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Rent vs Buy in Prospect Heights : Real Estate Advice

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Activity 1
Sun Sep 30, 2012
First Last answered:
Congratulations on taking the right first step, which is getting a pre-approval letter! This makes life much easier for everyone as you consider your options.

There are co-ops that will accept 10% as a down payment in Brooklyn, I have represented some as the listing agent, but yes, this does certainly limit what is available for your purchase. Many co-ops require 20% as a minimum, or even 25% or more.

I would be happy to speak with you to calculate which approach is best for you personally. If you plan to live in the area at least 7 years, owning for most people is almost always a better financial investment than renting.

Karla Harby
Licensed Real Estate Salesperson
Rutenberg Realty
New York, NY
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