What To Look For In A Co-op Building

Before you go out to find a co-op you need to know what your needs are and what you should look for in a co-op building. It is good for you to take a note pad and a camera so you can keep accurate records during your search. Remember, that a co-op is not an apartment, but an investment that you have to handle and select with care.


It is important that you select a neighborhood and a cooperative that fits your lifestyle and needs so you can enjoy living there until you're ready to move, if ever. Also, if you choose to sell your co-op unit it is vital that you select a cooperative and area where people will want to purchase. Here are a few things you should consider before beginning your search:


Area: The area you select should be desirable. You should make sure it is a nice looking neighborhood with well kept properties, preferably more residential than commercial, and low crime rate. If you have kids or have plans to make sure there are schools nearby, transportation and convenience shops.


Exterior of the Building: Before walking inside the building check to see the condition of the outside. See if the building is level, large cracks in the exterior walls or ground area, if it's clean from debris and garbage, is the garden well maintained if any, flooding problems (go back on a rainy day), updated windows, fire escapes and handicap accessible if necessary. The outside of the cooperative is just as important as the inside.


Co-op Owners: If you happen to see co-op owners coming in or out of the building or on the elevator, ask them how they feel about living in the building.


Security: If you plan to live in a large co-op building see if there's security cameras in the lobby, elevators, laundry room and in the hallways. Also, if there's a doorman, find out the work schedule. You can also ask the doorman questions about the building, they will usually give you plenty of information. You may want to try visiting the building and getting in to see what procedures the doorman will take. Also, see if the doors are strong and remain locked and the bell system is working.


Lobby Area: Your lobby should be pleasing to the eye. Take a look at the flooring, the bell system, paint job, walls and decoration. Also, see if you notice people hanging around the lobby, making noise etc.


Elevators: Make sure the elevators have been updated, clean and have a security camera.


Hallways: The hallways and doors should be freshly painted, nicely done flooring with tile or clean carpet. Plus the hallways should be bright and well lit.


Parking: If parking is important to you find out how much it costs per month and if there's a waiting list.


Laundry Area: It is common for co-op buildings to have laundry rooms in the building. If one is not in the building, then you should find out if there's one within walking distance.


Recreation Area: Most co-op buildings have a common area that is used for gatherings, parties, etc. that is usually free to co-op owners.


Storage Area: Many co-op buildings have additional storage available for rent in the building.


Other Bonus Amenities: Tennis, pool, gym, professional business services


Now that you know some basics of what to look for in a co-op building, now you need to know what to be aware of during the home buying process. I found a great source that will help you ease your fears and to make great decisions from beginning to end. Click here to check out this great ebook called, "Home Buying Defense Guide".


Print this list and carry it with you so you can make notes about each property you view. Also feel free to share this link with your friends and family on your Twitter and Facebook pages.


*Did this article help you to know what to look for in a co-op building? If you're looking for a co-op in Brooklyn, New York where I practice real estate contact me by email.