The real estate market took quite a big hit back in 2020 due to the pandemic. Many property experts were worried over the thought that the market would never recover from such a hit. Thankfully, that ordeal has come to pass, and it seems that the real estate market is back in business.
Brokers now believe that the market will soon be back to normal. This is especially because travel restrictions have been lifted, and wealthy buyers are looking forward to investing in some luxury real estate. Compared to 2020, the situation is much better and will continue to improve.
And it is not just buying real estate that is going to see an increase but renting luxury apartments and properties will become normal as well. You can see this for yourself in areas like Texas, where despite the high rents, people are willing to spend money on them.
Standard of life is a big factor that goes into renting such luxury properties, but it is not the only factor. While renting luxury property in an area like Texas, you have to consider a few other important things as well. And in this article, we will delve into those factors, and see why you have to consider them before you decide to rent a luxury apartment.
Start with the Apartment Size and Its Rent
In most luxury properties, you can either rent a one-bedroom apartment or a two-bedroom apartment. They will mostly come with a kitchen, balcony, and one or two bathrooms. As long as your family members or roommates do not have a problem with sharing one bathroom, avoid going for the apartment with the extra one. Otherwise, you will see the costs rise by at least another thousand dollars. You can also rent a studio apartment if you are living alone or with just your partner.
On average, luxury apartments (studio, and one bed + bath) in Houston, Tx, costs around $1,200. So you can consider that as the benchmark for almost all other locations across Texas. Luxury Houston apartments under 700 sq. ft. will cost around $1,500. Anything above 700 sq. ft. will cost you something around $2,000 – $2,500, depending on how many rooms and bathrooms come with them. For such high prices, you can expect a lot of amenities, open spaces, and of course, security.
Check Out the Amenities
One of the many perks of renting a luxury apartment is that you get to enjoy some of the best on-residence facilities that one could ask for. In most cases, you will find swimming pools, laundry facilities, in-door bars and restaurants, small party halls, gaming cafes, etc. inside your building or area.
In Houston, and all over Texas, you are bound to find at least one fitness center and a bar in your luxury building. So as long as all these amenities are there, along with others, you can rest assured that you are at the right place to rent an apartment.
How Convenient is the Location
Amenities are fine, but what about the facilities away from the comfort of your home?
Ideally, look for something that is transit-friendly. Good public transit is always a blessing. In case you have kids, opt for a place with the best middle schools or high schools in the city. As a student yourself, a luxury apartment close to your campus will make life a lot easier for you. Rice University in Houston, Texas, for instance, is a small 10 min bus ride from The Sterling luxury apartments. So many students would prefer staying there as long as they can afford it.
Besides, you should also take into account other factors like where the nearest hospital or clinic is, how far away the fire and police stations are, whether or not there are any daycare centers nearby, and so on.
Check More than One Location
The more rentals you check out, the higher the chances of you landing a good deal. Do not forget to visit nearby cities and go through their luxury apartment listings as well. While Houston should be the ultimate location for buying luxury property, you can also expect a few good places outside of it.
Once you take all these into account, you can then proceed to check out other things like the legal documents, tax information, maintenance charges, and so on. With all this done, you can rest assured that you have rented the perfect luxury apartment in Texas.