High-Rise Living: What You Should Know

Looking for an investment property for your college student? Getting ready to downsize and looking to add more luxury to your life? Maybe the maintenance intensity that comes with owning a single-family home is simply something you don’t want to deal with.

Whatever your reason for coming to the high-rise real estate market, welcome! Living above it all in a luxury high rise can be an experience unlike any other. But for those who are going high rise for the first time, there’s a lot that’s unknown about what living in a high-rise condo building will be like.

We’re here to demystify the mysterious and provide some basic intel on what you should know about high-rise living.

You’ll have neighbors galore

One main thing that separates a single-family home from a high-rise condo is the amount of neighbors you’ll have. Unlike single family homes that have neighbors on either side and across the street, condo buildings are teeming with other units.

For those who prefer silence and solitude, the bustling nature of a high-rise building can be a challenge. But for extroverts who love meeting other people and living around them, the number of neighbors and communal activities is a major selling point.

The amenities can be hard to beat

One thing about high-rise luxury living is that it can be hard to go back once you make the leap. From a building located in the heart of a busy urban core wherever everything you need is within walking distance to in-building offerings like pools, spas, and more, the amenities of a high-rise building can be tough to beat.

When shopping for a high-rise condo, it’s about more than just the unit. It’s about the building itself, too, and everything it has to offer.

There will likely be some form of an HOA involved

HOA stands for home owners association and if you’re living in a high-rise building, you’ll likely have one. These entities are made up of residents and, in general, they set and enforce the rules and regulations of a building.

Each resident pays HOA fees that cover the costs of running the HOA. Each one takes a different approach and has different rules that cover everything from pets to renting units and much in between. When you’re looking to buy a high-rise condo, it’s a good idea to at least get in touch with the HOA before closing so you know what you’re getting into.

Some are pet-friendly, some aren’t

If you have furry family members, one thing you’ll need to pay attention to is the pet friendliness of any building you’re interested in. Some buildings flat out ban pets of any kind. Some allow just cats while others allow dogs of a certain size and breed. Some buildings, although extremely rare, don’t have any limitations or regulations on pets.

The best part, though, is that the pet-friendly buildings often have amenities to match. From grooming stations to dog runs and walking services, different buildings have different pet perks to pay attention to if that’s something you’re looking for (or might be looking for in the future!).

Elevators will be your main mode of transportation

As you can imagine, high-rise buildings rely on elevators to transport residents to their doors. On one hand, elevators can be super efficient — some buildings offer high-speed elevators for maximum convenience. Others offer dedicated elevators while some buildings rely on shared elevators.

When the elevators are being worked on or there’s a fire drill, you’ll have to walk from your apartment to the ground floor. If you’re in a high-rise building, this could mean a lot of stairs to contend with. Although descriptions like these are rare, they do happen and it’s something to consider.

There will likely be rules for visitors

Many buildings have rules and regulations around visitors. Whether it’s dedicated parking spaces for visitors or a sign in system of some kind, chances are guests won’t be able to simply walk right up to your front door like they can in other living arrangements.

Of course, many buildings go out of their way to facilitate the process and make it as easy as possible for residents’ guests, but there are things like paid parking on the streets outside of the building that they can’t control.

Parking can be tricky

While many people opt for high-rise living in order to get rid of a car, not everyone who lives in a tall building wants to go car-free. That means that parking spaces are something you’ll have to consider.

Many units come with one or two parking spaces either included or available as add on’s, but not all of them do. Then, depending on the location of your building, parking outside can be an expensive hassle if all of the streets are metered, or you have to descend from your unit on the 40th floor to move your car based on street parking rules.

Say goodbye to DIY maintenance

Getting rid of DIY maintenance issues is a popular reason for turning to high-rise living. A house or a townhome can come with all kinds of additional work, from hassling with broken appliances to yard maintenance and snow removal. When you live in a high-rise building, all of these issues are typically taken care of by the HOA fees you pay.

Living a high-rise life often means never having to hassle with maintenance issues ever again.