There are many considerations to make when deciding to buy a home. One of these considerations is where to buy. There are many different types of communities within the Twin Cities. We can work with you to understand what all of these communities have to offer. Another consideration is what type of home to buy. There are many styles of homes in the twin cities. Some of these styles include single-family homes, town homes, condos, and lofts. There are differences between these styles of homes like amount of maintenance needed, association fees and general cost of living. We look forward to sitting down with you and discussing these difference and what will work best for you!
This type of real estate normally includes a house, yard and possibly a garage. There is generally more maintenance involved in this type and the cost of ownership can be higher than others. The benefits include full ownership in the property and no common spaces shared with others.
Town homes come in both attached and detached styles. This is a common interest type of living, which means that all of the property around your home is shared amongst the community. There is usually an HOA (home owners association) fee included in your monthly cost that can cover lawn care and landscaping, snow removal and exterior hazard insurance. Some HOA dues can also include things like water/sewer, garbage and other utility costs. It is important to pay attention to what each property has to offer in HOA fees.
Condos and Lofts
Condos and lofts are another example of common interest living. They can be a very low maintenance option and tend to be in a more urban setting that can be convenient to our two downtown areas of the Twin Cities. Many times, the condo and loft HOA dues can include many more utilities like heating, cooling, natural gas, trash, recycling, water, sewer, electricity, and basic cable. It is important to find out what is included in the HOA fees at any prospective property.
What’s a Condo?
A condo is defined as “An individually owned housing unit within a larger property. The ownership of the unit is based on the legal description of the space the unit actually occupies, in addition to shared interest in the common areas of the property.” The style of a condo can vary but they are generally more finished with more defined rooms and spaces.
What’s a Loft?
A loft is defined as “floorplan consisting of a large unpartitioned space over a factory or warehouse or other commercial space.” There are different types of lofts. The conversion of buildings to lofts – result in what is known as the “hard loft” or “True Loft.” These are buildings with history and character. They have a harder edge of either concrete construction, or “mill” construction of exposed old brick and original wood posts, beams and floors and / or heavy timber construction. They will have the original exposed ductwork, electrical, and plumbing which are features used to complement the décor.
“Soft lofts” are usually found in newly constructed loft buildings. They have the elements of a hard loft but with softer edges. The softer edges may include carpet covering the floors and drywall encasements hiding the ductwork, electrical, and plumbing. Some may have walls that may not reach the ceiling, which are sometimes called three-quarter length. Soft lofts will tend to look more like traditional apartments and are usually more energy efficient than a hard loft.