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If you are in the market to buy an apartment, you've probably become familiar with some of the lingo. The terms "turnkey," "rent to own," and "in need of TLC" have likely become second nature to you. You have probably come across the term "luxury" as well here and there, but what does that word really mean in the world of real estate, and especially in the world of apartments? It is a bit vague and it doesn't always mean the same thing in various locations, but here are some things that are likely associated with luxury apartments in Saint Paul, MN. Security A luxury apartment is almost always more secure than an apartment that could not be classified by this term. This may mean that you have a doorman or that only residents of the building have a key to the outside door. There could be a lobby and another set of locked doors before you make it to your apartment. Though luxury apartments are usually located in safer areas anyway, many times security is high on the list of selling points. Luxury apartments are for people who have more money to spend on living costs and therefore they probably have more money to spend on other items as well, making them a target for burglars. This is why security is so important to have in a luxury apartment building. Security cameras, heavy duty locks, and a safe location are all things that you can expect from a luxury apartment complex. Amenities “Amenities” is another word for extra selling points that are not necessarily required to sell an apartment. So in a luxury apartment, you could expect to have new, cutting edge appliances, a washer and dryer in each apartment, and good material for the countertops like granite or quartz. These are all selling points that anyone looking for a luxury apartment would be happy about. Some people who are looking for a luxury apartment would probably even say that they wouldn't consider anything less, and this would be the baseline for them. If you are willing to spend a bit more to have a luxury apartment, you want to make sure that you are getting what you are paying for. Community Features Other things that luxury apartment shoppers often look for but are not always associated with luxury apartments are community features. People who live in an apartment building view the other people in their building as their neighbors. Just like a neighborhood, they have a community like an HOA to make sure that everyone is adhering to the standards to make the building as beautiful and peaceful as possible. You may have to pay an extra amount to keep a pool clean or maintain the landscape outside the apartment. You also may be lucky enough to have an apartment that has a full social calendar so you have the opportunity to meet the people around you and become friends with the people you pass on the elevator every day. Location A luxury apartment will probably not be located on the roughest street in town, but it will also be in a location that will be beneficial to its patrons. Typically, a luxury apartment will be within walking distance to nice restaurants, transportation, grocery stores, and more. You might be lucky enough to get an apartment that has a view as well. Developers who build luxury apartments in Saint Paul, MN, take the time to consider what location would draw people in their price range. You can bet that most luxury apartments are in a location that is desirable to anyone.
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