Virginia K. Smith

Every co-op dweller knows that if you stop paying your maintenance fees, you risk eviction, end of story.

No one wants to live in the middle of a dusty, noisy construction zone, but then, no one who's shelling out for a renovation is dying to drop extra cash relocating while the work gets done, either. Another dilemma to add to the mix? While staying home for a reno gives you a chance to keep an eye on your contractor, some construction experts say the work will go much faster (and save you money) if crews aren't trying to tip toe around a family that's still in residence.

Looking to buy on a budget of half a million dollars? Even in today's crazy market, it can still be done, and we've combed the listings for options in all five boroughs, from a Battery Park City studio to an old-school uptown co-op to a waterfront getaway right on Rockaway beach.

We'd all like a piece of New York's sky-rocketing real estate market—it's the least we could get in exchange for paying such exorbitant rents, after all—and a new site, Sharestates, aims to lets residents do just that, by investing in new properties for as little as $100 per share.