14 Benefits of Penthouse Living

If you’re looking for a luxury home without the incurred costs or maintenance associated with a large, detached property, an Edmonton penthouse may be just what you’ve been searching for.

Here are our top 14 undeniable perks of penthouse living:

What is a Penthouse? 

Traditionally, a penthouse was defined as the top-floor luxury unit of an apartment building or condo. Nowadays, the term is more loosely applied by Edmonton REALTORS® in reference to luxury units differing from the rest of the building in terms of size, style, design, features and floor plan (ultimately making them more expensive).

1. High-End Features

Investing in a luxury penthouse means you’re investing in the best. This includes the high-end features you’ve come to expect from a luxury property. Whether it’s designer lighting, a spa-like ensuite, chef-inspired kitchen, floor plan fit for entertaining or all of the above, a penthouse’s custom finishes and fittings are second to none.

Standard features to expect from a luxury penthouse:

• Substantially more square footage than other units in the building
• A flexible open floor plan
• High ceilings (often nine or ten feet)
• Oversized windows and plenty of natural light
• A roomy master suite featuring luxury master bath
• A fully equipped kitchen, complete with built-in dining area and high-end appliances
• Generously sized entertainment spaces, such as a dining room and/or great room
• Energy efficient systems 
• Private outdoor space
• Direct elevator access to the unit
• And more

2. Amazing Views

Speaking of second to none, penthouse living is known for its unparalleled views. Imagine being able to take in the Edmonton skyline as you sip your coffee in the morning or enjoy the setting sun as you entertain friends in your oversized kitchen or dining area. Of the many excellent characteristics defining these luxury properties, unobstructed views remain high on the list.

3. Outdoor Access and Balcony Space

When it comes to apartment living, outdoor space is at a premium. In a luxury penthouse, however, you can look forward to having your very own personal outdoor space in the form of a large outdoor patio, deck or balcony. Here, penthouse owners can enjoy additional room to entertain their guests, relax in warmer temperatures and dine al fresco.

Note: Penthouse owners are usually responsible for maintaining their own outdoor spaces. 

4. Spacious Floorplans

The pinnacle of luxury and indulgence, penthouse owners also tend to benefit from oversized floorplans. In fact, penthouse apartments often come with more premium square footage than any other unit in the building. Depending on your unique preferences, your luxury penthouse floorplan may include 5,000+ square feet, multiple bedrooms and bathrooms and two (or more) storeys. 

5. Peace and Quiet

Penthouses are also known for their trademark location – on the very top floor. So while you will relish the spectacular views of the city (see above), you’ll also be free from excessive traffic noise and other sounds associated with the hustle and bustle of life in Edmonton.

6. Privacy

As we mentioned, penthouses are defined by their top-floor location. So, unlike other apartment-style condos where you may find yourself with occupants on all four sides, you’ll never have to worry about upstairs neighbours. In addition, instead of having the shared common areas characteristic of many condo developments, you can look forward to your own exclusive amenities – such as a private outdoor rooftop patio or terrace. 

7. Additional Onsite Amenities

Many high-end condo developments offer residents-only access to onsite amenities, which may include everything from additional outdoor recreation space to fitness centres and swimming pools. On top of the exterior maintenance, snow removal and outdoor landscaping services, which come standard, other onsite amenities may include:

• Heated underground parking (may consist of multiple stalls for penthouse owners)
• Guest suites
• Recreation facilities/social rooms
• Storage lockers
• Community gardens
• Owner’s lounges
• Bar and billiards
• Professional management
• Onsite caretaker
• Pet amenities (groomer, doggy daycare, etc.)
• Libraries and media rooms
• Designated outdoor space or playground
• Etc.

8. Lower Utility Bills

As heat rises, penthouse owners generally benefit from the escalated warmth of the units below. In a winter city such as Edmonton, this is an especially welcome perk as you’ll enjoy lower heating costs as a result.

9. Luxury, Low-Maintenance Living

When it comes to choosing between low-maintenance condo living and the desirable features of a detached luxury home, penthouses deliver the best of both worlds. You’ll appreciate having the upscale finishes, layout and privacy only a luxury home can provide with none of the exterior maintenance that comes with owning a single-family property.

