Loft Living Makes Home Ownership Possible for Many Tenants
The city of Buffalo New York, located in the Empire state’s western region, is famous for a lot of things including a pro-football team )The Buffalo Bills, buffalo-style chicken wings, a booming art and music, internationally accredited institute of higher learning, and of course, brutal winters.
Like many other American cities located in the nation’s rust belt, such as Detroit and Cleveland, Buffalo was regarded as a booming steel town during the mid-century. The steel, manufacturing, and railroad industries relied on Buffalo’s convenient and low rate of unemployment to turn tremendous profits. Over time, Buffalo has experienced a series of heavy economy hits, losing the industries and workers that brought the city wealth and prosperity. The latest hit, The Great Recession of the mid 2000′s, further impacted the city’s economy.
However, Buffalo has made a comeback. The Buffalo-Niagara metropolitan area was recently cited has having the most affordable housing market in the nation. The region continues to make a strong comeback. Developers, seeking to capitalize on the region’s potential, have taken advantage of government initiatives and financial incentives by revamping old manufacturing buildings and converting them into trendy new luxury apartments.
The city’s downtown area, as well as the trendy Elmwood area, boast some of the city’s most beautiful apartment buildings. It’s hard to believe these buildings, now showcasing the best apartments available, were once abandoned for decades. These newly renovated lofts and apartments allow tenants to enjoy renting a luxury space for an affordable rate, while enjoying several amenities.
Buffalo isn’t the only metropolitan area experiencing a boom in affordable luxury apartment rentals. In fact, potential home owners across the country are choosing to rent a loft apartment over buying a home, citing affordability as their main reason. Renting a loft apartment allows tenants to enjoy all the benefits of living in and owning a home, without all the hassles and expense. Find more.