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When to walk away from that bargain condo or co-op

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In Case You Missed It: Every so often, BrickUnderground digs through the archives to find the best advice our experts have shared through the years.

If the price of that apartment seems too good to be true, it probably is. Here, the top reasons to avoid that low-priced co-op or condo like the plague:

An actual plague. Think bed bugs, mice, cockroaches and other uncontrollable vermin you do not want to be sharing space with.

Annoying neighbors. This includes, but is not limited to, a ground-floor restaurant that generates an overabundance of noise, odor and foot traffic; a metal sculptor living upstairs; a bordello operating downstairs; the hoarder next door, etc.

Construction. One side of the dwelling is about to be draped in scaffolding—or, worse, covered up permanently—thanks to the building project next door.

Higher monthlies. A major assessment and maintenance increase is about to go into effect.

For more red flags, read "11 reasons why that apartment is too good to be true."

Related:

Spot the hoarder next door—before an emergency

4 things to consider before moving in above a restaurant

A neighbor who won't stop feeding the building's wildlife? Evict 'em

Ask an expert: What is an "ongoing" assessment?

 

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