News   Our Thoughts   The pros and cons of buying a penthouse apartment

The pros and cons of buying a penthouse apartment

Published on 14th September by Peter Scott

The pros and cons of buying a penthouse apartment

Pros and cons of buying a penthouse apartment
When it comes to choosing an apartment, it doesn’t get any better than the penthouse. Perfectly placed on the top floor, a penthouse apartment is often regarded as the epitome of contemporary, luxury living and is often hard to beat, especially if you have those killer million-dollar water or city skyline views to go with it.

Imagine owning a property that has your very own spa or swimming pool or even a games room, with the highest quality fittings, finishes and fixtures throughout. The concierge knows you by name and you even have your own private lift to your very own floor. Life can’t be bad!

However, before you say anything, a penthouse isn’t just for the rich and famous. With usually three or more bedrooms, a penthouse apartment could also be the perfect new home for a growing family, or a couple looking for the high life and the best fixtures and fittings on the market.

So, if you’ve got a spare few million dollars lying around, are penthouses really worth the money, or is it better to split your money in half and purchase two properties instead?

To help you decide whether a penthouse is really worth splashing out for, we’ve put together our pros and cons of whether you should buy a penthouse apartment.

Pros of buying a Penthouse Apartment


1) Best of the best

Purchasing a penthouse apartment is often seen as a statement property to tell the world ‘you’ve succeeded’. Not only are you met with unrivalled quality, luxurious fittings, finishes and fixtures, you also get to lead a privileged lifestyle and soak up a first-class experience.

2) Killer views

Let’s face it, it’s all about the views when buying a penthouse! If you purchase a penthouse in an apartment building that is taller than its neighbours, then you will experience some of the best views in town. Watch the sun go down over the city whilst hosting a dinner party or watch the ocean waves roll in. It certainly is a view well worth waking up to every morning.

3) Peace and quiet

When you purchase a penthouse property, you can make the most of being undisturbed and enjoy absolute privacy and a better night’s sleep. There’s no foot traffic outside your door, no screaming kids, barking dogs or slamming doors. You may even have your own elevator or exclusive access to your floor allowing you to escape from your neighbours and hide out in your own private sanctuary.

4) Better layouts

Penthouses also tend to have better layouts than other apartments and are generally far more spacious than other apartments in the same building. Make the most of spacious living areas, generous outdoor spaces, plenty of light and higher ceilings. You may also have private penthouse amenities which is exclusive to you.

5) Lower heating bills

As heat generally rises, you may find that it costs less to heat up your home during the winter months. However, having said that, it might cost more to keep cool during the summer.

6) Option to expand your penthouse upwards

if the building hasn’t sold its air rights, then you may have the opportunity to expand your penthouse and build upwards. Keep in mind though that some penthouses are split across two levels, giving you more space to enjoy.

Cons of buying a Penthouse Apartment


1) Penthouse Premium

Of course, when you buy the penthouse apartment, this comes at a premium. The top floor apartment is always going to be the most expensive, but it will also be the most luxurious.

2) Not good for mobility issues

If you or someone you live with has mobility problems, living in the penthouse apartment might not be the best choice for you, especially if the lift breaks down or there is an emergency meaning you need to use the stairs. If you have pets, this could also be an issue. Also keep in mind if there is an emergency, it will take longer to get out or emergency persons to get to you.

3) More exposed to adverse weather

The higher up you are in an apartment building, the more exposed you are to the weather such as the wind, rain and storms. You may be more susceptible to leaks being right beneath the roof.

4) Outdoor space

If you plan to have plants on your outdoor space, it’s important to keep in mind the change in temperatures depending how high you are. It might be harder to keep plants alive outside.

If you are a first home buyer, then the chance of owning that dream penthouse apartment might not be possible just yet, but by purchasing the right first property, you could set yourself up to purchase a penthouse apartment sooner than you might think.

Penthouse apartments are a great property choice though for those who want added luxury, privacy and a greater lifestyle appeal and could be the dream property you’ve been looking for.

Get in Touch

Fancy owning a penthouse apartment or want to learn how you can make your dream a reality? Get in touch with the expert team at iBuyNew where our Property Consultants will be able to unveil our incredible penthouses for sale right now and reveal the secrets of how you can reach the pinnacle of apartment living sooner than you might think.

Interested? Call iBuyNew today on 1300 123 463.

Peter Scott

Peter is a specialist in inner city off the plan apartments in Melbourne. He is a pure professional and can help any customer with their off the plan purchase. For more information, contact Peter by email, peter@ibuynew.com.au, or call 1300 123 463.

Did you like this article?

Sign up to the iBuyNew newsletter to receive more articles and property news straight to your inbox.

RELATED ARTICLE

As seen In the media

3 reasons to choose iBuyNew

Our sole focus is new property

We help you review, compare and choose your ideal off the plan property around Australia

Largest selection in Australia

Choose with confidence knowing you have considered, compared and selected from all our available options

Total Service ManagementTM

We provide you with the decision assistance and guidance from ‘selection to settlement’ and beyond


As featured in: