While lofts are generally thought of as a sub-section of condos, they are quickly becoming a hot topic in today's condo community. Titles like Choclate Factory Lofts and Candy Factory Lofts indicate that these are residential conversions of industrial buildings. And one of the biggest selling features is that it provides urban living, like condos, in distinctive living environments.
"Lofts have a certain sex appeal, and garner a lot attention in the real estate market even though it accounts for a just fraction of overall condo sales," says Edwin Brdlik, a broker with Toronto Lofts Realty Corporation who transitioned to loft sales in 2002 after more than twenty years in Toronto’s real estate market.
This attraction can be attributed to loft characteristics like exposed brickwork, wood or cement support beams, expansive widows and high-ceilings embrace the loft look. Many units have half-walls, second floors or split-levels to separate rooms, yet the defining feature that all lofts share is its openness in space regardless of square footage. Multiple rooms (living, dining and den) typically co-exist in the same space, with walls used sparingly for bathrooms, closets and laundry facilities.
There are two types of lofts:
Hard Lofts
Traditional lofts are called hard lofts, characterized by cement and hardwood flooring, exposed brickwork and wooden fixtures throughout. Hard lofts are harder to secure because there are only so many industrial buildings available in each city to convert and it's costly to restore the buildings.
Soft Lofts
Soft lofts capitalize on the loft idea, but have the benefit of being new construction. Soft lofts can be brand new buildings, or new units added to a hard loft.
Regardless of what type of loft you choose, lofts are an alternative to the notion that many traditional condos or townhouses look too similar, or are “cookie-cutter condos.” Loft spaces tend to feel larger because there aren't a lot of hallways or foyers taking up square footage and tall ceilings add depth to these spaces. There are drawbacks to investing in lofty living that should be considered.
Industrial spaces don't easily allow for amenities like gyms, saunas and common rooms as seen in most condos. Parking spaces may be scarce, concierge services may be limited and shared spaces like hallways and corridors may not be properly soundproofed. Not all neighbourhoods where lofts are being converted are gentrified (a process where low-cost neighbourhoods see a surge in upscale business that transforms it into a more desirable location). Also, lofts are sometimes lacking in storage and if lockers aren’t readily available for purchase, a lot of lofters may be stuck housing snowboards and golf bags in their bedroom closets.
Along with these unique qualities, lofts come equipped with their own set of designing rules:
Loft Dos
• Do add art: Lofts are a perfect exhibition ground to display artwork, paintings and photographs. Don’t hesitate to create a gallery to showcase your pieces!
• Do limit collectibles: There isn’t a lot of storage space to house multiple collections of pottery or plates. Buy one good trinket to display, instead of housing numerous sets.
• Do find a showpiece: Lofts can help to show off unique pieces—add sculptures or vases to help display them.
Loft Don’ts
•Don't add bulk: Big, bulky furniture, like over-sized armchairs and high couches, detract from the high-ceilings and the openness of the loft. Stick to streamlined furniture, with simple lines that are lower to the ground.
• Don't let the clutter build: When everything is exposed in one open room, one piece of junk mail is much more noticeable. Maintain daily clutter and regularly edit office and living room areas to keep it tidy.
• Don't keep things closed up: Lofts are meant to be open and bright, not dark and gloomy. Let in light, open curtains or drapes and look for glass tables to maximize visibility.