Ask Experts Questions for FREE Help !
Ask
    Mel0055's Avatar
    Mel0055 Posts: 6, Reputation: 1
    New Member
    		  
    #1

    Feb 8, 2008, 07:32 PM
    Hey New Yorkers, is buying a co-op in Manhattan a good idea?
    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!
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Feb 8, 2008, 07:44 PM
    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.
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
    Uber Member
    		  
    #3

    Feb 8, 2008, 07:52 PM
    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.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Rerouting pipes in 12 unit condo building? Good idea or bad idea [ 2 Answers ]

Is it a good idea to reroute pipes for a 12 unit building rather then take the chance of digging up concrete parking lot and plumber not finding where break in clay pipe is? If there is a break in the pipe at all how can you put a liner in if you can't see?? I personally think the plumber is lying...

Is %temp% a good idea [ 6 Answers ]

A friend of mine told me about a maintenance step that keeps his computer running faster. He does this on a regular basis with no problems. He told me to click RUN, and enter %temp%, which opens a folder called TEMP. Then delete all the files in this folder. Some of my files in this folder...

Ex or Coke.. . Good idea? [ 11 Answers ]

My girlfriend has said that she feels as if she has lost the chemistry between us. I have read that cocaine and exctasy both release the same chemicals in the brain (Dopamine and Endorphin) as falling in love and getting that everything-we-do-gets-me-naturally-high stage. Should we try it once and...

Is this a good idea? [ 2 Answers ]

So here's the situation in a nutshell, some of you may have actually read some of the first posts months ago, but for those who haven't: About 6 months ago there was this guy who I saw working at a store near my house, our eyes meet and bam! I was struck, so to speak, and I think he was too,...

Is ged a good idea? [ 9 Answers ]

I'm a freshman and I guess I don't do good in school... well I definitely don't do goodthis quarter I got n u u n u u f and last quarter I got a 57 average and only passed one class( the way my school works is the firrst quarter of every term you get alpha grades like S G E U or N) and my mom...

View more questions Search