Understanding the Value of Interior Apartment Features: Private Balcony, Walk-In Closet, and Kitchen

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iStock_000011630619SmallApartment Features vary from building to building. The features that are most easy to quantify are room sizes. Typically, the larger the apartment, the more expensive the apartment, but this isn’t always true. Generally, a two-bedroom apartment will cost more than a one bedroom within the same building. But this frequently does not hold true when comparing different apartment buildings especially when the comparison is between buildings in different neighborhoods.

Cost of Living Downtown

Apartment buildings in downtown center city districts charge a premium per square foot of living space as compared to other locations outside of the downtown center. Buildings outside of center city often provide residents with greater value; often provide more features, and certainly better and more cost effective parking.

Interior Apartment Features

Interior apartment features vary considerably. However, the importance residents give to these features is generally consistent. Ask any resident the value of having a washer and dryer in their own apartment, or at least a semi-private (limited to a few users) washer and dryer and they will use word adjectives like incredible or immeasurable. Throwing in a load of wash and not having to babysit invariably adds time to one’s day for other activities. Additional advantages include knowing when the machine is going to be available, not having to look for quarters or buy a card, and not having to clean up after someone else. All in all, it is quite easy to understand the importance of this feature to renters. Some residents actually consider this a necessity, not a luxury.

Private Balcony

Additionally, high on the wish list for tenant features are private balconies. They add natural light and fresh air to an apartment, and study after study confirms the importance of natural light and fresh air to our health. Private balconies provide residents a place to enjoy the sun and relax without having to leave the confines of their home. Some apartments window covering package includes balcony window treatments.

Walk-In Closet

Other sought after features in an apartment are abundant closet space (including walk-in closets), and storage space. While many apartments have dining rooms or areas, most households prefer to eat their breakfast or lunch meals in less formal settings and a kitchen big enough to place a small table allows for this. This table often doubles as the household “office” and extra food prep area. Kitchen lighting should be bright, not adequate. Wall coverings like Formica or tile (versus paint) between the wall and base kitchen cabinets make it easier to keep the kitchen clean. A frost free refrigerator and dishwasher is a must, and while it’s not necessary that the kitchen come with a built in microwave, this is a nice feature.

Cooking in the Kitchen

There are two forms of cooking: gas and electric. Many residents prefer gas for cooking, and while it won’t be the determining factor for a final decision, it may be meaningful if one member of the family takes more than a little interest in cooking. The combination of a second bedroom and bathroom makes it a lot easier to manage the needs of a family with children. Bathrooms with full ceramic tile or other like surfaces add to the aesthetics and makes cleaning far easier than painted walls.



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