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Co-Op... So torn, need advice
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MrsM-6-7-08
<3
Member since 8/06 4249 total posts
Name:
Nicole
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Re: Co-Op... So torn, need advice
Posted by Blu-ize
I wouldn't buy. Rent and save your money. It's not throwing it away..it's your home, you live in it.
Save a ton of moolah and get the home you really want.
I too would hate the laundry situation.
Yes, the tax deduction is great but you have to spend the money to get the deduction. That makes no sense.
ITA!!!!
Rent and save up faster for what you really want!
There is nothing wrong with renting, and it irks me when friends say its throwing money away, that is so far from the truth!
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Posted 3/12/10 10:56 PM  |
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jenheartsrob
LIF Adult
Member since 5/06 1861 total posts
Name:
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Re: Co-Op... So torn, need advice
our maintenance is 75% tax deductible in our co-op, which makes it worth the investment right there :)
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| Posted 3/13/10 12:12 AM |
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queensgal
Smile
Member since 4/09 3287 total posts
Name:
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Re: Co-Op... So torn, need advice
I would say it totally depends on how long you plan before getting the house.
DO NOT BUY Something you only want to be in for 2, 3 years. Owning is a long term investment. You never know what the market will do, and hey, you may get lucky. But you should only consider buying if you think you will live there for 5 years or more.
Add up the cost of renting for 5 years and the cost of home ownership. Do a comparison and then go with your gut.
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| Posted 3/13/10 10:11 AM |
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MRnMRSNurse
LIF Adult
Member since 8/09 1318 total posts
Name:
Jessica
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Re: Co-Op... So torn, need advice
UPDATE
We have a lease agreement with the Devil until April 2011 so the co-op idea is lost. We are going to buy one though come the end of our lease. Thanks for all the great advice.
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| Posted 3/13/10 1:43 PM |
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jps
LIF Toddler
Member since 11/09 435 total posts
Name:
Jennifer
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Re: Co-Op... So torn, need advice
Posted by MrsM-6-7-08
Posted by Blu-ize
I wouldn't buy. Rent and save your money. It's not throwing it away..it's your home, you live in it.
Save a ton of moolah and get the home you really want.
I too would hate the laundry situation.
Yes, the tax deduction is great but you have to spend the money to get the deduction. That makes no sense.
ITA!!!!
Rent and save up faster for what you really want!
There is nothing wrong with renting, and it irks me when friends say its throwing money away, that is so far from the truth!
There are definitely days that I feel like we are "throwing money away" paying NYC rent... but, we are getting a lot at the same time (namely living in the city!), aren't in a position to buy in the city (don't want to, and we'd rather live in our apt than in what our $$$ could buy in NYC) and we aren't ready to move to the suburbs yet... and aren't sure where we want to settle down. So... we too are "throwing away $$$" 
renting isn't always a bad thing...
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| Posted 3/14/10 9:49 PM |
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| Pages: 1 [2] |
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