Are Top Floor Apartments More Expensive – Why Do They Cost More
Buying an apartment is a big milestone and when doing so several things need to be considered, one of them being which floor you are on.
Generally speaking, the higher the floor that an apartment is on, the more expensive it will be. There are several reasons for this including better views, higher status, more privacy, more security, and more natural light.
In this article, we will be taking a deeper look at why top-floor apartments are more expensive, what the disadvantages are of living on a top floor, as well as answer some frequently asked questions about the topic.
Apartment Prices On High Floors Compared To Low Floors
Many factors impact the price of an apartment.
One of the biggest factors is the location.That does not only count for the location in terms of a neighborhood but also the location in terms of where the apartment is located in a building.
In general, the lower floors come at cheaper prices, and the higher it goes the more expensive it gets. The top floors are the most expensive.
Are Apartments On The Top Floor More Expensive
In the big cities of the world, space is a premium commodity.
This has led to apartment buildings being built higher and higher (now named skyscrapers) to offer accommodation to more people in prime areas.
In these skyscrapers, the penthouse which is right at the top will be the most expensive apartment of all. From there the apartments keep getting cheaper the lower they are. There are lots of different reasons for this.
Why Do Higher Floor Apartments Command A Higher Price
We know that apartments on the higher floors of a building cost more to buy and rent when compared to lower floor apartments, but why is this? What makes them more valuable and desirable if the interiors are identical?
Well, top-floor apartments offer many bonuses like views, security, privacy, status, natural light, and an overall higher quality of life.
Can Often Have Panoramic Views Of The City
In big cities, there are many tall buildings. These buildings will block the views from each other.
It is only the tallest of them that gets to see the views from above. The higher the apartment in a building, the better the view will be.
Top floor apartments or penthouse apartments can often have a panoramic view of the city. This view can make you feel like you are living in the clouds, a truly luxurious life. This makes a great view one of the most desired things.
Safer Than Lower Floor Apartments
Apartments on higher floors are generally safer compared to lower floors.
Fewer people are moving on the top floors so you are less exposed to others. It is also more difficult for outsiders to come to the higher floors so it makes it safer from burglars.
Sociologists call it the fortress effect where people feel safer if they put more distance between themselves and the unknown. This increased safety adds to the higher price of top-floor apartments.
Get Fewer Bugs Than Lower Floors
Most bugs and insects will come from the outside or the bottom floors.
Generally, these kinds of pests live on the streets or near the garbage dumps which are all on the ground floor. So, the higher your floor the fewer of these issues you will have.
More Sunlight As They Are Unrestricted By Buildings
Apartments that are on lower floors will generally be surrounded by other tall buildings.
This is bad for both your view and the natural light. The sun will be mostly blocked out so you will hardly get any sunlight.
Getting sun and natural light is a very important benefit. The National Center for Biotechnology explains the importance of windows and sunlight exposure for your overall health.
Often Have Penthouses Or Special Units On The Higher Floors
Living on a higher floor also comes with a level of status that many people want.
Due to this, developers often take the top floors a bit more special than the rest. They will often have additional features, better designs, and more space.
Prestige And Status
There is a level of prestige and status that comes with living on the top floor of a high rise apartment building.
It is similar to office buildings where the higher floors are used for the higher ranking employees. This is a great asset for many people as they make use of the status it gives them.
More Privacy
On the lower floors, there will be a lot more foot traffic which you will not have on higher floors.
On lower floors there are also more buildings around that can look through your windows which higher floors also do not have. This means top-floor apartments are more isolated and their occupants enjoy a more private lifestyle.
Better And More Natural Ventilation
Ventilation is important for keeping a space fresh as well as for overall health.
Top-floor apartments will get more natural air as the wind comes through the city. Lower floors get blocked by other buildings which means less ventilation. And when you do open your windows on lower floors, you get a lot of city noise as well as air pollution.
Less Noisy – No Noise From Higher Floors
Another aspect that greatly affects your quality of life, is the level of sound in the area where you live.
We all know that living in the city is noisy, but it does not have to be. Living on a high floor of a skyscraper means that you hear almost nothing of what happens in the city. You also have much less noise coming from the floors above you.
Less Foot Traffic Outside The Apartment Or On The Street
The higher your apartment is in the building, the less foot traffic there will be.
Everyone from the higher floors needs to travel through the lower floors, but nobody needs to travel up unless you live there. The lower floors can also have businesses or some of the apartment amenities which adds to the traffic.
