On the real estate stage, Flushing co-ops have a leading role. From affordable price tags to much-appreciated amenities, they attract buyers from Manhattan and beyond. If you are thinking of purchasing a property in Flushing, you've come to the right place. Today we are going to shine the spotlight on Flushing co-ops and clear any confusion you might have about this popular housing option.
Act One: Purchasing a Co-op
The first thing that you need to know about Flushing co-ops is that they are corporations. What does this mean on the real estate stage? Co-op residents don't own their units outright. They own shares in the corporation. Shareholders have the right to occupy space in the building.
If you decide to purchase a co-op, you won't finance it with a mortgage. You will need to get a share loan. These loans play a similar role to mortgages, but they typically require a high down payment.
Act Two: Co-op Styles
When it comes to Flushing co-ops, variety is the spice of life. Here are a few of the co-op styles you might encounter during your home search in Flushing:
Act Three: Co-op Considerations
If Flushing co-ops grab your attention, you're not alone! Are they the best housing option for you? Here are a few additional co-op considerations to help you decide:
The Final Act: Starting Your Co-op Search
If Flushing co-ops are the star of the show, then you might play a supporting role! Contact Flushing Realty today to check out current co-op listings.