co-op question

jenheartsrob Posted: Feb 17, 2007 10:51 PM

co-op question

Hi guys,
I've never even considered living in a co-op before, but with the market the way it is, it seems that that's what's in our price range... we have seen some that we really like... but I'm curious about what the downside is about co-op living.... and also, how is resale value later on? They don't appreciate as much, correct?

Any input and insight is greatly appreciated!

ejm1219 Posted: Feb 18, 2007 07:37 AM

Re: co-op question

We originally started looking at a coop. It is around 230 (for the ones we wanted anyways) and its still an apt. You have to ask the coop board to do anything in the apt you have bought. When you resell it, the coop board has to approve who is coming in which isn't always easy! Also, there is something called a fliptax at the end where you have to pay the coop board to sell. It was too much b.s. for us. We felt if we streched it a little more, we could have a small house - and we did get one in Levittown!