Yes, I want to start living the loft lifestyle...
So you’ve been bitten by the loft bug -- concrete, high ceilings, exposed brick and timber make you weak in the knees. Don’t worry us too and there is a cure, but there’s some things you should know before diving into the wonderful world of loft living.
Buying a loft is an exciting process but lofts are a unique beast in the real estate game, and thus it takes some extra knowledge to navigate their quirks (and benefits), that’s where a loft expert comes in. Here’s our list of top things a loft expert can help you with:
Unlike a regular condo, lofts are often subject to GST. If a loft is considered to be commercial property or the original owner has deferred their GST, then GST on the current market value may apply.
The zonings of lofts are complex, however if you are self employed and/or have a home business then there may be some great advantages to loft living.
Unauthorized Square Footage
Most mezzanines are not considered authorized square footage. Unauthorized is technically a material latent defect as it’s not permitted by the city and this can run some serious risk to a buyer. Understanding the FSR (Floor Space Ratio) and intricacies of each loft building is essential.
Lofts attract creative minds. With the vast openness and empty canvas feel, many people renovate. Often these renovations can be without permits or DIYs.
Finding The Right Loft For You
There’s a wide variety of loft styles out there, in every different neighbourhood. From how they’re zoned, to what the building is like, from brick walls, to concrete industrial, and polished soft lofts. A loft expert can help you navigate the market and find the perfect loft for you.
A little about VCL
The Vancity Lofts team is tapped into the loft market. We study it day in and day out. We know the lofts on the market, we’ve sold in every loft building in Vancouver, and we are well aware of the necessary precautions when buying lofts and live/work spaces. Lofts are a unique product and you want to ensure you have a loft expert representing you. With over 17,000 unique visitors a month to vancitylofts.com; we must be doing something right!
Ultimately you’re a creative thinker and you need a realtor that gets you, not a cheesy one in suit. If you’re considering loft living, give us a call at 604.765.7722 or fill out the form below, we’d be happy to help you find your dream loft.