One advantage of living in a mix development is the variety of amenities and community life it provides. They can be cheaper than detached homes and offer a greater sense of community. In addition, they tend to have higher building heights than other condos, so they can have higher ceilings. But what are some of the disadvantages? Read on to find out. Listed below are some of the advantages of staying in a mix development.
Cheaper than detached houses
When it comes to affordability, townhouses and condos can provide an attractive alternative to single-family homes. Many of these homes can be bought for less than half the price of detached houses and can offer new construction and amenities. However, you must consider the downsides of living in an apartment complex. You may have to sacrifice space and privacy. The price of these homes is often determined by the amenities they offer, but you can find some that are tens of thousands of dollars less expensive than single-family homes.
Townhouses and condos can be a good choice for millennial-generation buyers who would prefer privacy and space, or older buyers who are more accustomed to maintaining a larger yard. However, detached homes may not be as convenient as townhouses in terms of community amenities, such as tennis courts and swimming pools. Detached houses, on the other hand, are best suited for older adults who want to live in a more modern setting and do not want to be bothered with HOA rules and fees.
Greater sense of community
A greater sense of community when staying in a mixed development is more likely than in other types of condos. In these types of complexes, residents live in mixed-use buildings, which provide a common ground and HOA. There are common amenities, like pools, clubhouses, party rooms, gyms, and outdoor terraces, which help residents stay connected and engaged with one another. The upscale setting of these communities can make residents feel like cruise ships.
Higher building heights
As the demand for urban living grows, cities are boosting building heights and densities. In addition, the cost of land and fewer available sites are driving development toward the sky. The size of the mixed-use development will depend on the mix of housing economics, demand, and land-use regulations. Some cities, however, have limitations on building heights. Listed below are some cities where higher-rise building heights are permissible.
Access to hotel-style amenities
Many of the most successful mixed-use developments incorporate a hotel, either as a part of a wider marketing strategy or to provide added customer satisfaction. Although this concept is not new, it has taken a new twist with the rise of live-work-play trends. The Peachtree Center, a mixed-use complex in downtown Atlanta, included a hotel. Today, hotels play a new role in this trend, providing planned activities and social events to residents.
Some hotels offer more luxurious amenities than condos. A hotel condo typically includes a pool, fitness center, and spa. More successful developments also include amenities such as bio-saunas, caldariums, meditation dens, and yoga studios. Adding these unique amenities can help set the stage for an extraordinary experience, boosting the product’s premium. But what about the condo?