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The Finer Points of Condo Finishes
The trend these days, even at the upper reaches of the market, is that some developers are trying to save money by installing the same finishes in every Chicago condominiums unit. With the real estate markets booming this has become a full time business with many people trying to earn as much as possible in one deal. Keeping this in mind, you have to be aware that developers will sometimes try to impose that luxury feeling without allowing you to customize your choice of finishes. To troubleshoot this problem it is advisable to research a reliable realtor.
A good realtor should always accompany their clients when they make finish selections rather than leave them to work solely with the developer’s selections staff. Particularly on the upper end of the market, your agent should have the experience to make suggestions about finishes, even when you are working with an interior designer. An astute Realtor understands the impact of good finish selections on resale value.
Recent trends in high-end finishes in the luxurious Chicago condos include darker stains on hardwood flooring, soaking tubs with separate shower enclosures, and natural stone-marble, slate or limestone-in kitchens and baths. As the architect Louis Sullivan famously said, "form follows function," and his insight should also guide your finish selections. For example, everybody’s first choice would be white marble countertops, as they look great, but they stain very quickly from use. Therefore, the option of dark countertops may be a better choice for a well-used kitchen. The best finishes are aesthetically pleasing, practical, and affordable. The cachet of luxury brands and their role in a home’s resale value also applies in the kitchen and bath fittings. Look for name brands like Sub-Zero refrigerators, Mile dishwashers, Waterworks detail, and Wolf or Viking cook tops and ovens. Premium cabinetry names include Platform, Christopher Peacock, Poggenpohl, and Snider.
In the sales contract of the Chicago condominiums, many developers leave themselves an opening to change or substitute the finish selections. It is important that you clarify what these substituted selections will be and the difference in cost of any upgrades. The contract should state that your finishes would be equal in value to, or the same as, those shown in the model design of the Chicago condominiums.
Particularly with new construction it is important to scrutinize both the contract and the property report for transaction subtleties. There might be restrictions on selling in the first year, or limits on the number of units that may be rented in the building. Find a real estate attorney who knows how to discern the details of the new construction contract and property report. With the prices for high-end luxury Chicago condos properties in Chicago approaching $1,000 to $1,200 per square foot, you need a good real estate agent who understands your lifestyle and will represent you by asking the developer’s realtor detailed questions in case of any dispute.
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