Got any questions?
So, You Want to Buy a Loft—Now What?
Buying a loft—especially in Downtown Long Beach (DTLB)—is an exciting step, but it comes with some unique considerations compared to traditional condos or single-family homes. Whether you're looking for a raw industrial loft with exposed brick and concrete or a modern live-work space with luxury finishes, here’s a step-by-step guide to help you navigate the process.
Step 1: Define Your Loft Lifestyle
Lofts come in different styles, so it’s important to clarify what kind of loft living suits you best:
Authentic Industrial Lofts – Open floor plans, exposed brick, high ceilings, and historic charm.
Modern Luxury Lofts – Sleek finishes, high-end kitchens, and resort-style amenities.
Live-Work Lofts – Zoned for both residential and business use, ideal for creatives and entrepreneurs.
Example Buildings:
- Industrial Loft: Walker Building Lofts, Kress Lofts, Insurance Exchange Lofts
- Modern Loft: Temple Lofts, Newberry Lofts
- Live-Work Loft: Courtyard Lofts
Step 2: Get Pre-Approved for a Loft-Friendly Mortgage
Many Long Beach lofts are in adaptive reuse buildings, which means traditional lenders may not finance them due to their unique zoning, HOA restrictions, or historic tax incentives.
Work with a lender experienced in loft financing (I can connect you with the right people!).
Explore non-warrantable loan options for live-work spaces.
Consider FHA or VA loans if the building is approved.
Step 3: Know the Unique Costs of Loft Ownership
Lofts often have higher HOA fees due to their historic nature, maintenance of industrial-style features, and shared amenities. Ask about:
HOA Fees & What They Cover – Some include security, parking, and rooftop access.
Mills Act Tax Savings – Some historic loft buildings offer significant property tax reductions.
Live-Work Lofts & Commercial Zoning – Some buildings have higher utility costs or special insurance requirements.
Step 4: Tour Lofts & Explore the Neighborhood
Now for the fun part—seeing different lofts in person!
Focus on Layout & Natural Light – Since lofts are open-concept, pay attention to storage options and how much natural light the space gets.
Explore the Neighborhood – Check out the restaurants, coffee shops, and community vibe.
Look Beyond the Blank Canvas – Some lofts come as raw spaces, so consider how you’d customize it.
Step 5: Make an Offer & Negotiate Smartly
Loft pricing in DTLB varies widely, from $500K entry-level units to multi-million-dollar penthouses. The key to getting a great deal?
Market Analysis – I’ll provide recent comps to ensure you’re making a competitive yet strategic offer.
HOA Review – We’ll verify any restrictions (like Airbnb policies, pet rules, etc.).
Inspections & Appraisals – Since lofts are older buildings, check for plumbing, electrical, and HVAC updates.
Step 6: Close the Deal & Move In!
Once your offer is accepted, we’ll work through:
Finalizing financing & inspections
Reviewing HOA docs & disclosures
Closing escrow and getting the keys to your new loft!
Now, it’s time to move in and start enjoying the best of loft living in Downtown Long Beach!
Thinking of Buying a Loft in DTLB?
I specialize in Downtown Long Beach lofts, condos, and adaptive reuse properties. If you're ready to find your perfect space, let's connect—I’ll guide you through every step of the process!
Contact me to get started!
