The luxury-condo market is getting more competitive with developers trying to rise above the competition by adding an extra few inches to the ceiling. The standard 8-foot-high ceiling is on the way out with developers bragging about ceilings that are 11, 12, and even 20 feet high. I’m sure it’s just a matter of time before this trend comes to Scottsdale. However, there are many luxury condos for sale in North Scottsdale that do have spacious ceilings.
In San Francisco, a $15 million penthouse under construction will have 18-foot ceilings. In Boston, a penthouse selling for $30 million has 14-foot ceilings. Miami also has a penthouse that sold this year with 18-foot ceilings. While we’re not looking at these prices at homes for sale in North Scottsdale, you can see where higher ceilings are demanding higher prices.
Research shows that raising ceiling height to 10 or 11 feet increases the average listing price by 50% per square foot. That number climbs to 76% for ceilings between 12 and 15 feet. Anything over 15 feet, the price only goes up 28%. While the analysis did not look at North Scottsdale homes for sale, it looked at comparable priced condos at $750,000 or more in New York, Illinois, Southern California, Massachusetts and South Florida in July.
High ceilings are usually found in condos that offer luxury amenities such as concierge service. Some cities pressure builders to build no higher than 9-foot ceilings. Since 1986, condos with a base of 11 feet have been built.
Keep in mind, though, with higher ceilings, whether in your North Scottsdale home for sale or elsewhere, comes the challenge of changing lightbulbs. Cleaning can also present a problem.
When it comes to buying a condo in North Scottsdale or another neighborhood, higher ceilings not only give the place a more spacious look, but when it comes time to sell, the resale value will be that much greater!