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Atlanta Lofts-What To Know When Buying One

Posted by Martin Archacki on Monday, April 18th, 2016 at 10:09am.

When looking for the right space to call home, why limit yourself to townhouses and apartments? For the city-savvy homebuyer, Atlanta lofts for sale are an aesthetically pleasing alternative that stand out from the crowd.

What Makes A Loft?

Atlanta lofts for saleIn the heart of major urban cities, you will often find older industrial warehouse buildings—called lofts—that have been repurposed into living spaces for city-dwellers on the go. Lofts are typically characterized by their high ceilings, open floor-plans due to a lack of interior walls, exposed ductwork, and large windows facing major urban sprawls, making them a highly-customizable, chic space to live for artists, empty nesters, and those tied to the heart of the city.

But before you put a bid out on a loft, consider the options to determine if it is right for you.

Here's what you should know when buying a loft:

Pros:

Minimal Maintenance

Since lofts face the city streets, you'll almost never have to maintain the outside. The city will take care of walkways, gardening care (where available), and pressure washing the building exterior.

Location, Location, Location

Just step outside for community and convenience. Right in the middle of the city is the place to be if you're a sociable person. You'll be within walking distance to restaurants, bars, nightlife, cinemas, parks, or nearly anywhere you want to be.

The Finer Things

Depending on the HOA, many lofts have a plethora of recreational services: pools, gyms, tennis courts—even valet and concierge services. Lofts tend to be a safe living situation, too, where security is a high priority for occupants.

Cons:

Lofts Can Be Loud

If your loft's windows haven't been converted to accommodate for residency, then all the hustle and bustle of the city could keep you up late at night. The same goes for the inside, where concrete floors and high ceilings carry even the smallest of sounds to new heights. Easy fix: When you inspect the property, make sure the loft is insulated and the windows have been noise-proofed.

A Room With A View

Pros and cons of loft livingCheck the city planning website to see if any new construction projects are going to happen near your new home. Lofts can typically be found in developing urban areas, so there could be the potential for multiple projects going on outside your windows. Also, consider purchasing automated blinds or curtains to fit your needs if you're more on the private side.

Know Your HOA

Lofts are mostly governed by an HOA. Give them a call to see what you can and can't do once you move in. If you plan on owning pets, you'll have to get approval. HOA fees can often be costly, too, so make sure you read the fine print to avoid pitfalls. It's also a good idea to consider buying a separate homeowner's insurance policy to insure your possessions.

Questions to ask your agent:

What Is The Building's History & How Many Occupants Have Lived There Before?

Also keep in mind that the value of a loft may increase or decrease depending on how many rent-to-own lofts surround the space you're looking at.

Who Are Your Neighbors?

If you haven't already, get a feel for the area. Are your neighbors nosey, noisy or new friends in the making? Speak with them about their experiences with the HOA.

What Is The Application Process?

If it's too good to be true, it might just be. Make sure you can afford to live in the loft comfortably and that the occupancy rate has been consistently low.

The city is calling. Are lofts the right choice for you? Find a real-estate agent that knows the market and start exploring today.

 

 

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