However, as Sarah settled in, she realized why that lower price tag existed:
When Sarah, a first-time homebuyer in New York City, saw the price tag on the charming Upper West Side apartment, she couldn't believe her luck. It was $150,000 cheaper than comparable condos in the same neighborhood. She was buying a —or, more accurately, she was buying shares in a corporation that owned the building, which entitled her to a proprietary lease on her unit. advantages and disadvantages of buying a coop
She was pleased to learn that a portion of her high monthly maintenance fees—which cover property taxes and the building’s underlying mortgage—was tax-deductible. The Reality Check: Disadvantages However, as Sarah settled in, she realized why