The evolution of trends in condominium amenities

Since the proliferation of condo projects, amenities have greatly evolved, adapting to the changing needs of society.  Amenities that were once a luxury are now considered basics.  Hardwood and laminate floors, stainless steel appliances, the fitness centre, the spa, the pool, and the concierge desk are now standard features in today’s condominium complexes.  Other features such as business centres, which were all the rage a few years back, have been replaced with the conference room or board room, large pools are being replaced by smaller ones with currents to swim against, or spa-like areas with hot tubs and saunas.  

New condominium amenities include the yoga studio and massage room, the theatre room with the big screen and comfortable chairs, fancy party rooms, and guest suites allowing owners to make use of common amenities while saving on the square footage in their unit. More luxurious features include private wine cellars, humidors, infinity pools and screening rooms.  Up and coming trends to look for are Wi-Fi connectivity, media rooms, grocery stores, art collections, rooftop sculpture gardens, and outdoor amenity decks with tennis courts, pools and pet walks.  When shopping for a condo, the most important features prospective buyers seem to be interested in are gym facilities, 24-hour security and concierge, and visitor parking.  With parking in urban areas hard to find, and costly when available, prospective condo owners like seeing more spots for guests and visitors.

While amenities are attractive and appeal to many buyers at first glance, smart buyers are aware that the more amenities a building has, the higher the condo fees will be.  Th is is especially the case with pools and security, as those features add to the expenses.

So as new condos continue to emerge with newer and state-of-the-art amenities, keep in mind the features that always help with resale or add value to a property are a modern and updated lobby and security, especially among single females who are an important segment into today’s real estate market. Rooftop patios with a view for use during the warmer months are also coveted.

More information and advice is available from a real estate agent or online at royallepage.ca.

Source: New Condo Guide