Buying a new home used to just entail finding a floor plan that accommodated the entire family, but these days developers are focusing more on amenities to attract potential home buyers.
According to NorthJersey.com, the emphasis on amenities isn’t limited to homes. The Modern, a 47-story rental tower in Fort Lee, NJ, is one of many apartment buildings around the country that have added a litany of perks to boost their appeal with tenants.
Regina Song, who lives in The Modern with her husband and two daughters, was surprised when she realized just how extensive the list of amenities is in her new apartment building.
“I didn’t realize how much the amenities would impact our lives until I moved here,” Song said. “I say it’s like having extra living space for us. We don’t just live inside the apartment.”
Song’s husband often gets some work done in the building’s private business center before relieving some stress with the on-site golf simulator. Her daughters enjoy practicing their ballet in the yoga room when classes aren’t in session.
“The playroom is so important for my girls — the karaoke machine, the Xbox, and the giant TV where you can play your own Disney movies,” Song added. “We were awestruck when we saw it all.”
As one might expect, luxury condo buildings have also taken note of the recent race to offer the best amenities. According to The Wall Street Journal, a New York City apartment building at 626 First Avenue has designated its entire top floor for amenities, including a rooftop pool with personal cabanas and a bar.
“All residents, whether they live on the lowest floor or the highest, should be able to enjoy the commanding views,” said Michael Stern, one of the building’s developers.
In years past, developers would wheel a stationary bike into the basement of an apartment building and call it the “amenity room.” Now, amenities have become a central factor in the home-buying process for many, and developers are upping the ante with resort-style add-ons to attract more tenants.
Amenities have always been an important selling point for private housing communities, and the perks desired down South are much different than the ones being offered by NYC high-rises. In places like South Carolina, for instance, developers use the beautiful weather to their advantage when deciding which amenities to offer residents.
“Having a much warmer climate in South Carolina, we’re outdoors for most of the year,” says Amy Zamostny, Marketing Director, Reed Group/May River Preserve. “Outdoor amenities are definitely favored especially if they are community-centric like pavilions, pools, walking trails, and outdoor kitchens. Of course, you can’t help but enjoy relaxing beachside either!”
As for The Modern, developers have even gone as far as employing a “lifestyle director” to make sure that tenants are enjoying all of the amenities at their disposal. This lifestyle director hosts cocktail mixers, football nights, and even cooking classes for residents to attend.
As the tastes of home buyers continue to evolve, it would not be surprising to see developers invest even more resources into adding amenities that will draw residents away from other real estate options.