Image source: www.brickell-real-estate.us
Imagine being able to look out the window of your spacious loft to see the hustle and bustle of the Big Apple. If you’ve always dreamed of living in the heart of the city, a loft might suit you perfectly. You can often find a good-size live/work loft for the same price as apartments in many cities.

• Investigate what kind of loft you can get for your budget. Lofts are generally wide open spaces, with high ceilings. Some need a fair amount of work to be livable, including, perhaps, the addition of walls or partitions, and interior finish.
• Investigate a cooperative (which is what most apartments and lofts are in New York). You
won’t actually own the loft, but will be a shareholder in a corporation that owns the entire building, which entitles you to a long-term proprietary lease.
• Check out lofts that are condominiums. You will actually own the property, but pay a monthly home owners association fee. The advantage is that you buy the unit up front with a monthly fee that is almost always lower than for a comparable co-op since you’re not paying a pro rata share of the building’s mortgage.
• Compare prices. The bigger the loft, the more you’ll pay, as with a more desirable neighborhood.