When it comes to variety in terms of real estate, people have two choices of very broad categories. The first choice is the typical "dream" style of home. That is, the single family, standalone home. White picket fence and size are optional; the key distinguishing characteristic of this type of real estate is that it is one big residence.
For those ready to settle down and have paid for the condo say, in a big city like Toronto, only one of the smaller communities will give them that white picket fence to complete the deal. But urban residents often prefer the advantages of communal type of living, the second of these options. Now don't get us wrong, we aren't talking about longhouses here (although longhouses would technically fit into this category, and now that we are thinking about it...). We are talking about multi-unit developments, buildings which include two or more different pieces of real estate that can be owned and lived in by individuals.
Both of these categories can be further divided into different types of homes within each. We will leave the standalone option aside, as this site is obviously dedicated to the idea of getting that mortgage for a unit in a multi-unit building. If you have yet to get pre-approved for a mortgage loan or still have many questions you need answers to, we here use the services of Morcan Direct Mortgages in Toronto. Visit their website. Marcus and his team can help you with all of your mortgage needs.
This real estate category includes condominiums, apartments, townhouses, and last but not least lofts. We have a lot of information about condos for sale in another section on this site, so this is the section to look to when it comes to Toronto lofts.
By way of introduction, let's have a brief refresher about what a loft is. In the strictest sense, lofts are actually condominiums. That is, they are units of residence that are located in buildings not entirely dedicated to a single residence or purpose.
The difference between lofts and condominiums is the difference in space and space use in the two types of multi-unit buildings. While some condos will usually resemble smaller versions of single unit homes on the inside, lofts look very different. You won't find many properties in with a much smaller population that look like this.
For starters, loft units usually have much higher ceilings than those found in typical condo dwellings. These ceilings are generally supported by large pillars, instead of ceilings. As a result, Toronto lofts have a much more open floor plan than condo units do.
The structure of lofts has a big impact on two major considerations when it comes to lofts. The first is the type of development in which lofts can be found. The idea of the loft first came to developers who were looking to rejuvenate old areas of cities, such as Toronto, where the manufacturing companies had exited. Old factories proved ideal for conversions into loft units, as the floor plans were already in place. There's an excellent example of these here.
The second consideration when it comes to lofts that is determined by their floor plans is who lives there. Obviously, those interested in a wide open floor plan and high ceilings find these units appealing, and many of these people are artisans of some sort. The loft concept appeals to them as they can combine both a studio and a living space in one residence. Purchased separately, this might prove very expensive. This might not be the best choice for a family who likes to each have their own space, with kids in diapers to ones starting their own high school band.
In this section of our site, we are going to look at all things to do with lofts. From new developments to older ones, living choices to benefits, expect to find a wide range of informative articles that tell you all you need to know about loft living, especially in the city of Toronto.