As with any multi-living development, the key to knowing which amenities are right for your residents is dependent upon the demographics of the area your looking to build. As developers, it’s important that you know which amenities are essential to your residences living experience in order to ensure your targeting the right market. Here are the top five amenities that are standing out above the rest as must-haves for condo buyers.
The Rooftop Experience
What was once known as the clubhouse experience is now becoming known as the rooftop experience. Condo buyers are looking for spaces where they don’t have to leave home unless they have to. Collective spaces like lounges, cafes and gardens have always been appealing to the buyer as they can experience the feeling of being away from home just outside their doors. Where in times past, these areas were designed within the building or a neighboring building like a clubhouse. Collective spaces such as these are now moving up, literally! Buyers are paying close attention when looking for amenities where they can experience fresh air, views and the appeal of the ‘high’ life.
High rise buildings in general seem to be the desired preference of condo buyers, so it’s no wonder that a rooftop experience holds such a glamorous appeal. The creativity behind your rooftop layout is without limitations. Swimming pools, outdoor grilling areas, fire pits and space to wine and dine private events are just some of the options developers can look at. Not only is there space to be creative, but space within the building is then left to provide other amenities for future residents.
Health and Wellness Facilities
Want to know what the highest ranked amenity is for condo buyers? High end health and wellness options. Once again, the resident has everything they need right outside their door and what most people leave their home for besides the daily grind, is the gym. No longer having to worry about separate membership fees, they can stay close to home and enjoy everything they would at the gym right in their own living space. This option also enhances the idea of community within a building which makes for a more enjoyable residential experience. .
These facilities can be anything from yoga studios, fitness rooms, racquet or basketball courts, saunas, hot tubs and even luxury spa services that offer massages, facials, hair stylists and more. Buyers are looking for convenience so bringing to residents what they would already look for outside of home is of great appeal.
A Tech Savvy Approach
There was a day that we couldn’t even imagine the advancement of technology as we know now. We live in a digital world where everything is advancing before the newest piece of technology is even on the market. So what does that mean for developers? As with anyone, it means you have to think about how to keep up with what is currently in highest demand. New smart technology is being introduced anywhere and everywhere we look. Not only do we have smart phones but our living quarters can now be filled with smart appliances, smart tvs, smart lighting and the list goes on.
If smart technology is the technology of the future, then as developers you want to offer what people are expecting. People are buying the latest piece of technology not only to keep up with everyone else but because of the convenience and long term savings they potentially offer. Smart lighting for instance, draws people because of its eco-friendly attributes or there are the smart thermostats where residents can adjust indoor temps right from their phone, keeping heating and cooling costs down. With perks like this, who wouldn’t desire smart technology! With smart technology being integrated into everyday living it only makes sense to offer these advancements within your multi-living developments.
Family Friend Features
When thinking of family friendly features it’s important to look once again at the demographics of your area. What are the ratings of the schools in the area? Are there higher numbers of adolescents versus younger children or are the numbers of younger children greater? Knowing your demographic is essential when deciding what features will be tailor suited to your residents. Game rooms where older kids can hang out is appealing for families with older children as they may desire to keep them closer to home instead of venturing into the city. Play areas or even on site day care is highly appealing for the family with younger children. Sometimes just offering community focused events and group enriching activities are all you need to create an appeal for the buyer.
It’s become largely apparent that the overall population is thinking about eco-friendly products and services. Not only are they cost efficient for the resident but they generally appeal to the everyday buyer who believes in helping the environment. According to Yales’ annual climate opinion map , 70% of Americans care more about the environment than economic growth. Whether that’s something one agrees with or not, it shows where the majority rests when it comes to going green.
Outside of popular opinion, buyers understand that investing in sustainability equates to saving in the long run and who isn’t for saving! Many buyers are starting to think outside the box when it comes to environmentally friendly products used in the construction process of their home. Things like low volatile organic compound paints, carbon monoxide sensors, high efficiency heating and cooling systems and windows that are designed to minimize heat loss are all on the list buyers are looking at. Along with investing in efforts to reduce water and energy usage, condos that are choosing more eco-friendly options are no doubtedly becoming the greater appeal.
Whether it’s going green or creating the rooftop experience, amenities are a must! Knowing your market will help you match your dollar and give future residents what they’re looking for.