Looking for an Industrial Loft for Sale in Toronto: Here’s What you Should Know!
Friday Feb 22nd, 2019
If you are someone who doesn’t want to live in a Toronto stereotype of a glass and steel, contemporary and chic high-rise, don’t worry. Market doesn’t fall short of options to cater to every taste.
From up-and-coming midrises and intimate boutiques to historical residences that take you down the memory lane, hunting for a place that threatens to go beyond the run-of-the-mill design stratosphere, may be a tough nut to crack, but its quite possible.
When we talk about the “anti-cookie-cutter” condos, the first thing that comes to mind is loft apartments.
Between their unique industrial finishes, lack of interior walls, spacious open-concept floor plans and lofty ceilings, it’s not hard to see why industrial lofts appeal to a lot of buyers. However, you should know that not all Toronto lofts for sale pack the same punch, and there is a long checklist that you need to refer to when looking for an authentic industrial loft. Here are a few things to know:
1. Not all lofts are "Industrial" or "Genuine"
Most buyers looking for a genuine industrial loft are often disappointed when they are shown apartments that may be called lofts, but they are nothing more than your everyday condos. To have your search bogged down so unceremoniously is quite a bummer.
If you are a serious loft buyer, know that there are two kinds of lofts, soft and hard lofts. Hard lofts were buildings that once functioned as industrial or manufacturing warehouses, refurbished by a real estate developer into private residences. When you think of an industrial loft, the images of hard lofts pop up; historical dilapidated buildings with lofty ceilings, huge factory-style windows, and exposed brick walls.
Soft lofts on the other hand are new condo buildings that mimic the loft style with all their charms. While they may pass off as lofts to oblivious buyers, with their tall ceilings and exposed vents and pipes, they can’t even come close to the industrial glamor of an actual hard loft.
However, not all soft lofts are bad replicas, and Toronto is brimming with stunning buildings that can grab the eye of a hard loft buyer as well. You need to partner with a realtor worth their salt to chafe out the cream from soft lofts that are only lofts as far as the name goes. Furthermore, a lot of loft buildings in Toronto offer both soft and hard lofts units, depending on your taste.
When buying a loft, you need to determine the score you set by hard lofts, since they are heavier on the pocket and hard to come by as compared to their contenders. So, if you only need a loft for its appearance, go for soft lofts.
2. You Don’t get to Choose Between Many neighborhoods
While traditional condo apartments are proliferating across Toronto, lofts are not so ubiquitous. Keep in mind that these buildings were refurbished by developers, and since they once stood as manufacturing spaces, their locations were predetermined.
So, if you are seriously thinking of buying a loft, you should narrow down your search to those neighborhoods that once housed industrial warehouses in the past. In Toronto, it translates into the city’s West and East ends, as well as the downtown core. Sadly, most of these buildings don’t have proximity to subways, which means you will have to settle for a bus or a streetcar.
3. Open-concept Means a lack of storage
Lack of interior walls adds to the appeal of these units. Without settling for a strict floor plan that fixes the area of bedrooms, dining and living rooms, you can shape a loft as you please. However, a lack of interior walls can have its drawbacks as well. For instance, since your bedroom will be visible to all those who visit your house, say goodbye to privacy. One remedy is to hide away a part of your room behind a massive bookshelf. Moreover, the blank canvas of a loft is as daunting as its appealing. Which means furniture shipping won’t be a piece of cake since you will need to put in a lot of effort to determine the placement of shelves and sofas. Storage is also a rare commodity in a loft since hard loft projects don’t even include storage units, shelves, or even private closets in the bedroom.
4. Condo fees Still Apply
While we may have separated them from traditional condo buildings, hard lofts still fall under the property type condos. Which means that you are not exempted from condo fees. Famous Toronto Lofts for sale feature a monthly maintenance fee, which comes out of your pocket. Not to mention, massive factory style windows and tall ceilings in a hard loft may have their charms, they cause higher than usual electricity and heating bills as compared to a traditional condo apartment.
5. You might have to compromise on views
Hard loft buildings don’t go higher than 15 storeys, so you may want to reconsider your decision if the picturesque views of the downtown waterfront or the Toronto skyline are on your list.
6. Lofts can Weigh Heavier on the Pocket
Authentic Loft conversions are hard to come by in Toronto, and being such a hot commodity, they fall on the pricier end of the spectrum as compared to run-of-the-mill condos. When closing a deal on a Toronto loft for sale, be prepared for bully offers and bidding wars.