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Why condo/co-op? Those are harder to re-sell and limit his options. Maybe a house? What are his parameters? Location etc?
He can find places in Elmhurst, Glendale, Middle Village with that budget. These are solidly owner occupied locations.
Not everyone wants to live in a house. I have zero desire to shovel, landscape, take care of a boiler, be flooded out, repair my roof, etc. all by myself.
Yea, this guy got spoiled with the amenities of his current place. Indoor gym, pool, doorman service, game room, office, laundry room, etc. But he does not want to deal with lower income groups. For example, he said that they were smoking weed, blasting loud music in the weight room, and throwing beer bottles and clipping their toenails by the swimming pool.
Not everyone wants to live in a house. I have zero desire to shovel, landscape, take care of a boiler, be flooded out, repair my roof, etc. all by myself.
I have a house and I do none of that. People come and do it for me and I pay them as needed.
Do they exist? This does not really apply to me as I plan to GTFO NYC asap next year when I stabilize my finances. But I was talking to a co-worker about this over happy hour and he mentioned that he was thinking of buying in NYC.
A new apartment building w/o Mitchell Lama, 80/20, Section 8, or any other kind of welfare/subsidized tenants who ruin the quality of life? If he is going to pay north of upper 6 figures for a NEW apartment then he does not want to deal with all the riff raff and gimme grants. Just 100% market rate neighbors.
You're joking right? There is a decent eff ton of market rate apartments rental, condo, and co-op that don't have welfare or whatever tenants.
Section 8 and voucher tenants (state and city) are a bit dicey because NYS and city mandate LL's accept such tenants. Only protection there is moving into a place were minimum rents are above max for subsidized rentals.
Oh and you'd likely want to avoid much new construction as they are 80/20 lottery "low income" and "affordable". You'd have to find a building developed "as of right" where tax breaks weren't needed so owners aren't forced to take welfare or homeless.
Not everyone wants to live in a house. I have zero desire to shovel, landscape, take care of a boiler, be flooded out, repair my roof, etc. all by myself.
That is why you pay people. Condo/co-op living is one step above apartment rental living.
Boilers last forever! I dont know why people think they are thibgs that need babysitting
Not everyone wants to live in a house. I have zero desire to shovel, landscape, take care of a boiler, be flooded out, repair my roof, etc. all by myself.
Who repairs a roof by themselves? Boilers maintain themselves, you can hire someone to shovel your driveway, hire landscapers to take care of your lawn and don't buy a house on the water and your chances of being flooded out significantly decrease.
The are pros and cons to owning a home and a condo/coop.I can't stand having to share a communal laundry machine with other people in my building or have to drag it over to some laundromat. I know there are a few people who actually have washer and dryer in their apartment but it is scarce. On top of that I don't want to have to deal with noisy people above or below me. I do not miss that at all. Parking is a huge PIA anywhere in the city. I love being able to park in my own driveway.
However there are nuisances with owning you own home. When stuff breaks it usually cost thousands to fix. Maintaining a house is a chore. If you want to save money you're going to have to learn to be handy.
He's renting now in midtown east. 30s and 2nd ave.
There are numerous older residential scrapers north and south of the UN area (not just Tudor City from the 1920s, that I occasionally mention as my possible future abode, but lots of other ones built within less than the last 50 years). Buying a unit requires approval of the housing association (ie, mostly the co-op board, since condo associations are not that common in NYC), and I am not aware that it is easy for riffraff to obtain such an approval. In the buildings that even allow rentals, tenants have to be approved too, and can be booted if they cause problems. I have not seen any riffraff in parks surrounding those buildings. Maybe someone who actually lives there can chime in, and say whether my impression is wrong.
Yea, this guy got spoiled with the amenities of his current place. Indoor gym, pool, doorman service, game room, office, laundry room, etc. But he does not want to deal with lower income groups. For example, he said that they were smoking weed, blasting loud music in the weight room, and throwing beer bottles and clipping their toenails by the swimming pool.
I am not an expert but I don't think I ever saw those people, even though they were probably in the building with me, except in the elevator, and even then...
This kind of guy always has a magical power that lets him read a person's income level right off their forehead.
And as we all know, only poor people smoke weed. *chuckles*
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