does anyone live in a condo or co-op? or know people that do?
ILOVEBRIAN2008
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does anyone live in a condo or co-op? or know people that do?
When we get married we would like to get out of our apartment (and as much as we would like a house its just not gonna happen) so we were thinking of getting like a 2 bedroom condo or co-op so that when we have a kid theyd be ok there till we can eventually get a house
Does anyone know any info on either of these in Nassau county like how much they are? and where? Im DYING for my own washer/dryer LOL
GiJoe07
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Re: does anyone live in a condo or co-op? or know people that do?
A 2 bedroom condo in Nassau would be the same price as getting a decent starter home. A co-op would be more affordable. We have a condo in Suffolk. FM me if you want more info.
Chanwich
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Re: does anyone live in a condo or co-op? or know people that do?
My best friend and his fiance have a co-op in Lynbrook. Its 1br, 1 ba and I think they paid around 200K for it. But this was a couple years ago, so Im not sure what the prices are like. They also live in a co-op that has a lot of elderly people in it, so Im sure its more affordable than a trendy co-op in other areas.
CAD0608
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Re: does anyone live in a condo or co-op? or know people that do?
It definately depends on the area you are looking at. COndos are alot more expensive then coops so you are probably better off getting a coop. If you need any help feel free to FM.
LVC8
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Re: does anyone live in a condo or co-op? or know people that do?
I'm not sure if you'd consider Queens, but Bayside is a condo/co-op haven - there are a lot of garden apartment complexes where you can have a bbq grill outside and your own W/D. You could get a really nice 2 bedroom there for about 200,000 and you'd be minutes from the Nassau border.
snowcat
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Re: does anyone live in a condo or co-op? or know people that do?
why are condos more $$$? are they better?
GiJoe07
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Re: does anyone live in a condo or co-op? or know people that do?
Posted by snowcat
why are condos more $$$? are they better?
With co-ops you only own a share of the building with a condo you actually own the property and have a title.
DiamondPipa
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Re: does anyone live in a condo or co-op? or know people that do?
Coops and condos are both a pain in the butt....but coops are harder to sell because even if you have a great buyer, the board looks through all the financials and it's so subjective that you may lose the deal b/c of some jerks. Condos are easier to sell. Coop maintenance is generally higher b/c it includes the taxes of the corporation (since you own the shares of the corporation and not the unit itself). With a condo, you pay your own taxes. If you're looking for a short term thing, i say go for the condo b/c it'll be easier to sell or even rent later on. coops rarely let you rent...they are very strict.
Good luck!!!!!!
emcheung
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Re: does anyone live in a condo or co-op? or know people that do?
check newsday.com under real estate and mlsli.com for listings of condos and co-ops. very helpful.
eastendgirl
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Re: does anyone live in a condo or co-op? or know people that do?
FH and I live in a condo for the same reasons you were talking about. We can't afford a house yet but we wanted to own and not rent. What everyone is saying is right, condos are usually more expensive. However, when you buy a co-op you are only part owner and your monthly maintence charges are usually much higher than with a condo because you are paying part of the co-op associations mortgage. I am not sure exactly why it is but I know when we were looking we found we were better off with a condo. The cost of our condo was more than a co-op would have been but our monthly mortgage plus common charges is about the same or less than it would have been in a co-op. Hope that all made sense!
Dana523
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Re: does anyone live in a condo or co-op? or know people that do?
i just bought a condo in queens (howard beach) its 3 BR and 2 baths and cost as much as a house lol...we looked into coops as well but there were all sorts of regulations on how much % you have to put down, certain rules about selling and you have to go through the board for many things such as renovations. There is a lot more freedom with a condo, much like your own house. Im not sure about the prices in nassau, but for what we paid in queens you could def get a house somewhere like suffolk im sure....i guess it mainly depends on the area. good luck...FM me if u want any more info
micknjohn
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Re: does anyone live in a condo or co-op? or know people that do?
I live in a coop in garden city. It's a good starter. We couldn't really afford any of the homes in garden city and even the condo's here cost as much as avg priced homes elsewhere! So it's good to start off with this
ILOVEBRIAN2008
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Re: does anyone live in a condo or co-op? or know people that do?
Posted by micknjohn
I live in a coop in garden city. It's a good starter. We couldn't really afford any of the homes in garden city and even the condo's here cost as much as avg priced homes elsewhere! So it's good to start off with this
Re: does anyone live in a condo or co-op? or know people that do?
Try Foxtons.com.
micknjohn
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Re: does anyone live in a condo or co-op? or know people that do?
Posted by ILOVEBRIAN2008
Posted by micknjohn
I live in a coop in garden city. It's a good starter. We couldn't really afford any of the homes in garden city and even the condo's here cost as much as avg priced homes elsewhere! So it's good to start off with this
can u FM me how much it was if u dont mind?
Sending you FM mail...
vintagegirl
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Re: does anyone live in a condo or co-op? or know people that do?
My friend just sold one in Glen Oaks.. also known as Co op city they run from like $200-$250k
Lemons
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Re: does anyone live in a condo or co-op? or know people that do?
I just purchased a 2 bedroom coop in queens (bayside)... The complex that I bought into gives me the option to rent the apt or see once I move...FM me if you'd like more info....good luck!
SusiBtoM
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Re: does anyone live in a condo or co-op? or know people that do?
I've owned my garden co-op in Bayside since 1998. Eventually I want to sell and buy a house, just because I want my own space and backyard.
Make sure you check out the co-op's/condo's financials, how often does maintenance increase, do they charge assessments, flip tax or fixed amount when selling , 100% owner occupied or sub-lets allowed. Is there a land lease ? How is the property maintained ? Your own garbage cans / recycling cans or is there a central drop off.
Buildings with elevators and pools will have higher maintenance than garden apts or walk ups.
Every one mentions W/D - direct water hookups or drain into tubs/sinks. Can the dryer be vented ? I have a laundry room where I can do 3 loads at once.
Newsday's Friday edition is great on real estate listings. Check out their on-line listings.
Don't want to scare you off, but some of these questions are important so you know what you are getting into.
Good luck !
jessnyc711
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Re: does anyone live in a condo or co-op? or know people that do?
We bought a co-op in bayside queens, not far from Nassau county. Our plan is to sell in a few years and get a house. It's a good first step into homeownership - better than renting, so whatever you can do, just do it. I found that Condos in Queens are priced around the same price as a small home in LI, so I'd rather save up and get a nice home later on.
jessnyc711
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Re: does anyone live in a condo or co-op? or know people that do?
One other thing I wanted to mention, Yes, I have a washer/dryer in my co-op - and a dishwasher, so I'm in heaven. I also have excellent parking, in front of our place, we have two cars, It's great.
