Lofts are popular options for people looking for low-maintenance housing. Lofts are generally converted from old warehouses or factories and are usually located near the center of large cities. If you are thinking of buying a loft, here is what you need to know.
Why Should You Buy a Loft?
One of the main reasons to consider a loft is that they are relatively low maintenance. Since there is not much to the loft and no exterior maintenance to worry with, it is an ideal housing situation for people who are not ready to take on the commitments of owning a more traditional home.
Lofts usually have a lot of natural lighting and open spaces. The lack of walls gives you the freedom to design your home to meet your needs. Instead of being restricted by a floor plan, you can add and remove walls as you see fit.
There are other architectural benefits to living in a loft. For instance, they have high ceilings, visible support beams, and wood flooring. Many of those features are desired in a traditional home, but not always available or require a large investment to make possible.
There is a drawback to consider with a loft though. It can sometimes be challenging to get approval for some changes that need to be made. You will have to work with the building association to make major changes, and you might have to modify some of your plans if they fall outside of the agreed-upon parameters for renovations.
What Should You Remember When Buying a Loft?
Before shopping for a loft, take the time to find a real estate agent at an agency like The RandelleGreen Group who is familiar with the available options in your city. An experienced agent can guide you through the process and help you avoid pitfalls that can sour you on the idea of buying a loft.
It is important that you ask the right questions when you are shopping for a loft. For instance, you need to know who is responsible for maintaining the common areas of the building and if the other units in the building are being occupied by the owners. If the owners are renting out their units, that could have a negative impact on the value of your loft.
Your real estate agent can help determine the other questions that need to be asked in your search and help you narrow your focus to lofts that meet your budget and needs.