Mixing apartment buildings with residential lots made Toronto a unique city not just in Canada but across the Americas and the world as well. Thanks to its open and welcoming attitude towards immigrants, the city has become a cosmopolitan city and has also become the fastest-growing city in North America.
The city’s policy of curbing suburban sprawl using the aforementioned tactic helped it control urban growth. Now, the city is expanding, and nearby cities of Mississauga and Brampton are integrated within the Greater Toronto Area as suburbs (despite being separate cities).
Vertical homes in the form of apartments, condos, and lofts are a unique aspect of Toronto. Despite healthy listings of Yorkville condos for sale and consequent healthy sales, Lofts are highly sought in the GTA and are preferred by young professionals.
Let us now read more about living in lofts and to see if they suit everyone or not.
What do lofts represent in urban living?
Lofts represent a whole new lifestyle when it comes to urban living for a lot of young professionals today. They offer some of the most widely sought-after features in real estates, like wide spaces, rustic details, and the like.
While a lot of buyers are often attracted to such features of lofts as well as the lifestyle they offer, some buyers are not entirely sure what a loft truly is and how they are different from other kinds of homes.
Since a lot of people are wondering whether living in a loft is right for them or not, here is what they need to understand about lofts:
Lofts – what are they
As determined by real estate experts, a loft is an apartment in a former commercial or industrial building (in most cases a factory). Such units are known for their distinct architectural features, which are as under:
- Sky-high ceilings.
- Open floor plans.
- Large ground to ceiling windows.
- Visible pipes.
- Exposed bricks.
They have become popular in part by artists who find their spaciousness attractive as well as the richness of natural light making these places ideal for both living & working spaces. With time, demand for lofts has grown exponentially among many kinds of buyers.
Hard Loft vs Soft Loft – what are they and what are the differences between each?
With the number of buyers becoming increasingly interested in lofts, real estate developers and construction firms are making new spaces based on the aesthetics lofts offer. What they have combined is what a lot of people see as the best of both the modern construction and industrial setup features.
Lofts have quality features like wooden (or iron) beams, high ceilings and exposed ducts are hallmarks of soft lofts. They are newly designed and constructed living spaces that appeal to urban dwellers. However, some buyers argue that soft lofts lack the sense of past and history, as well as the authentic, feel their hard counterparts have.
On the other hand, hard lofts are old commercial and industrial buildings converted into living spaces. They usually contain original flooring and features made of hardwood, the aged columns, and higher ceilings (higher than those of their soft counterparts).
However, what they do not offer are the new amenities and the private outdoor spaces the soft ones have. They also are less energy-efficient and much noisier too.
Where can Torontonians find the right kind of loft?
In Toronto, lofts are located in select areas and for this reason, the neighborhoods that suit the buyers’ lifestyles will help determine whether lofts are the right kind of homes for them or not.
The first thing that should be understood about lofts is that hard lofts are hard to find. Why? Because there are a limited number of industrial buildings in the Greater Toronto Area and Toronto itself which have been converted into housing.
Liberty Village and Queen West are good places for buyers to begin their search for the hard loft they desire.
Those who are interested in soft lofts have a lot of options. In King West, there are the Electra Lofts and in Liberty Village, there is the Liberty Market Lofts. They are popular buildings that symbolize lofts in real sense. Both these buildings offer convenient amenities and are located in the best dining, recreation, and retail places.
Payment of maintenance fees when living in lofts is a must
That’s right! Paying monthly maintenance costs comes in as a component of living in your loft whether it’s a hard one or a soft one. The good news is that different buildings have different fees. Those who are on a budget can do a comparison of different buildings with relative ease.
Do buyers often want to know which loft has high fees? but the truth is that the answer to their query is not a simple one. Old buildings have strong construction foundations, but they do not come with amenities. Hence, they don’t have high maintenance costs.
But that is not always the case because buildings having hard lofts have been standing around for a long time. They also need to be maintained nicely to withstand and overcome the wear and tear. If not maintained well, then the maintenance costs for them will rise.
In comparison, soft lofts have a lot of features ranging from modern gyms, gardens, and ample parking space to rooftop terraces. They come at a price and are expensive to maintain. Also, concerted efforts are being made in some new buildings to keep the maintenance fees at bay.
Conclusion
When compared to condos, lofts are unique, and they represent the fine, modern cosmopolitan living. They grew in popularity during the late 2000s and early 2010s. With the second half of 2020 underway, more lofts might be constructed especially the soft ones.
Those who wish to buy one can certainly contact their real estate agent as they know what their clients are looking for and help buyers find the one that meets their needs with relative ease.
