In the old days, it was common for stores to have a living space above for the owner’s family. Housing was not as plentiful and many people lived this way until modernisation changed the housing market. Now, many of these places are rented out for additional income. It may sound like a good idea, especially if it is a store you frequently shop at, but there are some things to consider before jumping in.
Consider the Type of Business You’ll be Living Above
Most often, apartments are located above bars, restaurants, and convenience stores. In some cases, you may find a spot above an accounting office, a dry cleaner, or cigar shop. In some areas, like by waterways, you can find loft apartments in the warehouse district. Regardless of the type of business, one of the main considerations should be how much the business will impact your lifestyle. If they are open from 9 am – to 5pm, and you work the day shift, it will probably not affect you at all. On the other hand, if it is a busy neighborhood bar, the music and noise could keep you up all hours of the night.
Rental Costs
There are factors that may affect your rental costs. The rent may be higher, or lower, than an apartment of the same size in a different location. You may pay more if the building is located downtown. You may pay less if the owner pays for the water and trash collection. Weigh the positives against the negatives when deciding.
Accessibility, Convenience, and More
Living above a restaurant has its perks. It is extremely convenient if you want to order food one night as you simply have to go downstairs to pick it up. Same with grocery stores or laundromats, all you have to do is walk downstairs to use the services. However, this also means that you will have to carry in your groceries and laundry up a flight of stairs, as most stores don’t have elevators installed.
If it is a particularly busy place, it may be hard to find parking, or getting to public transportation. You may have to park in a parking garage or lot close by and walk-in or walk a few blocks to hail a taxi or catch a bus.
Smells and Odors
You may also have to deal with certain smells or odors living there. Restaurant smells are usually good unless it is a type of food you don’t care for. Certain cuisines use strong herbs and spices in their dishes which some people may dislike. Besides restaurants, other businesses often have strong odors which may also be offensive such as cleaning chemicals from dry cleaner shops or odors from a pet shop. If this is the case, it is something you will need to consider as you will live there on a daily basis.
A Room with a View
Besides all the possible negatives of living above commercial space, if you are located downtown and have a front-facing window, you have the best seat in the house for parades and fireworks. No matter how many people are on the street, you have the best view of all the festivities.
If you’re considering renting an apartment above a store, there are many potential benefits to this type of living arrangement. However, there can also be a few unexpected drawbacks. Explore the area carefully and make a list of the pros and cons before you decide to live above a business. As you can see, there are positives and negatives about living above a store or other business. These are things you will need to consider if you are wanting to rent this space. For more prospective rental properties, check out the rent reviews at Rent Rabbit. Find reviews on the places you’re interested in, or leave one of your own on a place you rented. You can compare rental properties here: www.rentrabbit.com.au
