Apr 22, 2021

Living In A High Rise Building

While nothing I would prefer, there are many in America that live in high rise buildings and there are likely to be more in big cities where land is scarce and even some suburbs in high cost locations.  This could also be the key to more affordable housing in the future, since we are currently 4 million housing units short to fill demand.  

Some are built with an outside terrace usually small; but a little bit of outside for those who need it. The most expensive high rise buildings come with amenities like a door man, exercise facility, pool etc.  Parking if offered would be underground; but in many situations it is off site.   There is usually a homeowner's association in buildings that are owned condos or co-ops that can be quite expensive depending on amenities.  

These high rise buildings can be rentals, or owned condos or co-ops.  It is definitely a different life style to live in a high rise building, but it is an option that could be coming to a town near you.  The question is will it be right for you.  Some people like the fact that they can come and go without the responsibility of any upkeep for the property.  That would be true for most rentals.  There could be many 55 or older high rise building on the horizon to deal with the millions of retiring Baby Boomers. 

In some cities, this is so common that there is no other option.  High rise buildings are the wave of the future.  It could be the answer to the housing shortage in many areas.