Many apartment complexes are now marketing themselves as “luxury” to justify high listing and rent prices — but sometimes the label is just a marketing ploy. According to a , the term “luxury” is not regulated, so you may not be getting what you think you are . “‘Luxury’ often gets confused with ‘nice,'” John Walkup, co-founder of the real estate data analysis company , told GOBankingRates.
“Just because an apartment is listed as ‘luxury’ doesn’t mean it’s truly luxury. “True luxury is more about the total package than just surface-level aesthetics. Ideally, luxury real estate should offer top-quality construction with timeless design and exceptional amenities in an enviable location.
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“Privacy is de rigueur at the top,” Walkup said. “If you can hear your neighbors watching Netflix, you’re not in a luxury building.” If the builder skimped on the flooring, it’s not a true luxury apartment.
“True, it can look nice, but it lacks the appeal and refinement of solid or even engineered wood floors,” Walkup said. “If your floor is peeling, your apartment likely isn’t luxurious.” When it comes to appliances and finishing touches, quality matters — especially in the kitchen.
“The heart of the home is the kitchen.