Are Loft Apartments Worth The Cost? – 10 Things to Consider
There are several things to consider while picking a place to live. You need to consider the sort of apartment or house you wish to buy or rent, considering the cost, size, and locations. While there are various possibilities, a loft-style apartment is among the most popular. Loft apartments first emerged when big, commercial buildings were turned into living spaces. Instead of rebuilding the whole interior space and adding space, the open space was left as it is. Exposed bricks are often seen in lofts, along with high, lofty ceilings. Companies and industries used the vertical space seen in lofts for storage. Ladders or stairs would lead to the upper levels where they could vertically store all their inventory.
Real estate companies decided to merge that idea into residential spaces and gave birth to the idea of loft apartments. Many people prefer the wide and open area that comes with loft apartments. After seeing a rise in popularity with apartments, real estate companies started to invest more and more in such living arrangements.
Loft Apartments vs. Studio Apartments
The concept of loft and studio apartments are somewhat similar. Both are open-floor spaces where everything is in one place. There are no separate rooms for kitchen, living room, dining room and all of that. They are an all-in-one deal. A lot of people prefer open living spaces compared to regular apartments where the rooms are separate. Lofts and studios are best for people who live on their own. If you have a roommate, it will be difficult to share space when you get a loft or studio apartment.
The biggest difference between studio and loft apartments is the sheer size. Studio apartments are rather compact. A studio apartment spans somewhere around 500 to 600 sq. feet. Studio apartments are most popular among bachelors. As for loft apartments, there is no particular limitation or standard set in place when it comes to size. Lofts can range from over 1,000 sq. feet and be as large as one wants. Also, lofts can have multiple floors.
Studio apartments don’t cost much since the area is so little. They are considered to be very affordable. If you can compromise with stuff like cooking in a kitchen that also comes with a bathtub, you can get a pretty good deal. Loft apartments, on the other hand, can be very expensive. It all depends on the size of the apartment, floor plans, building, area, and so on, as you may still find good deals in your area.
10 Amazing Facts About Loft Apartments!
Lofts are popular because of the size and the open space you get. Lofts offer probably the most freedom when it comes to decorating an apartment. Bachelors who wish to live extravagantly seek out loft apartments since they can be quite expensive with nicer city views, but you may also find deals due to the fact that these are reclaimed spaces. You can also decorate lofts aligned to the more industrial or minimal feel. Couples and families live in lofts as well, but they are in the minority.
A loft apartment is a perfect home for you to unleash your creative side. Since it is an open-floor design, you can decorate the place to your heart’s content. When you have a single room to decorate, it can feel quite limiting to add a personal touch to every corner. But with a loft, you can design it however you want. A loft apartment is like a blank canvas. Each piece of interior is like a stroke of the paintbrush. Once you are done with picking all of them, you have a finished picture.
Even if there are multiple floors, loft apartments come with ceilings that are higher than you would find in usual apartments. Even in a two-story loft, the ground floor would have a sky-high ceiling, making the place seem much bigger. It certainly allows for more light and air. For people who are claustrophobic, a loft apartment will be a great place to live.
Thanks to the sky-high ceilings, you can install a skylight of any design. High ceilings are also great for hanging chandeliers. You can add a royal touch to your home with such architecture.
Design Your Own Privacy
Some people consider this to be a drawback for loft apartments. Since loft apartments are open-spaced, the concept of separate rooms or space does not apply here. So you get no privacy if you decide to live with other people. But that does not mean it is impossible to share a loft apartment. You can very well design your own private space.
In fact, you can turn the situation in your favor. With a spacious place such as a loft, you can make your own sections. You get to decide which parts will be more secluded to read in peace and which ones will be an open space for hosting a movie night with friends.
As has been mentioned already, lofts have high ceilings. Because of such high ceilings, the vertical space can sometimes seem like too much. High ceilings can make the floor space seem compact. It is better to put the vertical space to some use. With high and barren walls, the loft can seem too cluttered in regard to floor space.
Loft apartments are good for adding vertical furniture. If you love books or have a hobby of collecting CDs, plaques, and more, you can install shelves. Adorn the walls with high shelves and decorate them with books, CDs, plants, maps, and anything you can think of. It will add an aesthetic vibe to your place. And let’s admit it, shelves and books are definitely a classy look.
Since most loft apartments were previously commercial storage spaces, some elements are often evident after they are turned into residential spaces. Exposed bricks, large factory windows, large pipes visible in the ceilings, wooden beams, and more can be seen in loft apartments. Some modernized lofts are renovated to remove all these things. But most people love lofts because of these distinct features. These features are becoming so popular that some real estate companies are implementing loft-style looks in their apartments.
Utilities Cost More
Since lofts are huge open spaces, you need to get creative with the utilities. You need proper air conditioning and lighting for such a large space. That will lead to more utility bills at the end of the month. Unless you divide the space into different sections and implement focused air conditioning and lighting, get ready to pay large sums for utilities.
Lofts can be Noisy
Most of the other old industrial buildings that have been converted into lofts contain wooden floors that also serve as ceilings for the apartments below. Because there is generally no drywall or insulation across floors to form a barrier, any noise made by your neighbor above or below will be easily heard. If you want to avoid that to some extent, consider putting drywall between the beams. There will be better noise insulation, and you won’t have to listen every time your upper-floor neighbor decides to run across the room.
Lack of Storage Space
It might seem funny, but a vast space as a loft apartment lacks the necessary storage space. Yes, there is a lot of open areas to work with. But unless you plan to stack your clothes and books on the floor, you need to build your own storage space. Whether it’s buying lots of new furniture or building wall-closets, you need to utilize the open space in the loft to store all your stuff in an organized manner.
Most apartment complex buildings come with amenities that make them convenient living spaces. Many buildings have a gym, spa, rooftop gardens, well-decorated lobby, and more. Real estate companies fight tooth and nail with each other to offer the most amenities to attract more residents. But since loft apartments are in commercial buildings, the chances of getting any of these amenities are quite slim. If you do not care about having a gym in the building, then you can undoubtedly go for a loft apartment.
Costly Living Space
As we have mentioned already, the utilities alone will be much higher in loft apartments since you have to light up the entire space while having dinner. In regular apartments, you have the option to turn off your bedroom lights while you are having a meal in the kitchen. But lofts do not offer you that choice. Monthly maintenance will cost a lot, Not to mention the rent itself.
No matter how fun and different loft apartments might seem, they are not for everyone. There are some people who are not fond of living in open spaces; it can make them feel more exposed. In that case, a loft apartment would be a poor choice for them. So, do not jump at the first loft apartment you come across. Before asking to sign a lease, make sure you think hard about all the pros and cons of living in loft apartments. They are not cheap to rent or buy, so do not rush into anything.