Elevators Make Getting To The Top Very Simple
Some people might complain that it takes more effort to get to the top floors, but with elevators being as good as they are, it is not an issue.
Elevators make it quick and easy to get from the ground floor to any floor of the building.
Disadvantages Of Living On A Top Floor
Of course, not everything is positive about living on the top floors of a building, there are also a few downsides.
Some of the disadvantages include temperature control issues, higher electrical bills, and increased danger in case of an emergency.
In this video, Civil Engineering Forum explains some more of the disadvantages of living in a top-floor apartment.
Get Hotter In Summer
Higher floors in the building will get more direct sunlight. The sun might also be stronger compared to lower floors.
This adds to the top-floor apartments getting hotter during the summer months. In colder climates, this can be a bonus, but in warm climates, this can become a big disadvantage.
Get Colder In The Winter
Higher floor apartments will also get a lot colder in the winter when compared to apartments on lower floors in the same building.
This will mean you will need to take extra precautions to stay warm during the winter months.
Higher Electrical Bills
Due to the previously mentioned points, hotter summers and colder winters, you will need to spend more on electricity to keep your top-floor apartment cool during summer and warmer during winter.
Air-conditioning and heating use a lot of electricity so the electrical bills will add up.
Hard To Escape In Case Of Emergency
When you are on the top floor of a building you need to travel a long way to escape in case of emergency.
This can make top floors slightly more dangerous. Also if the elevator breaks, you will have a lot more stairs to cover.
Takes Longer To Leave And Enter
Getting from the ground floor to the top floor can take a bit more time compared to getting from the ground floor to a lower level floor.
The ride in the elevator takes longer, but also more people are getting on and off all the time.
Do Apartments Get More Expensive The Higher In The Block You Go?
In most cases, the cheapest apartments in a high rise building are on the lowest floors.
From there, they gradually get more expensive the higher you go. The most expensive of all is the penthouse which is right at the top.
There are however some cases in smaller buildings where the ground floor apartments can have a garden. In these cases, the higher floors might be cheaper than the ground floor.
How Much More Expensive Is A Top Floor Apartment Than A Ground Floor?
It is hard to say exactly what the difference is because each building is different.
It also depends on other factors like how the apartments are different in their layouts. A top-floor apartment can be anywhere from 50% to 1000% more expensive.
Is It Worth Paying The Extra To Live In The Top Floor?
It depends on the situation and the person. It depends on what you value and what you get out of the deal.
There are pros and cons to each.
Are Top Floor Apartments Always More Expensive?
Top-floor apartments will always be more expensive, the higher you go in the building the more you are going to pay.
The number of benefits of top-floor living far outweigh the number of disadvantages.
Apartment Notes also discusses why top-floor apartments are always more expensive than lower-floor apartments.
Top Floor Apartment – Rent Vs Buy
Top-floor apartments will be more expensive both to buy and rent.
Renting will especially be expensive because you pay for the experience short term and it is a high-demand experience.
Are Top Floor Apartments A Better Investment?
Efestio Real Estate agrees that top-floor apartments are better investments.
They do come with their risks, but overall it is a rare commodity and anything rare is a good investment.
Are Top Floor Apartments Easier To Sell?
Top-floor apartments are not necessarily easier to sell. They are more exclusive so fewer people would buy them.
Most people will probably look to save some money by buying on the middle floor.
Middle Floor Apartments Vs Top Floor Apartments?
Middle-floor apartments are a great in-between option.
It gives you some of the higher-floor benefits combined with some of the lower-floor benefits. Bigger Estates takes a further look at how middle floors compare to top floors.
Which Floor Is The Best For Your Health
In terms of overall health, the higher the floor the better it will be.
Top floors give benefits of more ventilation, more sunlight, more security, less pollution, and better quality of life. All of these factors have a big impact on your health.
Which Floor Is The Best To Live On Overall?
The best floor to live on overall, in our opinion, would be 2 or 3 floors from the top.
Here you will get all the benefits of top-floor living but without some of the biggest disadvantages. On top of that, you will save quite a lot of money by avoiding the penthouse apartments, but you will still live in a top-floor or high-floor apartment.
Conclusion
Through this article, we looked at how prices compare of apartments on lower floors vs apartments on higher floors.
We looked at why top-floor apartments are more expensive as well as what their advantages and disadvantages are.
Buying an apartment is a big step and we hope that this article has brought you some clarity regarding what apartment will suit you best. There is no right or wrong. It is just about finding something that will fulfill your needs.
To get an even better understanding, contact your local real estate agent to arrange some apartment viewings.
