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Making The Most Of Your Money: 3 Amenities You Are Overpaying For When Purchasing Luxury Condos

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Condominiums are becoming more and more popular in America's realty market. Condos offer a lot of space, and are convenient for the average household. There are many luxury condos that are affordable for even those who are on a budget. When looking for luxury condos for sale on the market, you want to spend more time looking for endowed advantages that won't depreciate in value, like the location where the condos are in, any architectural uniqueness that may be present, among many other factors.

Some unnecessary features easily increase the price tag without really doing much to improve your quality of living. If you're on a budget, here are 3 amenities that you need to be careful of, as they may end up costing you a fortune. 

A Yard, Lawn or Terrace Space

Most buyers appear to be immediately impressed if they see a beautiful yard, lawn or terrace space; however, the truth is that you probably won't be making the most out of that space unless you own pets. In fact, yard and lawn space may end up becoming a hassle, as you may have to hire a landscaper for maintenance services.

Terrace, yard, lawn and other types of outdoor space are generally valued at 25 to 50% of the price per square foot of interior space. You may end up paying a lot for space that you won't even be using. In short, most experts recommend overlooking the yard, lawn, terrace and other types of outdoor space in order to save money.

The Doorman or Concierge

Although having a doorman or a concierge may make you feel a lot safer, you have to keep in mind that it really isn't the doorman or concierge's responsibility to provide security services. The doorman and concierge's primary responsibility is to handle packages and provide customer care services like handling visitors, although more often than not, they do nothing more than to open the door.  In short, most of the time, you are overpaying for their services.

Most of the tasks that they are responsible for can be achieved electronically nowadays. A virtual doorman can take care of your visitors by unlocking doors for them upon punching in a code or upon your approval, and most postal services can simply deliver the packages straight to your door.

Full Equipped and Upgraded Custom Kitchens

A beautiful, fully equipped kitchen can make a world of a difference to buyers; however, did you know that you can make most of the upgrades yourself later on at only a fraction of the cost? Kitchen upgrades make the condos appear a lot more luxurious to buyers, which causes the cost of the condominiums to go up. Chances are you'll be paying much more on the premiums for a fully equipped kitchen than what the value actually is. You could save a fortune by completing the upgrades by yourself after you have purchased the condominiums. So, if you find an otherwise perfect condominium that is lacking in kitchen appliances, don't scratch it off your list immediately. 

Conclusion

Before purchasing luxury condominiums, make a list of all of the amenities and features that you deem to be absolutely necessary. For example, if you have children, you may want to make sure that the condos are located near public schools for the sake of convenience. A lot of the amenities and features that you are looking for may not be a necessity, or can be easily added afterwards by simply hiring a contractor. By making some compromises and spending some time renovating the condos after purchasing them, you could save a lot of money, but still end up with your dream condo. 

For more information, check out companies such as Azure Realty Cayman.


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