Are you from Oklahoma City and eager to find the right luxury condo for rent? If so, don’t hesitate to spend a few minutes reading this article. We will talk about the different ways we can distinguish between ordinary and luxury apartments.
There is a growing demand for luxury homes for rent
There has been steady and continuous growth and recovery and the luxury market is showing positive growth. However, it cannot be denied that there is still a greater demand for regular apartments due to cost and affordability factors. Especially the wage earners and the middle class continue to bring in regular apartments.
The real estate sector is growing very fast. 60% of the starters are willing to invest their money in regular apartments. Once they have an experience, they wouldn’t mind buying luxury apartments because of a higher income, a better understanding of the real estate market, and so on.
However, as a potential buyer, you need to understand the difference between luxury and regular apartments. This is important as there could be some savvy homeowners and promoters who could try to sell plain apartments as luxury apartments and make some cosmetic changes. That’s why we’ve listed a few key points that can help you differentiate between regular condos and luxury condos in Oklahoma City, OK.
This is of course the biggest difference between a luxury apartment and regular apartments. Luxury apartments would cost at least $ 500,000 and could go up even further depending on size and location. Anything under $ 400,000 can be considered a regular apartment.
Hence, this is one of the most important factors to consider. If you run into vendors trying to sell a $ 200,000 home as a luxury condo, rest assured you will be taken for a ride.
If you are looking for a luxury apartment as a purchase and from an investment perspective, then you certainly have a much greater chance of a higher return on your investments.
Luxury apartments are considered high performing assets and you can expect them to deliver a minimum of 100% return on their investment over a 15 to 20 year period. This compares very favorably with regular apartments where the return on investment can be around 60% to 70% at best.
Amenities and amenities
The next important point is the kind of facilities and amenities you can expect from a luxury apartment. Whether it is better quality of rooms, living rooms, communal area, swimming pools, children’s play area and the like, there is no doubt that luxury apartments will have the best quality in this regard.
Even when it comes to luxury apartments, you can expect the best security features. It can range from high-security CCTV and other surveillance facilities, but also 24-hour security personnel will be there to ensure the overall safety and security of the entire apartments that make up such luxury residential complexes.
Therefore, you should definitely spend your time and be sure to rent or buy a truly luxurious apartment if you can afford it.
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