The Lofts
Can you please comment on living in the lofts? What do you like and don’t like about it?
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lofts
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When lofts were opened, we went to look at them for in-law. Nothing special, it’s an apartment. The drawback was only 1 year lease, and no sublet. A 3 bedroom house was about half than renting a 1 bed loft. Looks like that has changed if poster only stayed 4 months
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Long Wait List
When I inquired, back in 2021, about vacancies -- was told there was a long, long wait list. Years as I recall. That alone may inhibit your ability to live there.
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If you can afford to pay cash for a villa, you can get the same square footage and the same amenities as The Lofts for a third of the monthly cost. I don't see any advantage to living at The Lofts.
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No lawn mowing, no weeding, no external pesticide costs, you don't have to pay for the roof replacement, or property insurance. Rental insurance is dirt-cheap. There are LOTS of advantages to apartment living, but not everyone cares about those advantages. For people who do care about them, the Lofts are a great option. |
Wasn't one of the reasons for them was to provide rental cash flow? They will probably build more apartments if demand remains high.
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1. You can invest the money you would have used to pay cash for a home. The interest earned can be used to help pay the rent. This will reduce out of pocket rent expense. 2. No additional costs. Property taxes, insurance, bond, amenity fees, lawn service etc. cost an additional $1000+ a month for homeowners. 3. Easy living in an apartment. No time spent on mowing the lawn, gardening, bug control, painting/spraywashing, the house etc. etc. 4. When an appliance, roof, carpet, flooring, etc needs replaced, a homeowner must pay for it. A renter does not have this expense. The question is: Will you earn more money investing in a home or investing the cash? |
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I did say a person has to determine if investing in a home is better than the income you will make by investing the cash. That is the choice everyone must make. For some it will be investing the cash, for others a home is wiser. It depends on your circumstance. Renting is not always a bad choice. |
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My scenario: Pay $450,000 cash for a home plus closing costs. You still have $1000 a month in fees. (property taxes, insurance, amenity, lawn, maintenance) Or, invest the $450,000 and rent. The money you earn on the investment can be used to reduce the rent. |
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