10. 24-Hour Concierge Service

Many penthouse properties also come with a private 24-hour concierge. Simply put, a concierge operates as your semi-personal assistant, providing various services and amenities such as postal delivery, assistance with errands, minor home repairs and other benefits such as:

• Dog walking
• Pet feeding
• Plant watering
• Accepting personal deliveries
• Personal grocery shopping
• Assistance making reservations (hotels, restaurants, airfare, etc.)
• And more

11. An Abundance of Nearby Amenities

Penthouses are famous for their proximity to desirable amenities. Whether you’re located within the city’s downtown core or in an up-and-coming neighbourhood in the suburbs, you can count on having everything you need (and then some) within arms’ reach. This includes shops and services, schools, parks and green spaces, entertainment venues, essential commuter routes and much more.

12. A Heightened Sense of Security

Along with the onsite security amenities common to modern condo developments (i.e. fob entry, secured underground parking, security doors and entrances, etc.), many penthouse owners enjoy added peace of mind knowing their upper floor unit maintains a single point of entry. 24/7 onsite security personnel may also be present, as well as in-suite security features such as a sprinkler system, intercom and alarm system.

13. Fantastic Resale Value

As luxury apartments aren’t as common to the Edmonton real estate market as regular condo units, buyer demand generally outweighs supply. As such, penthouse owners often enjoy a healthy return on their initial investment with less need to worry about their property depreciating in value. As a niche market segment, penthouse owners also tend to enjoy a streamlined selling process.

For more information, see our previous post: Our Top Tips For Selling a Luxury Home

14. A Floor Above the Rest

Penthouse living comes paired with a subtle sense of elegance and prestige – a nuance that you won’t find with any other property. A lifestyle all their own, penthouses offer a particular “wow factor” that never ceases to impress thanks to its high-end amenities, tailor-made finishes and unique appeal.

Tips for Buying a Luxury Penthouse:

Work with an experienced Edmonton REALTOR® –  Set yourself up for success by working with a real estate agent who understands both the luxury market and luxury penthouses, in particular. An experienced REALTOR® will not only help you find the right home to meet your wants and needs but will also ensure a seamless buying process.

See also: What to Look For When Choosing the Right REALTOR®

Schedule a private tour – When it comes to researching penthouse properties, don’t rely on photos alone. As luxury homes are often professionally staged and photographed, looks can be deceiving. Instead, ask your real estate agent to schedule a private home viewing on your behalf.

Understand the strata – With your agent’s guidance, be sure to review any condo board/association documents, the property management company in charge and any fees or regulations attributed to the development and your unit. This is an essential step in avoiding any potential (costly) surprises down the road.

Ready your finances – As penthouses represent such a unique slice of the luxury market, it’s not uncommon for sellers to want to see proof of financing, even before agreeing to a private showing. Keep in mind, finances are often more heavily scrutinized within the luxury market, so be sure to talk to your accountant, advisor, mortgage broker and other financial representatives beforehand.

Be patient – Remember, when it comes to your distinct tastes and lifestyle, not all luxury penthouses will be created equal. As such, finding the right unit in terms of floorplan, design, décor, and features may take some time. When it comes to such a significant investment, don’t settle for less. Trust that your REALTOR® will work hard to find you the right home to meet your needs.

Are you considering buying a penthouse or luxury home in Edmonton? As one of Edmonton’s leading real estate teams, the Terry Paranych Real Estate Group has the skills, professionalism, and experience to find the perfect high-end home to match your distinct tastes and lifestyle. For more information, don’t hesitate to get in touch with us. 

We also invite you to take advantage of our free luxury buyer’s resources below: 

Our Exclusive Luxury Real Estate Listings: Explore Edmonton’s latest luxury listings according to property type: 

• Penthouses 
• Luxury Condos 
• Luxury Homes  

The Terry Paranych Group Dream Home Finder: Make your new luxury home dream a reality with the help of our personalized Dream Home Finder.

Related: 

• Our Top Tips For Selling a Luxury Home
• 6 Key Benefits of Purchasing an Infill Home in Edmonton
• 7 Essential Home Features for Move-Up Buyers

Originally published July 17, 2020, updated Feb 4, 2022

Photo credits: shutterstock.com

Categorised in: Home Styles

This post was written by Terry Paranych Real Estate Group