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Our board is evaluating a co-op purchase application and many of us are new to this.
One thought is that we would like to see an income to housing ratio of no more than 28% with liquid assets after closing of, at least 1 and a half times yearly housing costs (mortgage and maintenance).
Is this a good yardstick?
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visit habitat uHabitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
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learn moreLearn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments
Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise
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