Bigger and Better Condominiums by Design

When looking for something bigger but more affordable than a penthouse, some buyers are purchasing residences that combine multiple units into a single space. According to a recent article in the Miami Herald, the latest trend in pre-construction sales is turning up along the South Florida coast – especially in Fort Lauderdale, where the real estate market is among the strongest in the area. Wendy Marks Pine, director of sales at Auberge Beach Residences & Spa, notes that they are seeing “a steady uptick of buyers looking to make their residences unique and tailored to their lifestyle.”

Buyers are finding it easier to make changes to floor plans during the construction phase, rather than waiting until a building is completed. Not only does it provide the buyer with more options, but also avoids potential problems when a neighbor is unwilling to sell. Combining existing condos comes with additional hassles, such as added costs for permits and hiring of contractors. Design-wise, it may be more difficult to create additional space without tearing down walls for the ever-popular open concept.

In the pre-construction/construction phase almost anything is possible. Once a contract is written, the architectural team will step in to work with the buyer and ensure they get exactly what they want. The process, though streamlined, is detailed and can take 30 to 60 days to complete the final plan.

Buyers in Fort Lauderdale are predominantly looking to downsize from larger, single-family homes to smaller residences that offer first-class amenities without the burden of keeping up a home. However, they do want ample space for art collections, entertaining and/or visiting guests.

Penthouses are always the most expensive units in the building, as they are the largest and come with a certain cache. Combining units in lower floors may sometimes yield a space larger than a penthouse and closer to the white sandy beach.

Creating a unique layout can also come with a future bonus. The South Florida real estate market is highly competitive and buyers are always seeking something special. If an owner wishes to sell a standard unit, their listing will be compared to many others on the market. If, however, the residence has a customized floor plan, it would certainly stand out among the competition.

Throughout South Florida, more people are opting to make once vacation homes their primary residences and are, therefore, seeking larger condos. With a favorable tax rate and year-round optimal weather, why wouldn’t they?

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