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Flushing, Queens is touted as an attractive blend of urban and suburban features. A lower cost of living and plenty of green spaces nod to its suburban appeal. A selection of delicious restaurants, endless entertainment and those stately, pre-war buildings where co-op living abounds remind residents that the heartbeat of New York City isn't far away.
Co-op Features
The biggest difference between co-ops and other types of urban housing is ownership. When you purchase a co-op, you don't actually own your new home. The building is viewed as a corporation, and you will purchase shares that allow you to occupy a unit. If this seems unusual to you, don't despair! At Flushing Realty, we have plenty of experience in helping our buyers secure a co-op that suits their needs.
Ownership is only one of the unique features to co-op living. Here are a few other characteristics that make co-ops stand out:
- Instead of a mortgage, co-ops require a special type of loan. This share loan sometimes requires a higher down payment compared to a mortgage.
- Co-op owners usually pay an additional monthly fee to cover building and grounds maintenance.
- Co-op living is an affordable option compared to traditional ownership. Sometimes it is even more budget-friendly than renting.
Flushing Realty Is Your Co-op Resource
If the facts about co-ops leave you feeling confused, Flushing Realty is here to help! Our agents offer valuable advice that will increase your confidence in your investment. Here are a few things that make Flushing Realty stand out from other real estate agencies in the area:
- Our agents live and work in Flushing. We have a finger on the pulse of the local real estate market simply by being immersed in it.
- We possess extensive knowledge about the unique nature of urban housing.
- Our agents love living in Flushing and are dedicated to helping their clients achieve real estate success in this upbeat community.
If co-op living has your attention, contact Flushing Realty today to learn more about getting into the co-op market in Flushing!
Contact us today at (718) 997-6000 or email us here.
