Tips for Finding the Loft Apartment of Your Dreams
The real estate market is currently in the midst of an unprecedented shift that past generations would have never expected: home ownership rates are dropping, so much so that they’re the lowest they’ve been since before the Great Recession.
Home ownership has long been the pinnacle of the American Dream, and was considered by many as a sign of “having made it” or succeeded. However, the Recession through a wrench in this equation, forcing Americans to look inward to discover and define what being successful really means to them.
During the Recession, thousands of American lost their jobs thanks to nationwide lay offs which in turn resulted in widespread foreclosures. Many homeowners facing foreclosure were forced to downsize their homes or chose to rent lofts and apartments as an alternative. Ironically, they began to like it better.
By renting affordable, new luxury apartments, Americans realized they could get by — and still be happy — with a lot less than they previous thought. As Americans began pursuing more entrepreneurial career paths in lieu of the typical “9 to 5”, the flexible leasing options and convenience of luxury apartment rentals became all the more attractive, as Americans moved to pursue professional opportunity. This especially true of millennials, who flocked to metropolitan areas in order claim their piece of the entrepreneurial pie.
Now, it’s all about lofts for rent. Lofts have replaced the home in the suburbs with the white picket fence. Everyone wants to rent a loft. Why? Living in a loft apartment offers all the the comfort of living in a home without all the hassle or expense of actually owning one. However, finding the right one to fit your needs can be tricky.
When trying to find a loft apartment that meets your needs, it’s important to first create a realistic budget that includes all of your other living expenses. Ideally, you should be able to comfortably afford your security deposit and first and last month’s rent. Once you have a budget created, you can begin your hunt.
Tell your family, friends, co-workers, etc., that you’re looking for a loft apartment. The more people are looking, the sooner you’ll be able to begin scheduling tours. Also, Craigslist can be excellent resource, however, be wary of ads that seem to good to be true (they most likely are).
Also, bringing a family member or friend along for apartment tours can help you in making a final decision. After all, two heads are better than one! Research more like this.