You've decided to move to Montreal after selling your Windsor real estate. You've even worked out that you want to live downtown so as to be closer to work. But have you decided what sort of place you will be looking for? If you didn't know there was a difference, this article is for you. In it we'll outline the major differences between condos and lofts, which are two of the most popular living options for people in urbanized areas like downtown Montreal. Hopefully afterward you'll be able to make a decision.

Rent or Buy?

The biggest difference between a condo and any other type of multi-unit dwelling is that you purchase a condo whereas with an apartment or loft you usually rent for a specified term. A Toronto loft can be classified as either an apartment or a condo depending on whether the tenant owns the property or rents it from another party. The actual layout of the unit makes no difference to the definition. It is purely a legal term. Therefore your place in Montreal can be both a loft AND a condo if you wish.

Style

So how do you tell a loft apart from a regular condo or apartment? Easy. Lofts are large, open spaces with high ceilings that feature exposed roof beams or rafters. Where normal North York condos and apartments have interior walls separating the kitchen from the living room and the bedroom, lofts will have one large multipurpose space, usually with the sleeping area being located on a higher half floor underneath the rafters. Due to these special requirements, lofts are usually only found on the highest floor of a building.

Location

Generally, you only find condos and lofts in the densest most urban parts of a city. However, while a dense neighborhood is a guarantee you will find condos like those at 20 Gothic it is not a guarantee that you will find lofts. Lofts are created by converting industrial or warehouse space into residential units by inserting a bare minimum of internal walls. As a result, lofts are more commonly found in former industrial areas that have seen gentrification in the past ten or twenty years, but have not become popular enough for developers to raze the old buildings and put up high rises.

Usage

Many people prefer the Bohemian atmosphere of living in an open loft to the more confined luxury of a high rise unit like the ones at Toronto Cityplace Condos. Lofts are popular as working and living spaces for artists as they usually have more natural light than other types of apartment. Other people who prefer lofts include those who appreciate the original fixtures like brick walls or thick wooden rafters.