What to Look For Before Buying a Loft

A loft is a type of property, typically a single unit within a multi-unit building. It can be in a high-rise building or a smaller walk-up building. Usually, a loft is one of the many units within a property.

Urban living is becoming more fashionable with the rise of lofts typically created from industrial buildings with high ceilings and exposed ductwork. When buying a loft, it’s essential to consider the various features that will make it a great home.

Building Development

Since lofts are typically built within industrial buildings or schools can be completed in phases. However, it’s essential to remember that these construction projects can take a long time to complete. In addition to the inconvenience of construction, it can also affect your quality of life. Ask your real estate agent about the various phases of the project and the development plans for your area.

Location

Some areas surrounding the loft might not be ready for residential development. However, this shouldn’t be a problem if the buildings are renovated and become desirable living spaces. The good news is that this type of project can help boost the local economy by attracting more urban professionals.

Even if the neighborhood revitalization movement is underway, it can take several months or even years before the plans are fully implemented. Also, the building might be farther away from crucial locations, such as schools, major roads, and public transportation stops.

HOA

Like condominiums, lofts are often associated with a homeowners association. This type of organization has strict rules and regulations and can be costly to maintain. Before you start the process of buying a loft, it’s crucial to understand the association’s rules and regulations thoroughly.

Energy

Many lofts are not energy efficient. Large windows, poorly designed concrete floors and brick walls can allow in too much heat or cold. Before you start the process of buying a loft, it’s important to understand the association’s rules and regulations thoroughly.

Ask your agent about the energy-saving features implemented in the building. These include radiant heated floors, double-paned windows, and tight seals around doors and windows.

Takeaway

Even though the cost of buying a loft will likely increase in 2022, it’s still important to consider the various factors that will affect your decision. Buying a loft can be as competitive as finding a single-family home in certain areas. You should also be flexible about your requirements and look for multiple properties close to your desired location.

ABOUT JOHN GAVIN LAGUNA BEACH

To anyone who has met John Gavin, it is no surprise that he is a master of sales. This was one of the reasons he was drawn into the world of real estate. Another reason was to see the looks on people’s faces once he’d helped them fulfill their dream of finding the perfect home. John has always been a supporter of causes, especially those near and dear to his heart. He discovered Big Brothers and Big Sisters of America while in college, where he was earning his undergraduate degree in Education from the University of New Hampshire.

Even though his life has taken him around the globe and he is extremely successful, he always takes time to give back, especially with youth groups. A former lacrosse athlete himself, he competed in the quarter-finals of the National Men’s Lacrosse Tournament. John takes pride in coaching the minor league lacrosse teams in his area and passing on his knowledge. John is a generous giver to organizations such as Goodwill, the Red Cross, and World Vision, in addition to his community participation.

John is an expert in the computer software and hardware sales industry. With nearly two decades of experience, he has amassed the type of knowledge that comes from being on the cusp of technology and knowing the importance of consistently keeping up to date on the latest trends.