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Consider Buying Condos And Lofts







There are advantages in owning condos and lofts, such as attractive pricing and low-maintenance. In comparison to detached homes, they provide for more free time as one does not have to do yard work or home improvements. These properties are often found in urban locations offering one easy access to city life.

The terms are often used interchangeably, they are both single units inside of a complex that contains multiple properties. A loft tends to have a more open floor plan and some are so open that the owner can section off rooms as they desire. Lofts can be warehouses that are turned into residential spaces and can be very beautiful. They often have many architectural features such as open duct work, brick walls and factory windows.

Owning a condo or loft has many advantages, the main one being the purchase price. They will cost less than a detached residential home and are a great option for first time buyers or people who are seeking lower loan payments. They are also a great option for whose who wish to down-size after their children have grown and moved away. Many are selling their large homes and opting to buy a smaller residence and are using the proceeds to fund their retirement.

For those who are not adept at fixing things, a condo or a loft is a great solution. There is interior work that is simple to do such as painting and minor remodeling and the exterior is completely taken care of by the HOA which includes the roof, the exterior coverings and shared grounds. By paying the HOA fee, or the home owners association fee, condo and loft owners do not have to worry about large home improvements.

Another thing to consider is those who like to travel a great deal will be perfect candidates for this type of living. People that are in professions such as sales or for those in the airline industry will not have to worry about upkeep on their property. Instead of spending time doing yard work or cleaning gutters one can relax and enjoy activities such as swimming and playing tennis. This style of living allows busy professionals to enjoy their time off.

The down side of of condos and lofts are living in close proximity to other residents. But it allows for a maintenance-free existence in locations that are often in the center of a city and is an attractive option for many. Buyers should look at the options in their area and compare costs as well as HOA fees associated with different properties.

Another advantage of this type of living is the security it offers. It is harder to tell if someone living in a condo or loft is away than in a single-family residential residence. Burglaries and graffiti can be a result of a home that is left empty for weeks or months.

When in the market to purchase a home, the advantages of condos and lofts are excellent for those who are looking for an affordable solution. The price per square foot is often less than that of a detached home and the monthly payment will be less than rent on an apartment of similar quality and size. There is no lease to worry about, it belongs to the owner. There are no cleaning costs associated with pool usage and there are often such amenities as racquetball courts, gas grills and exercise rooms. There are social advantages as well because the residents are all owners and one will have long term neighbors. There is a significant advantage in property tax and it is a good investment.


About Author Adrianna Noton :

Looking for Condos for Sale in Toronto? We can help you find Condo's for Sale in areas ranging from the downtown lakeshore to midtown GTA. Give us a call today. <a href="http://www.citycondosandlofts.com/" target="_blank">http://www.citycondosandlofts.com/</a>


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Article Added on Saturday, August 25, 2012
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