The Market

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

By Jennifer Laing | November 20, 2014 - 2:59PM 

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?

 

Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.
topics: