I have a 700 sq ft junior 4 that is in excellent shape. Three years ago I sectioned off the dining room with french doors, installed hardwood floors and a new bathroom/kitchen. Carrying costs would be an $1100 mortgage, $600 in maintenance, and a $300 rental fee charged by the board. Would I be better off selling now or renting the property ? I understand I could be losing money in the first few years until rental prices catch up, but if the upside on the appreciation is significant, it could be worth it.
You can check MLSLI.com under closed properties for the area and get a general idea; do keep in mind they vary depending on size, building and amenities and interior conditions.
Hey there is defnitevely a rend developing in NY in dropping proces real state agents trying to deny this things on here but you cant go against the trend prices are hyperinflaetd so is rent salaries are no sufficient to cover the living expenses and i mean good salaries , people like belal who are agents will always try to ratio0nalize un needed extra fee because their jobs depends on that but the trend shows that prices overall will turn to go down to have an adjustment with current salary market otherswise if prices inflate and salaries stay the same rentals or sales can not be there its a waiting game
Dear M.K.
When it comes to Coop, there is NO average price in one zip code. It varies from block to block, Coop to Coop. Each situation is unique. If your Coop is closer to subway, very well maintained, steady maintenance fee, it should appreciate better than other Coops. Although that $300 rental fee could be concerning. However, I know most Coops in Rego Park. If I know your Coops name or address, I can give you a better opinion. Please e mail me at belal1@juno.com or call me at 917-763-2260. Thanks. - Belal
Hi MK. Please provide me your email and I will send you an email with similar properties that have sold in your area.
Henry
917-497-0729
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