Which Kind of Property is Right for You?

When it comes to starting your actual NYC apartment or house search, a good way to narrow down the list is determining which kind(s) of property is right for you. Some buyers won't be eligible for certain types of properties and other buyers just aren't a good fit.

Most owner occupiers will opt for co-ops because they are significantly cheaper than condos. While perfect comparisons are impossible because all new buildings are condos, broadly speaking, co-ops will cost 20-30% less than a condo. On top of that, buyer closing costs will be significantly lower for co-ops. For more information on buyer closing costs, check out this blog post - - and Yoreevo's buyer closing cost calculator -

However there are many kinds of buyers for whom it's tough to buy a co-op. Buyers looking for a pied-a-terre or to put 10% down, foreigners, and investors are all going to be restricted to a small subset of the co-op buildings and likely will end up buying condos or houses instead.

For more information about the pros and cons of each property, we have a blog post comparing condos and co-ops -

There are a lot of puts and takes and exceptions to the statements above so please email me, James McGrath, Co-Founder of Yoreevo at james@yoreevo.com and we can set up a time to run through which type of property is best for you.

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