The cooperative form of housing proliferated in New York City since its inception in 1920. It is the most common housing option for low and moderate income earners and wise investors who are taking advantage of the leveraged financing.
The purchase price of coop housing is low, the building mortgage is less, and the cost of repair and maintenance is relatively reduced compared to condominiums and single family homes because the owners or shareholders partake in these expenses, thus deliberately decreasing all costs. The pooling of the owners’ resources is the primary advantage of this type of housing.
The common charges may include maintenance fees which are used to fund the operation of the coop housing. It also includes the mortgage fees and other monthly charges required by law.
Why rent when you can own? Live smart and check out the reasonably priced coop homes for sale in Long Island, New York. Below is a list of five affordable coop housing options which is also available in li realestatefinder.
Deluxe Property in Selden
Price: $79,000 – $134,990
Property ID No. 2511996
Built in a convenient location, this property has easy access to shopping and transportation facilities. It features two large bedrooms, a full bathroom, a furnished eat-in kitchen, a living room, and a balcony with a perfect view of the woods. The appliances and utilities available are refrigerator, stoves, heaters, and centralized ACs. A smoking area is provided and pets are allowed. Owners can enjoy community facilities such as a swimming pool, a children’s playground, and Laundry Rooms. The monthly maintenance charges include gas, heat, hot water, sewer, electricity and laundry rooms’ maintenance. The common charge for this property is only $926 per month.
Gated Community in West Babylon
Property ID No. 2545710
Tired of chasing the best deals on homes for sale in Long Island, New York? The answer you’re looking for is right here. This gated community allows smoking and pets in the area. It features a huge studio, an alcove bedroom with walk-in closet, a full bathroom, a neat kitchen, a basement, and dining room. This property provides for appliances and utilities such as washing machines, dishwashers, refrigerators, stoves, and heaters. Gas and sewer maintenance are also provided. It has a play yard for parent-children bonding. The common charge is only $663 per month.
Remodeled Coop in Port Jefferson Station
Property ID No. 2578765
Built in 1970, this deluxe coop housing has access to major highways. It is conveniently located near stores, hospitals, schools, and beaches. This property features two large bedrooms and a bathroom with clean interior. It has an efficient kitchen, a dining area, and a massive living room. To update its interior, the kitchen was remodeled, new carpets were installed in the bedroom, living room and dining room, and new windows and AC sound-proof walls were constructed. Appliances available are washer, dryer, refrigerator, dishwasher, and stoves. Additional features are a two-car parking area and community pool. The maintenance fee includes heat, water, cable, and gas which are 61% tax deductible. The common charge is $820 monthly. This property is a remarkable choice from the list of homes for sale in Long Island, New York.
Hempstead location near the Train Station
Property ID No. 2552080
Within a walking distance from the Train Station, this property suits train commuters best. It features a large bedroom with closet and a neat tiled bathroom. Nestled in a quiet street, an afternoon tea in the bedroom terrace makes this property a remarkably relaxing retreat. Its functional kitchen looks stunning through its granite counter tops and softwood cabinets. It has a spacious dining room and living room. Pets are welcome in this warm community. For those whose car is a necessity, there is a provision of parking area with $20 monthly charge. The appliances and utilities available are refrigerator, dishwasher, stove, heater, and sewer maintenance. This property’s monthly common charge is only $878.