I've been renting for 5 years and am considering buying a co-op in Manhattan. I've been researching and found many advantages of a co-op. Now, the problem is just finding one that fits in my budget and my specifications. Just wanted to get other people's thoughts on co-ops. Thanks!

Owning any real estate is better then renting because you build equity instead of waving your rent goodbye. Plus you get tax breaks.

Manhattan is still a good place to invest.

Just be sure you bring gobs and gobs of money with you as the prices there will totally floor you for a one bedroom closet where you have to go outside to change your mind. Other than that it's OK - just be sure that the people above you don't walk around in high heels on bare wood floors at 2:30AM while you are sleeping or the people next door's bedroom is not right up against yours unless you have the walls heavily soundproofed. Be sure to factor in the monthly maintenance fee as that goes up all the time like clockwork. It could possibly be a very very long time until you get a place that is up to your standards, but don't give up so quickly as there are lots of great places out there to buy.