Home Buying in Queens>Question Details

Sha Mills, Home Buyer in Queens, NY

Have 200,000 to buy a coop worried about mantainance and taxes

Asked by Sha Mills, Queens, NY Thu May 8, 2008

hi im 21 female in queens..I just got 250,000 from the selling of my moms house i want a 2 bedroom coop but i need to know how much i would be looking at in maintanace and taxes. I need something in the jamaica area that allows pets i have a small dog and im on a budget I make 1300 a month after taxes can i afford a coop? i really dont want to rent

Help the community by answering this question:


Hello Sha,

Why don't you consider skipping the Co-op and buying a house? Find a Realtor who will take the time to research multi-unit propoerties that actually produce positive cash flow. I just brokered a deal with an excellent seller's agent who worked closely with me to help my clients obtain a mixed use property with a small store that generates approximately $1000 per month over their mortgage, taxes, insurance and operating expenses. We did this with less money than what you've advertised you currently have to put down on a Co-op.

May I suggest you stay put, continue to rent until your Realtor, Mortgage Broker, CPA and Attorney can put together a more advantageous project to fund your future homeowner dreams? Nothing beats working with a good team of people looking out for your interests. You've been blessed with a lump sum of money. Invest in your future wisely with it. There is nothing wrong with buying a condo or a co-op, but you may want to consider other options that may generate more long term financial benefits before you do.

Enjoy being able to make new homeownership decisions. Wishing you the best in your hunt for a home.

Regards, C.
Web Reference: http://www.TannStarr.com
1 vote Thank Flag Link Wed May 14, 2008
Sha Mills,

I have a very nice coop in Jamaica that might fit your budget. call me 347 968 1309.
I specialize in Condos and Coops
0 votes Thank Flag Link Tue May 13, 2008

My name is Michael Marsilio with Century 21 Benjamin, I specialize in residential and investment properties in the queens area. With regards to your situation these numbers will vary depending on the development. You really have to take each cooperative individually as the maint charge will vary depending on what is included. As for your income again each board has different requirements such as minimum down payments and income requirements. If you like you may contact me and we can go over your situation and determine if in fact you qualify. Also do you know what your credit report looks like???
You may contact me either by e-mail or by phone 917-681-5475 or michael.marsilio@century21.com I look forward to speaking with you.
0 votes Thank Flag Link Mon May 12, 2008
Hi. I am in the process of buying my first condo so I know the feeling you are experiencing. FYI- I am a woman in my 20's as well lol. I found a link to some condos out in Queens. Let me know if you find something. I also got a good interest rate so e-mail me if you need any recommendations. Here is the link:
0 votes Thank Flag Link Fri May 9, 2008
Hi Sha, please call me. I have some questions to make sure we get you what you are looking for. I;ve sold many coops in Queens and I can help you with any concerns you may have.

Henry Cunalata
0 votes Thank Flag Link Thu May 8, 2008
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