Toronto lofts will provide you with an array of investment opportunities. Knowing what they are will make it easier to select the right real estate.
1. It’s a Sound Investment
Even if you plan on living in lofts for sale Toronto’s real estate market is strong. It’s a better option than renting apartments. You can find a loft that has all of the features that you want and then make an offer. Plus, you can make upgrades because you’re owning instead of renting.
2. Air BnB
Air BnB is a growing trend that allows people to rent your property for a night or two at a time. These are often more affordable options than a hotel room because there aren’t the same level of amenities. It also gives someone a place to live that feels more like home.
3. Bed & Breakfast
If you purchase an entire floor’s worth of lofts, you could create a bed and breakfast. It’s a chance to get into the hospitality industry with a slightly new concept. It’s then up to you to create a new and exciting experience for your guests so that they will return again and again.
4. University Housing
You could easily invest in soft lofts and then choose to turn them into university housing options. You could rent the entire loft to a student or break it into multiple rooms and offer it to several students. With the University of Toronto and York University nearby, it provides you with plenty of students who are in need of housing throughout the school year. More online resources are available at Toronto Condo Team.
5. Corporate Housing
You can furnish a loft and offer it up for corporate housing. Many businesses look for corporate housing to rent for weeks or months at a time for employees who travel to Toronto. You can offer your place as an option to traveling business people. It saves the company money over a hotel, and it keeps your place booked more regularly through the year.
6. Hard Lofts are Trending
More and more warehouses and factories are being converted into housing. These are known as hard lofts because they feature some of the hard plumbing and exposed beams that help to give an industrial vibe throughout the interior. Investing in these lofts will allow you to make some updates and get them back onto the market.
If you are searching for an investment, it’s worth exploring what various lofts in Toronto have to offer. From there, you can decide how you want to make money with your real estate.