This type of apartment promises absolute luxury above the rooftops of the city. Would you like to rent or buy an apartments for sale in Islamabad and are you looking for the ideal type of apartment? There are numerous apartment types on the Islamabad real estate market, such as the terrace apartment , the loft or the apartment. Here we present the penthouse to you. Penthouses are high-end apartments, often luxuriously appointed with large windows that flood the space with natural light and allow you to take in the breathtaking views. Although luxury has its price, there is always potential for savings. What you should look out for in a penthouse and how best to get one is revealed here. Let yourself be carried away into the world of the luxurious penthouse, maybe it will also be your next property.
Penthouse apartment: What makes the extravagant real estate?
Similar to the loft , penthouses originated in the world and were a way of creating exclusive living space above the city’s houses. Precisely because there is little space for single-family houses in the city center, the free flat roof areas have been used to create more living space that meets the needs of wealthy customers. The concept has survived to this day and has also spilled over to us in all over the world, less often in the form of entire penthouses and much more than penthouse apartments. The luxury factor has been retained.
Are you looking for suitable apartments for sale in Islamabad – whether as a tenant or investor? Then take a look at our guide to apartment types AZ !
Features of a Penthouse: Great views and lots of space
The location on the roof or on the top floors of a building leads to special qualities of the living environment, which otherwise only a few properties bring with them. On the one hand, this results in a very special view, which in itself already has its price. In addition, terraces and roof gardens that belong to the property are much more common in penthouses than in other types of housing. All these circumstances mean that penthouse apartments are among the most exclusive types of housing. Additionally, a lot of penthouses are larger than the average dwelling unit. This automatically means that several bedrooms and often multiple bathrooms are also part of the apartment.
Penthouses vs. Penthouse Apartments: Comparison and Differences
In the previous text, penthouses and penthouse apartments were used more or less synonymously. Although there are many similarities between the two types of housing, they are not exactly the same thing.
Pros and cons are often very similar and applicable to both types. Nevertheless, we would like to tell you about the small but subtle differences. Especially if you are looking for a new flats for sale in Islamabad or even your first home, it is relevant for you to know the differences between the two forms.
Penthouses are actually entire, smaller houses found on top of an apartment building. This form of house makes sense especially in large cities with huge apartment buildings, as it can offer a unique living experience to well-paying customers.
Penthouse apartments are usually in no way inferior to penthouses in terms of the quality of their furnishings, but this is not a house, but often the well-developed top floor of an apartment building, which has also been equipped with terraces or balconies. Nevertheless, you can also count on a large living space here.
Penthouse Pros & Cons: Height, Location & Prices
Despite the high demands that construction project managers place on penthouses, the top-class living experience cannot be enjoyed without disadvantages, which can be easily avoided if implemented correctly and are hardly weighted.
Advantages: Living on a large area with a view and tranquility?
Of course, penthouses and penthouse apartments come with a number of advantages that differ from property to property. In any case, luxurious furnishings can be expected, but this depends on the individual apartment. However, you can almost always enjoy the following advantages:
Terrace and balcony areas
Large living space
luxury equipment
Cons: Not for those afraid of heights – costs and prices
It is in the nature of this form of living that the apartments are at the top. The associated view and the wide outdoor areas make penthouse apartments extremely attractive. For some, however, this also has a few disadvantages:
Nothing for people afraid of heights
Large window areas which need professional cleaning
Often expensive
Rare: A penthouse is harder to find than an apartment or an old building, for example
Penthouse as an investment? Yield, Investment & Profitability
When it comes to investments, many see real estate as a suitable option, as there has been a great increase in value in cities in recent years. In addition, the demand for certain types of housing always falls and rises with demographic trends. Real estate is still one of the most popular forms of investment. You can find out what this is all about below.
Why real estate? Buying and renting: Yield & income
Real estate is often preferred as an investment to other forms of capital investment because, with good management, it sometimes yields higher returns and also never completely loses its value. Some also associate real estate with the opportunity to be jointly responsible for the value development.
However, as always when it comes to financial investments, it is important to keep in mind that these are always associated with a basic risk, which is not eliminated by a protective law. It is therefore advisable to inform yourself extensively about the options.
The classic purchase of a property is valued as a direct capital investment and is regulated by a contract, but owning and, above all, renting out a property means a significant amount of work. The part-time job should not be underestimated. It is also important to know that rental income also affects the tax class.
Real estate financing
Checklist penthouse: What should be considered when buying
Have you thought about buying your new apartment and decided that you want to take the step to finally become a homeowner? Then we have the ultimate checklist for you with points that you should definitely check before you buy.
window insulation
Utility bills from previous tenants
Alignment & Sunlight
renovation needs
neighborhood
Proximity to public transport
parking facilities
Realtor: Better chances of the perfect penthouse?
Especially when it comes to luxury properties such as penthouse apartments for sale in Islamabad, it is often worth hiring a real estate agent to look for the right apartment for you. Open viewings in penthouse apartments are rare and usually these are advertised exclusively through realtors.
In addition, self-construction is pretty much out of the question. The best thing to do is to take a quick look at residential projects in the area that interests you to get an overview of offers and prices. If you find that the options don’t suit you, a real estate agent can help you find alternatives.
Agents usually know the housing market of the city in which they operate like the back of their hand and will certainly be able to tell you where to find properties that meet your requirements and also help to test your ideas as needed and adapt to the circumstances.
Broker commission and assignment
Many find that hiring a real estate agent can make house hunting easier. That’s actually the case, but you should keep your eyes open when looking for brokers, because brokers are not a protected job title. In theory, anyone can call themselves a broker.
A couple of red flags when hiring a broker can be, for example, that payment is required in advance, because the broker’s fee is actually a success fee and is only due when an apartment is brokered. Certain services can of course be billed in advance. However, these costs should be treated transparently from the start.
For example, if you notice that a broker keeps charging you for things without discussing them with you beforehand, then you should definitely address this and see if the cooperation changes as a result. Especially when looking for an apartment, the broker’s fee is legally capped. This must not be higher than two net cold rents plus sales tax.
Purchase contract: Have it checked or check it yourself
The purchase of your first property is almost complete. You are standing in front of your purchase contract and suddenly you panic. What if there’s something in there you missed? Let’s take a step back and then come back to your contract.
Before the purchase contract: care and attention are required
Have you looked at the land register ? This can give you insight into many things that could otherwise potentially cause problems. Who are the neighbors, is the seller really the sole owner?
Do you have complete plans of the house and grounds and do they match what you have seen. An honest seller should be willing to provide you with all the documents, after all, they have nothing to hide. In addition, you can obtain the extracts from the land register independently of the seller on the Internet.
Potential pitfalls in the sales contract: checklist
You should receive the purchase contract from the notary at least two weeks before the scheduled date so that you can check it properly. Help from a lawyer is definitely beneficial here. However, if you want to check the contract yourself, you should definitely pay attention to the following points:
Full details of seller and buyer
Unique designation of the object of purchase
Fixed prices and deadlines
Fixed handover time
defects
More on the topic: Luxury Islamabad real estate as an investment
This article has not yet been able to answer all questions, or you would like to find out more? We offer a wide selection of additional articles that answer further questions, such as: What do I have to look out for when buying real estate, or is real estate worthwhile as an investment? If you are also interested in real estate as an investment, take a look at our statistics on trends in the real estate market!
