Toronto has two types of lofts, the “Hard Loft” and the “Soft Loft. We go into the differences between these two types of Toronto Lofts here. There are 5 things that you likely don’t know about Toronto lofts. These are important to consider if you want to buy a unique loft in Toronto!
5 Things You Didn’t Know About Toronto Lofts:
1. Amenities
Most hard loft conversions in Toronto have little to no amenities in the building. The reason is that their space is best used and leveraged by the developer to sell the space as living units. Since industrial buildings were never intended to be lived in, the conversions typically have unique shapes that accommodate a living condo unit. Soft lofts have amenities like a gym, party room, and rooftop deck. The reason, aside from the buyer’s expectations, is that the builder can custom design the layouts of the building to use a cost-efficient space that would allow for the desired amenities.
2. Location
Nearly all lofts in Toronto are located downtown. The “hip” factor is higher here. Also, if the loft is a hard loft conversion, it’s most certainly downtown or near this area. The reason being is that the downtown core of Toronto was all there was of “Toronto” over one hundred years ago. The surrounding areas were forests, fields or newly developed suburbs, like Lawrence Park.
3. Types Of Lofts
As we have eluded to above, there are two types of lofts. The highly desirable “Hard Loft” is a converted industrial building, typically made of red bricks and full of historic character and charm. The second type of loft is a “Soft Loft,” a newer construction loft that borrows some of the charms of a hard loft. The builder constructs condo units with higher ceilings, more oversized windows, and exposed concrete, giving a more industrial feel than a standard drywall condo. The soft loft is of higher value than a typical condo.
➤ Every good investment needs a well-planned strategy. Start preparing with:
- Are Condos A Good Investment?
- Condo vs House Investment
- 5 Tips for Selling Your Condo in Toronto
- Frequently Asked Questions when Selling a Condo in Toronto
4. Who Buys Lofts?
Our buyers who love lofts are, more often than not, successful, hard-working professionals who are either single or pre-kids. There are some expectations here, especially for those with children who want to live in the heart of downtown Toronto. The young families are typically very urban and experiential in their desires. They love eating out and travelling. They want to feel the pulse of the city. Those who purchase hard lofts have a unique, very cool vibe.
5. Why Are Lofts So Special?
Toronto lofts are very special because they are rare. Why does that matter? As with anything of great value, it is typically a more rare commodity or item. Why are collector cars worth so much? Well, these are unique, and no one is making them anymore. The same premise goes for a hard loft; no one is making 120-year-old industrial buildings. That’s tongue in cheek, but hopefully, you get the point. There is excellent value in rare and unique condos in Toronto. Owning them is remarkable. It says something about the owner’s lifestyle and interests. It’s a unique point of difference. The difference goes a long way when it comes to resale. The loft stands out against its drywalled, sameness competitors. Take, for instance, the elevator at 90 Sumach; it’s one of a kind in Toronto:
