Downtown lofts are one of the hottest real estate trends today. Many people love their homes, and loft owners are no different. But it is rare to hear anyone rave about the life their home gives them like loft owners do. For those who embrace it, living in a loft is truly a lifestyle. Following are 10 things you should know about lofts.
There are two types of lofts. True lofts are those that are in industrial buildings that have been repurposed for residential use. Soft lofts are built specifically for residential use and to mimic true lofts.
Some people define lofts differently, but in my mind there are three defining features: brick or concrete exterior walls; ceilings that are 10 feet or higher; and large windows that provide an abundance of natural light.
With the exception of soft-loft buildings, the building in which your loft is located likely will not have amenities like a swimming pool or basketball court. If your building was built specifically for residential use, it is a good bet the developer adding in some appealing amenities.
Historically, loft tenants have used their space for both living and working. That is just as true today as it was 100 years ago. If you have trouble working where you live, you can set off a workspace without tremendous expense.
Industrial lofts, which are those located in repurposed industrial buildings, likely have concrete or wood floors. Many people like floors like that. If you do not, it is no big deal to lay carpet.
Things may not stay the same for long. Many lofts are in urban, industrial areas that undergo what may seem like constant change. For many people, that adds an element of excitement and renewal. But if that vacant lot next to the loft building is one of the reasons you are buying there, you may want to think hard about how long it will stay vacant.
If you have looked at apartments, single-family homes and even some condos, you probably will be amazed by the vast open space you see in lofts.
If there are not any already, you can add bedrooms, closets or bathrooms to your loft. Many people who live in lofts love the open feeling. But few people want everything totally open. Options for closing spaces off include partitions, walls, pressure walls, and curtains.
Lofts are in high demand. If for whatever reason you need to move but do not want to sell, you can probably find someone to rent it.
Lofts can be rather expensive to heat because they are so wide open. Consider what you might pay in utilities before making an offer.
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