Maintenance: How high is too high?

[Xemu]

I read in the Times this weekend that average maintenance for coops in NYC is $1.50 psf. I'm really like a place but the maintenance is about $1.75 psf. Deal breaker?

[Ninjahedge]

"Average" is misleading as well.

I never liked Averages. I would actually like to see the coop boards financial sheet and see where the $$ is going before I opted to buy something like that, but I do not know how many would volunteer that information...

[Xemu]

I see your point Ninja. You can't just compare the numbers to the average like that. The information you're talking about though; isn't Property Shark a good place to find that kind of stuff?

[Schadenfrau]

What do you get with the maintenance?

I'm pretty sure that co-ops do have to provide their financials. Have an expert look it over before you make any decisions. It's better to buy into a building with good financials and a slightly higher maintenance than it is to cheap out and find trouble down the road. You'll need something in the coffers when the boiler blows.