ST Alpha - "Why is it you want to live in a co-op?" (Reading a Post)

SlickerTalk
Search Archives
The Leaderboard
The FAQ

Down to Post

Backboards:

Posts: 165

Why is it you want to live in a co-op?

Posted by Subversive Jun 16 '09, 08:28

Wouldn't it be easier and cheaper to just buy a house or a condo at this point?

Responses:

don't know about NY, but in vancouver it's a lot cheaper to buy co-ops. -- nm - mafic Jun 16, 08:31 17
- Why is that? I don't quite understand it. -- nm - Subversive Jun 16, 08:36 15
  - because you're not buying a piece of the building ... -- nm - Beryllium Jun 16, 08:37 14
    - [deleted] 5
      - Whereas in a Strata, for example, you own a set of physical dimensions called a Strata Lot ... - Beryllium Jun 16, 08:39 3
        
        heh. you own air, I own paper. -- nm - mafic Jun 16, 08:46 1
        
        and soon, hopefully, I will own land. -- nm - Beryllium Jun 16, 08:47
        
        [deleted]
      - but as a share, rather than a discreet section. -- nm - znufrii Jun 16, 08:39
    - So all you own is the right to live there? -- nm - Subversive Jun 16, 08:38 7
      - technically I own shares in a corporation and lease the apartment from the corporation. - mafic Jun 16, 08:45 5
        
        So it's cheaper because the pool of potential buyers is so much smaller? - Subversive Jun 16, 08:46 4
        
        yep, and people that do have that kind of down payment can usually get bigger mortgages and buy bigger places. -- nm - mafic Jun 16, 08:48 2
        
        Right, shrinking the pool of buyers even smaller. - Subversive Jun 16, 08:51 1
        
        [deleted]
        
        [deleted]
      - you own a percentage of the building. but it's run by the tenants not a larger company usually. you need a higher down payment usually - Andie Jun 16, 08:40
- (like my apartment in my neighbourhood would probably be almost twice as much if it wasn't co-op). -- nm - mafic Jun 16, 08:32
masochism. -- nm - loosilu Jun 16, 08:31
[deleted] 6
- I see. Well, hopefully it works out. -- nm - Subversive Jun 16, 08:35
- here too. -- nm - Andie Jun 16, 08:34 4
  - I don't know that we have such a thing in LA. Here, condos and houses rule. -- nm - con_carne Jun 16, 08:36 3
    - toronto is MOSTLY condo. but there are coops. - Andie Jun 16, 08:41 2
      - [deleted]
      - The IM: Oh, maybe that's true here as well. I just never hear the term. -- nm - con_carne Jun 16, 08:45

Post a message top

Why is it you want to live in a co-op?

Replies are disabled on threads older than 7 days.