom hardly qualifies as a luxury establishment.
  4. Behind-the-scenes features. Not every aspect of luxury living is outwardly visible. What you can’t see is just as important, and this includes features like adequate insulation and ventilation, modern plumbing and fixtures, soundproofing, and an electrical system capable of handling the demands of a modern homeowner. In this day and age, you should also look for smart home amenities that allow you to control anything and everything electrical with a remote or even your smartphone.
  5. Location. Whether you’re buying a luxury home in Beverly Hills or you’ve got your eye on Urbana Fifth Avenue luxury rentals opposite Central Park, one of very few Fifth Avenue rentals that pairs spectacular views with luxury, NYC living, you’ll find that location is a major consideration when purchasing luxury real estate. In fact, it tends to be the top priority for most home buyers. But while many people are looking for a location that’s close to work or to family, paying top dollar for high-end real estate requires something extra, such as stunning views, a gated community, exclusive access to neighborhood amenities, and so on. And these extras are part of the reason why some real estate listings in major U.S. cities are classified as luxury.

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