Living in New York City is one of the most exciting things in the world until you get fed up with renting. Most people rent their condo or apartment unit because they have uncertain financial futures or want the ability to move around a little easier. However, when it’s time to settle down, you aren’t likely to find a house, which means apartments for sale in Manhattan are the next best thing.
Not Considered An Apartment
The difference between an apartment and condo/co-op unit isn’t much. In most cases, the term co-op refers to the age of the building. Condos are usually newer, and co-ops are often built before the 1980s. Co-ops are owned by a corporation, and you receive a share in the company. Condo/apartment owners receive a deed to a particular unit on the property.
Both versions require you to pay taxes and usually have HOA fees attached, along with the mortgage payment. Likewise, co-ops may be harder to get into because they have stricter rules on who can buy from them.
Fits Your Lifestyle
Apartments for sale in Manhattan aren’t going to have as strict of rules, though you will still need to follow what rules there are. For example, you may have more leeway in inviting guests over, and because the building is built with noise in mind, you may find it easier to play music and television louder than in older buildings.
Reap The Rewards
The apartment itself is likely going to have all the finest equipment and options, but that’s not where the excitement ends. Because you are considered part of that community of people owning their apartment within the building, you’ll have access to all the amenities, including pools, fitness centers, theaters, and whatever else they’ve got.