Pros and Cons of Buying a Fully Furnished Loft

1 Jul 2017 · by Virtual Results PubSub

Pros and Cons of Buying a Fully Furnished Home

Are you a first time Loftbuyer nervous about adding the cost of furniture to your big move? Or perhaps you’re thinking of buying a vacation Loft, but don’t want the added expense of furnishing it? Maybe you’re a busy professional who needs to streamline the purchase process so that you can jump right into your new job? Whatever the case may be, buying a Loft that comes fully furnished may be just what you need.

If you’re thinking about buying a fully furnished Loft, here are the pros and cons you should take into consideration when making your decision.

Pros of buying a fully furnished Loft

Buying a furnished Loft:

  • Can save you money, sometimes thousands of dollars, instead of buying brand new furniture.
  • Is a great choice for first time buyers who may not have all they furniture they will need for the Loft.
  • Is perfect for those buying a second Loft or vacation Loft and want a property that is move-in ready at closing.
  • Is ideal for those who don’t like shopping for furniture.
  • Can be smart for those who are short on time, such as people who have demanding jobs or families with young children.
  • Can make moving in easier and faster, which is perfect for those who need to relocate quickly.
  • Can save you the headache of packing up and moving all your belongings to a new location. Just pack up some suitcases with your clothes and personal belongings, and move right in!

Cons of buying a fully furnished Loft

Purchasing a Loft that comes with furniture:

  • Means there are more details to attend to in the closing process. You will need to complete an exhaustive list of every item included in the deal, which will be part of the contract.
  • Means you may need to get a separate loan for the furnishings.
  • Might not be a great choice if you have very specific taste in furniture. You’ll want to make sure that the furnishings that are included in the Loft are to your liking.
  • Can be a gamble, as you don’t know the history of the furniture. You will want to take the time to inspect every piece that comes with the Loft. Turn on all the lamps, look at all the couch cushions and make sure all the appliances are in good working order.
  • May mean that you overpay for the furnishings you’re getting, if the seller is particularly emotionally attached to them.
  • Could kill the deal if the buyer and seller cannot come to an agreement on what furnishings are included and what the selling price of those furnishings should be.
  • Means that you will need to put down a larger down payment, since the total cost of the Loft will include the price of the furniture.

Ultimately, the decision to buy a Loft that is fully furnished is a personal one. You will want to determine if the amount of money you will pay for the furnishings will actually save you time and money when you move in. Take time to fully assess what you are agreeing to so you know whether you are getting a good deal. If the deal looks good and you like the idea of owning a turnkey Loft, it could be the perfect solution for you.

Selling Your Loft

21 Apr 2017 · by Virtual Results PubSub

Selling Your Condo

Is it time to sell your loft? While you may think that selling a loft is the same as selling a house, there are distinct differences that are important to know before putting yours on the market. Check out these pointers to ensure you sell yours quickly and for a profit.

Consider the timing

Generally speaking, most real estate experts agree that spring is the best time to put a home on the market. While that may be true for a single-family residence, it isn’t always the case for a loft. If your loft is in an area that is a popular tourist destination, you’ll want to take that into consideration. Are you near the beach or a ski resort? You’ll likely have the most luck selling your loft right before the tourist season begins, when many potential buyers may be looking for a vacation home.

Know the comps

Pricing a single family home can be challenging, especially if there are no suitable comps nearby. This is one area where loft sellers have a leg up, as recent sales data from units identical to yours can be used to determine your selling price. However, you should keep in mind subtle differences that can affect your listing, such as where your unit is located in the building and what amenities you may or may not have compared to other units.

Make the most of staging

lofts tend to be smaller than most single-family homes. They are also very similar to all the other units around it, making it difficult for yours to stand out. Staging becomes very important when selling your loft. Do a thorough sweep to clean, repair and de-clutter. You don’t want excess furniture hanging around making the space feel small. Use staging to highlight any qualities that make your unit special, such as a great view or upgraded, custom cabinets.

Market it right

loft living appeals to a certain kind of buyer, so it’s essential to market your loft in a way that will emphasize what potential buyers are looking for. lofts offer ease of living and access to community amenities that are typically not found in single-family homes. They often appeal to those who travel, who don’t want to spend time maintaining a yard or who would like the advantage of having a pool without the tedious maintenance. Know your audience and speak directly to them.

Work with a qualified real estate agent

Finally, work with a qualified real estate agent who has experience marketing and selling lofts in your area. When interviewing agents, be sure to ask how many lofts they typically sell in a year and how they intend to market your loft to potential buyers. Having an experienced agent in your corner will ensure that your loft shows well so that you have the best chance of selling it quickly and for a great price.

