HDFC's have been touted the best deal in Manhattan real estate, in a traditionally not very affordable housing market. It's true. Take a look http://ezinearticles.com/?HDFC-Coops---The-Best-Deal-in-New-York-City-Real-Estate?&id=2267922. Maybe you have never even considered BUYING instead of RENTING in a place where demand always excees supply, maybe you thought prices and maintenance charges were astronomical.
Well, I am here to tell you, it isn't so! Not only are prices and maintenance fees low and affordable in HDFC's but your purchasing power is greatly enhanced with low interest rates. And there is Down Payment Assistance available to help with the upfront money you will need.
Let's take a look at the facts:
$1190 is the average price sq ft for Manhattan co-op's/condos.
$484 is the average price sq ft for $242,000 for 242 W 112th Co-op. Less than HALF the average!
But what about astronomical maintenance fees?
$1.76 is average price sq ft for Manhattan co-op's/condos in 2010 (1 YR AGO)
$0.61 is average price sq ft for this co-op sale, OVER $1 LESS THAN THE AVERAGE!
Many similar sized Co-op's in the surrounding area ae $400-900/monthly!
$307/Monthly Maintenance is Unbeatable!
So what are you waiting for, jump on the homeownership train! And if you aren't ready to buy yourself, refer someone and get a little cash reward. I will even sweeten it with some homemade cookies! Just sayin'!
Time to take the challenge!
