Lofts and Condos: Urban Living Offering Simplicity For Folks On The Go

Condos and lofts are partly alike in its features. Condos are living spaces owned by individuals in a building or compound that has shared spaces like hallways, lobbies, amenities, elevators, etc. Each owner is responsible for his own unit while the shared areas are the responsibility of all owners of the building.

A homeowner's association (HOA) with a duly elected president and board supervises the upkeep of all these common areas. A monthly due is set by the HOA paid by each owner of the unit and enforces rules or contract for the building. The condo owners are obliged to follow these rules and pay their dues upon purchase of the units.

A loft on the other hand is unique in its own way from the conventional condo. A typical loft is a remodel of a building originally built for another purpose, such as a warehouse or industrial facility. The remodel breaks the building up into living units, many with their own unique floor plan that best uses the existing layout of the structure. The units take advantage of the distinguishing features of the building, such as high ceilings, open space, bare brick walls, concrete or wood floors and exposed beams and ductwork. This is combined with the use of sleek, modern fixtures for the kitchen, bath and finishing details. The result is a mixture of rough and refined--a distinctly urban feel. Lofts may have amenities such as roof decks and city views and offer a slice of city life unlike any other living space.

A regular condo is usually more like a hotel suite, converted apartment or new construction. They have a complete feel and floor plan that is not different from a regular single family house. They can be found in both urban and suburban areas in a primary residential community. Many condo buildings offer amenities beyond the standard loft fare, such as pools, exercise rooms, lobbies, meeting spaces and even theaters and guest suites. Condos offer the feel of a traditional home without the maintenance.

Interested about getting a condo or a loft? Let Tim and Ira help you with information and showings. Request for a Condo or Loft mortgage quote now!