subject: How To Buy A Loft [print this page] Are you wanting to find the perfect place in Vancouver to live? If so, then you may wish to consider a loft apartment. Loft apartments are open and generally less expensive than mansions and condominiums, while still offering convenience through amenities and location.
But if you have never bought a loft before, you may be concerned about how to go about doing it. A real estate agent can answer many of the questions that you are probably experiencing, but just in case, keep the following criteria in mind, and you are bound to locate a property that is right for you and your lifestyle goals:
First of all, consider the layout of a loft. How large is your household? If you have a larger household, then consider the space of the loft carefully. When the space is converted into a residential area, is it enough for everyone?
Usually, loft spaces has a more open layout, as it is converted from an attic or an upper storey of a building. But bear in mind that a more open layout also not afford you the privacy that you want if you have other people living with you. Still, lofts make a great choice if you are new to the city and looking for an affordable place to stay. They are also perfect for singles, who wish to live close to the heart of the city.
Secondly, consider the neighborhood that you will be living in. It's not just the inside that counts. The surroundings also count too. Mostly, lofts are converted into residential apartments in industrial buildings and other commercial buildings. This has implications on the environment that you are going to live in. For example, if the apartment is located in an industrial area, then it may be more suited for male bachelors. If it is situated in a commercial building, then perhaps the apartment is more suited for a family.
Thirdly, consider the price of the loft apartment. The prices differ depending on numerous factors. The key factors are location, renovations and furnishing, and the size of the apartment. Fortunately, since lofts are usually converted from unused space, the prices are usually more affordable compared to other apartments in a similar location and of a similar size.
Finally, locate a real estate agent, who knows where the best deals are in the city itself. You don't want to buy in to a building with structural issues. Since many lofts are located in historic buildings there is always the possibility that you could be purchasing or renting one in a locale that could need significant renovation costs, which may affect the price that you end up paying in the long run.
Also, make sure that once you have decided whether to rent or buy, get your pre qualifications in order. A strong credit rating and debt to income ratio (favoring income) will go a long way in making sure you get the loft that you want.
by: Gen Wright
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