Definite asset.
-I purchased my co-op 10 years ago and I have around 300k in equity. (talk about timing the market)
- My monthy Maintainence has gone up around 40%....much of it real estate tax/worker's salaries/oil costs skyrocketing. My mortgage is almost exactly half as much as my monthly Maintainence cost.
- The co-op is comprised of 7 pre- 1940 constructed buildings surrounded by English gardens. It's quite lovely and in a very desireable area of NYC (a block to the subway...25 minutes into Midtown)
-The co-op is extremely well-managed both financially and asethetically. We have lots of professional designers, engineers, accountants on the co-op board and they have done a marvelous job increasing the value of the property
So, yes, my home is an definite asset.
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