Garden Ideas for Los Angeles Lofts

10 Apr 2017 · by ChrisSampaio

UntitledDo you ever dream of picking fresh fruit, veggies, or herbs from your home? Or maybe even having some beautiful flowery scenery right outside your door? Those who live in Los Angeles lofts may not consider the possibility of having a garden due to lack of space and earth. Yet, having a garden is possible. Plus, Los Angeles is a great place to grow a variation of plants, because let’s be honest, the weather is almost always perfect.

Here’s how to do it:

Choose your location

First, you need to choose your garden space. Pick a spot on your balcony that will get enough sunlight, but not too much. Usually the best growing areas face east or west, because the morning and evening sun will be the most prominent in those areas.

However, if you are limited on space and only have one small location for your garden, then almost any area should work.

Choose your garden type

The fun thing about gardening is that you have so many options and none of them are wrong. For example, you can create a box garden, hanging baskets, or just a simple pot garden. DIY tutorials abound, sodon’t be afraid to get creative with it.

Different types of gardens also have different uses. For example, a box garden is typically used more for fruits, vegetables, and starches (such as potatoes).

Box gardens are constructed from lumber and can be made in many different sizes. You have the option of making a 4 ft. x 4 ft. box, a 2 ft. x 6 ft. box, or a 3 ft. x 5 ft. box. Box gardens are also less prone to getting those annoying weeds, which may also be the case for hanging baskets.

If you decide to use a hanging basket, remember they dry out quickly. If you don’t have a watering system for your hanging baskets, then watering daily is a necessity. Unless, of course you plant succulents, which require less frequent watering as they are desert plants. If you plant succulents, then watering about twice a week will suffice. Succulents are not only perfect for hanging baskets, but are great for ground-sitting pots.

Ground pots are perfect for small herbs and flowers. The nice thing about pots is they can fit in smaller places. If your loft’s balcony doesn’toffer much space, then pots are probably a good option for you.

No matter what you choose, your garden can be beautiful, and after a Saturday afternoon of work, you can have the start of some delicious homegrown fruits and vegetables, or the aesthetic of a succulent garden. People will also be surprised and thrilled that you grew them while living in one of the many beautiful downtown LA lofts. So, don’t be afraid to start your garden. Give it a chance and have some fun.


Should You Make a Backup Offer?

7 Apr 2017 · by Virtual Results PubSub

Should You Make a Backup Offer?

You’ve found a Loft you love and you’re ready to make an offer. Unfortunately, you find out from your real estate agent that the Loft is under contract – meaning the seller has already accepted another offer. While it can be frustrating to have someone else beat you to the punch, all is not lost. In cases like these, it might make sense to put in a backup offer.

What is a backup offer?

A backup offer is exactly what it sounds like – a fallback should the deal not close with the first buyer. This allows you to submit a contract to the seller with an addendum that states if the first contract should be cancelled for any reason, that your offer is the very next one that will be accepted. The backup offer needs to be signed by both the buyer and seller and will also often include an earnest money deposit.

Why might the first contract fall through?

In most cases, the first contract probably has contingencies. These are certain requirements that must be met before the sale of the house can proceed. Typical contingencies include:

  • The buyer selling their current Loft.
  • The Loft passing inspection.
  • The Loft appraising for the sale price and not lower.
  • The buyer securing a loan.

Any one of these contingencies is a potential downfall that could kill the sale. The Loft would then fall out of contract and the seller would put the property back on the market.

Is a backup offer legally binding?

Just like the first contract, a backup offer is legally binding as long as both parties have signed it. If the primary contract is canceled for any reason, then the backup offer becomes the purchase agreement. At this point, you will not be able to walk away from the sale without forfeiting your earnest money deposit, unless you specifically allow for that contingency in the contract.

What are the benefits of a backup offer?

In some markets where bidding wars are common, having an accepted backup offer means you will not have to go through a stressful bidding war should the home come back on the market. And if it’s a home you love, having that security can be really important.

Are there any drawbacks to a backup offer?

In some cases, a backup offer can provide extra motivation for the first sale to close quickly. You will also want to consider if you can afford to have your earnest money deposit tied up for any length of time. If you continue to look at other Lofts while you’re waiting to hear about your backup offer, you may also lose your earnest money should you decide to buy another Loft.  Waiting on a backup offer can also indefinitely postpone your moving date, and if the first contract falls through on a contingency such as a leaky roof, that’s an issue that you’re going to inherit.