Coop Apartment in NYC | 4 Reasons Why You Should NOT Buy a Co-op

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Condo vs Coop. Which one is better? As a first time home buyer, buying a co-op in New York City can seem very complicated and challenging process. In this video we'll talk about 4 important reasons why one should not buy a co-op apartment.

Timestamps
0:00 - Intro
2:16 - Reason 1
3:22 - Reason 2
6:13 - Reason 3
7:12 - Reason 4
8:04 - Outro

There is no one-size-fits-all approach and co-ops might just be the perfect fit for many people, provided that you, as a buyer, know what exactly you are looking for, you know how to find the buildings that match your qualifications and your specific housing needs. But at the same time it’s true that co-ops in NYC come with a unique set of challenges and for certain individuals buying in a co-op building may not be the right decision.

Other co-op videos

What is a co-op apartment? | The Complete Guide to Buying a Co-op in New York City

Co-op Board Package

Co-op Financial Requirements

Co-op Apartment Pros and Cons
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Another point to add. If you are buying thinking you will fix it up while you live there just know construction is much harder in a co-op. It requires board approval and an insured contractor.

gmeztubenation
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Co-ops in washington heights seem really cheap....do you think it would be a good investment?

scottlouis
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What is the percentage of the down payment should you have before even considering getting a loan.

StephanieFulcher
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Worst mistake I ever made. My management company does not own up to their responsibilities and the board lets them get away with it.

iguaran
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You dont need to show everything just enough to show tiu can afford the place

keithwisdom
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Co-ops lean heavily toward older retirees.

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