Loft vs. Houses
For some, trying to make the comparison between mile high living in a loft or in a residential single family home is likened to apples and oranges. The locations will be completely different, the architecture, the lifestyle associated with each purchase and most of all in today’s environment, the price. In order to find the best lofts in Colorado so you can make the decision for yourself on the best location type for you, you need to find an experienced agent that knows a lot not only about condo living but about the buildings you are interested in.
What to Consider before Buying a Loft
The first thing to consider is what kind of lifestyle you are living and where you plan on being five years from now. If you are considering adding important family members such as a spouse, children or animals, then a loft may not be the right place. Although, there are family styled lofts available, they do tend to be more expensive. On the other hand if you are used to the city living where stairs, elevators or work require you to be close many public locations then a loft may be just right.
One big consideration for a loft versus a residential home is that you don’t have land when you purchase a lot. In some cases when you purchase a home the price you pay has more to do with the location and the lot size than the actual price value of the home and what it would cost to rebuild it. When you buy a $200,000 property for instance, you wouldn’t necessarily take out a home owner’s policy to insure the full value as a greater percentage of the price is for the land itself.
Now is the Time to Buy a Loft
Then there comes the question about retaining equity in a loft. It is actually a good time to consider buying a loft because the market prices have hit an all time low, considering the city that is, on what the asking price of condo’s were a few years ago. The real estate bubble burst of 2008 meant that the condo and loft market were affected as well, which means now is a great time to invest before the slow return of the market prices prior to 2008.
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The Best Lofts in Colorado 