Advantages And Disadvantages Of Buying A Coop -

Her lender warned her that it was harder to get a loan for a co-op, as she was technically buying shares rather than real property.

When Sarah wanted to move away for a year for work, she found out her co-op board restricted subletting to only one out of every five years. The board also had strict rules regarding renovations, noise, and even pets. advantages and disadvantages of buying a coop

Sarah ultimately loved the stability and charm of her building, but she realized that a co-op requires sacrificing flexibility for community and lower entry costs. It was the perfect home for her for five years, but she knew that selling it would require the next buyer to jump through the same hoops she did. Her lender warned her that it was harder

There was no title insurance or mortgage recording tax, saving her thousands at the closing table. Sarah ultimately loved the stability and charm of