CO-OP owners....

how much do you pay in mainence fee's/ taxes... our is combined monthly and my dad is concerned about the dollar amount.
its 624 per/month for tax/maintence fees.
We have a 2 bedroom unit with a backyard...

I know the 1 bedroom unit has 500 for tax/maintence (not sure about backyard as the 2nd floor units dont have one).

Is that good or bad? (7500) total... even if taxes were like 3000 or so, thats still 4500 in maintence...

thanks

It all depends on the area you live in and the amount of room you have in your co-op. Our monthly fees are about $600 for a one bedroom, but I know the people above us have to pay more....not suer exactly how it's all figured out.
You should also look into getting a STAR exepmtion....saves us about $128 a month on maintenance

The reaon the maintenence fees might be high is that they sometimes like to have money on hand so that when they want to update the place, they can, without raising your maintenance charges. For instance.....they're starting to put new doors up for everyone here, and they are using money we've already paid to pay for that. It's all part of co-op living!

i also forgot - i think there's some sort of a tax deduction that goes along with the maintenance fees

thanks palebride...im aware of tax deduction (65 percent is what i heard)

your post makes sense about future upgrades. when we visit our home, they were replaceing the some parts of the sidewalk and everybodies entrance way looks newer also

i didnt know i could still apply for star... that is cool. i thought it was different cause the co-op pays the tax...then we pay them.

is that normal for maintence/tax to be combined?

It is normal for the fees to be combined.....that's standard for co-ops.

Definitely apply for STAR - it's simple and saves a bucket of money! I think you missed the last cutoff, but if you apply now, you should make the next one.

And, judging from what I've seen when we were looking, and what other people have said abut their maintenance fees, your fees are average - possibly even lower...so nothing to worry about!

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Posted by palebride

It is normal for the fees to be combined.....that's standard for co-ops.

Definitely apply for STAR - it's simple and saves a bucket of money! I think you missed the last cutoff, but if you apply now, you should make the next one.

And, judging from what I've seen when we were looking, and what other people have said abut their maintenance fees, your fees are average - possibly even lower...so nothing to worry about!

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i gonna own something

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Posted by MCDO15



i gonna own something

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it's a great feeling isn't it?

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Posted by palebride

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Posted by MCDO15



i gonna own something

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it's a great feeling isn't it?

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it really is though..granted its not a house, its better then our apt now and we get to invest and gain from it.

they set our closeing (on or about date) in a couple of weeks. we hope to be in by the end of september and our first hoilday is already planned (Thanksgiving)... we are excited

im just glad a can apply for star and save that money. if its 100 dollars, we be in great shape to still save

it gets even better!

We're starting to look at houses...and it's amazing to see how much your property goes up in value to help you with a down payment!

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Posted by MCDO15

how much do you pay in mainence fee's/ taxes... our is combined monthly and my dad is concerned about the dollar amount.
its 624 per/month for tax/maintence fees.
We have a 2 bedroom unit with a backyard...

I know the 1 bedroom unit has 500 for tax/maintence (not sure about backyard as the 2nd floor units dont have one).

Is that good or bad? (7500) total... even if taxes were like 3000 or so, thats still 4500 in maintence...

thanks

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Don't worry... thats about average for maintenance charges for a 'garden' type apartment.

When I saw what you paid for your place... I figured your maintenance must have been in the 700-800 range.

Tell him mine's $999....WITH STAR!! That should make him feel better about yours

thanks pill and nov... my dad is just being silly making me silly making sure they aren't take all of our money. i tell him we are avg if not a tad less.

999 is alot... we saw a copop that wanted 900ish.. but it was like 200,000. It was a duplex and would of had plenty of space but im glad we passed it by