What Is A Penthouse? Advantages Of Living In A Penthouse
What Is A Penthouse?
A penthouse is a luxurious unit located on the top floor of an apartment building, condominium, hotel, or tower. It is typically considered different from other apartments due to its high-end features.
The term “penthouse” was originally used to describe a small house built on the roof of an apartment building, and sometimes it still has that meaning.
However, today, luxury high-rise buildings often designate multiple units on the top floor or several higher floors as penthouse apartments, equipped with high-end fixtures and designs that set them apart from other floors in the building.
These units are usually not set back from the building’s outer walls and are just larger, more luxurious, and more expensive than other units in the building. Additionally, some high-rise buildings have mechanical penthouses which house machinery such as elevator drum mechanisms.
Design Of Penthouse?
Penthouses stand out with their luxurious amenities like top-notch appliances, high-quality materials and flooring. They may also have private entrances or elevators, and higher/vaulted ceilings which are not common in regular apartments.
Penthouse apartments can be multi-level, have terraces, fireplaces, larger floor space, larger windows, multiple master bedrooms, offices, hot-tubs and more. They often boast high-end kitchens with stainless steel appliances, granite countertops and a breakfast bar or island.
The residents of a penthouse usually have stunning views of the city skyline. Access is usually provided by a private elevator, and residents can enjoy a variety of building services such as dry cleaning, dining delivery, restaurant and event reservations, and concierge services.
Development Of Penthouse
Penthouses, living spaces that utilize rooftop areas and setbacks, have a long history in Europe with architects and designers recognizing their potential. In the 1920s, the US saw the emergence of these upscale properties, with the first notable development being atop the Plaza Hotel in New York City in 1923.
The popularity of penthouses was due to the setbacks allowing for much larger private outdoor terraces compared to traditional balconies. Buildings began to be designed with setbacks to accommodate these terrace apartments on the upper levels.
Today, penthouses may or may not have terraces, with upper floor space divided among several apartments or a single apartment occupying an entire floor. They also have private access to the roof, terrace and setbacks.
Advantages Of Living In A Penthouse
Benefits of Penthouse Living:
- Unobstructed View – Penthouses offer a bird’s eye view of the city as they are not obstructed by nearby buildings.
- Spacious Floor Plan – As the topmost unit, a penthouse often offers a larger floor plan with outdoor space.
- Increased Privacy and Security – Penthouses often have private entrances, ensuring that neighbors or guests won’t disturb you.
Disadvantages Of Living In A Penthouse
Penthouses come with a high price tag and costly maintenance costs due to the larger space and luxury features. Before purchasing, it’s important to understand the definition of the term “penthouse” in real estate and be financially prepared.
Be wary of upsells and consider the long-term expenses of living in a penthouse, such as cleaning and costly repairs.
A good financial projection will help determine if you can afford both the upfront price of a penthouse and the ongoing costs of living in one.