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NWR: buying a coop

christy Posted: Jan 01, 2003 11:40 PM+

christy MEMBER SINCE: 1/02 TOTAL POSTS : 6763 WEDDING DATE: Apr 18, 2003

Posted: Jan 01, 2003 11:40 PM

NWR: buying a coop

Can someone tell me the pros and cons of this? FH wants to buy one after the wedding. THANKS

tarakinspa Posted: Jan 02, 2003 08:26 AM+

tarakinspa MEMBER SINCE: 3/02 TOTAL POSTS : 2479 WEDDING DATE: May 18, 2003

Posted: Jan 02, 2003 08:26 AM

Re: NWR: buying a coop

A coop as compared to a condo is basically owning a share of the building as in percentage not the actual apartment itself like a condo. There is also a board that must approve alot of things like work you might want to do, certain days you are allowed to move etc. There are also Maintenence fees for both I think. Condo is better as far as I have heard but they are also not as easy to find or easy to afford, I am going through the same dilemma myslef, rent, buy a house, buy a co-op....so confusing!!

Good Luck hope this helped.

dubliner Posted: Jan 02, 2003 08:36 AM+

dubliner MEMBER SINCE: 8/02 TOTAL POSTS : 4042 WEDDING DATE: May 25, 2002

Posted: Jan 02, 2003 08:36 AM

Re: NWR: buying a coop

I bought a coop, and the rules are much stricter than a condo / house. BAsically, in a co-op you will own shares of the 'community' (building)

If you FM me later I can give you more information

I bought a book at the time, I think it was the co-op bible, but it was more geared towards MAnhattan.