Key Difference – Loft vs Condo
Loft and condo are two popular housing types among the urban population. Condo, or condominiums, are residential units that are typically built in new high-rise buildings. Lofts, on the other hand, are former industrial or commercial buildings that have been converted into housing units. The main difference between lofts and condos is that lofts often feature an open floor plan, while condos have interior walls separating different rooms.
What is a Loft?
Lofts were initially affordable spaces for struggling artists to live and work, using them as both a residence and workplace. These spaces are usually large, open areas above industrial or commercial buildings. The concept of lofts originated in Paris and has evolved over the past decade, becoming popular among urban dwellers. Today, the term “loft” refers to an apartment-like unit with an open floor plan, large windows, and exposed fixtures. It mostly applies to an upper story. Loft apartments are built in former industrial buildings, and in real estate, there are two types of lofts: hard lofts and soft lofts. Hard lofts are former industrial buildings converted into residential units, while soft lofts are units built in the loft style but in a newly constructed building.
What is a Condo?
A condo, or condominium, is a housing unit owned individually. It can be part of a large high-rise, a cul-de-sac of cottages, or anything in between. Condos can be very similar to apartments in appearance and are also available as detached single-family housing units. Condos come in various styles and sizes. In a condominium complex, single housing units are owned by different individuals, but the building’s common areas are owned equally by all unit owners. The owners form a group called the Homeowner Association (HOA) to maintain and manage a building. The association maintains the common areas, and its members must pay a monthly fee.
Key Takeaways
- Lofts have an open floor plan, while condos have separate rooms divided by interior walls.
- Lofts are typically in converted industrial buildings, whereas condos are built in new apartments.
- Condos can be similar to apartments or detached single-family housing units, and are owned individually with common areas owned equally by all unit owners.
