Find Your Next Place

Powered by
The Agency

Condo vs. co-op: The debate rages on

Published May 16, 2016 (almost 10 years ago) · Updated 3 months ago
Condo vs. co-op: The debate rages on
  • New and improved, quickly approvedI like newer buildings and the amenities that come with them. I'd rather not deal with a long application process, either. I'll take a condo! —Jen, Astoria (pictured above)
  • Risk aversionI guess I'd rather submit to examination and approval process and buy in a co-op. That way there's more control also in who can be my neighbor. That's the main thing: It's not as risky. Plus, if the price is cheaper, that's even better. —Maria, The Bronx
  • A degree of control and affordabilityI like older buildings, and I like lower price tags. And I've had enough of sh**ty rental neighbors to last a lifetime, so I think a co-op is best for me. —Alli, The Bronx (pictured above)
  • What about freedom?With condo you actually have more ownership over your place. Like you can rent it out without restrictions, which is a huge advantage over co-op. What if I want to live in another country? Or just want it as an investment? —Jacob, East Harlem
  • But then again ...My friend owns in a co-op and I was asking him why they don't allow rentals if it helps the owner. He said renters don't take care of the place like owners do and they don't invest in the community either, so that's how they protect themselves. I see his point, so if I'm buying, I'd invest in a co-op. —Leanne, Jackson Heights
  • Say no to hoopsCondo means I have actual ownership over my own place and can rent it out, sell it to whomever I want, and not have to jump through hoops. I'll take a condo. —Aleesha, Hamilton Heights
Verdict: There is none! It's a question worth debating, and debating some more.
Loading ad...

Newsletter

Join over 50,000 New Yorkers who read our newsletter to become smarter real estate shoppers and residents. Get the latest NYC insights delivered weekly.

By signing up you agree to our Terms of Use

Find Your Next Place

Powered by
The Agency
Loading ad...