Flushing Co-ops Steal the Show

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:

Mid-rise, brick, prewar-style buildings.
High-rise buildings.
Townhomes.
Garden-style apartments.
Duplexes, triplexes and multiplexes.

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:

Residents of moderate- and large-sized co-ops typically enjoy a low-maintenance lifestyle. Remember to factor the monthly maintenance fee into your budget.
Smaller co-ops often require residents to pitch in on some maintenance tasks to keep costs down.
Co-ops have a reputation for being more restrictive compared to other types of housing. While they abide by fair housing laws, they choose residents carefully to ensure the co-op's financial health.
Flushing co-ops often include coveted amenities, such as parking, a doorman or on-site laundry facilities.

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.