Author My First Apartment
Seija Goldstein

Seija Goldstein is My First Condo's General Manager and occasional blogger. She is a business consultant to media companies, and a long-time shareholder in a large New York City co-op. She has survived both kitchen and hallway renovations and is about to redo couple of bathrooms.
It’s Cheaper to Own Than Rent: Should You Buy a Condo Now?
It’s Cheaper to Own Than Rent: Should You Buy a Condo Now?

It’s Cheaper to Own Than Rent: Should You Buy a Condo Now?

  |   By AuthorMy First Apartment
It is now better to own than to rent in ALL of the 100 largest metro areas. According to an analysis by the real estate site Trulia, it’s 38% cheaper to own (including mortgage, insurance, taxes and maintenance) than to rent. There are two key reasons for this amazing advantage: 30-year fixed mortgage rates are…
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Be a Smart Co-Op Buyer: Know the Terminalogy
Be a Smart Co-Op Buyer: Know the Terminalogy

Be a Smart Co-Op Buyer: Know the Terminalogy

  |   By AuthorMy First Apartment
You might be an inexperienced, first-time co-op buyer, but nobody needs to know that if you study the co-op terminology before meeting with your broker. To help you decipher all the terms, the National Association of Housing Co-operatives has put together a complete co-op glossary.  You’ll learn the difference between FHA (Federal Housing Administration) and HFA (Housing Finance Agency)…
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Bloggers Wanted!
Bloggers Wanted!

Bloggers Wanted!

  |   By AuthorMy First Apartment
My First Condo wants to hire two bloggers who are looking to buy their first condo or co-op. We’d like you to write about the whole process, from the start of the search through closing. You should plan to write updates about your progress at least couple of times a month. We pay $30 a post. If you…
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You Must Check Out This New Buy vs. Rent Calculator
You Must Check Out This New Buy vs. Rent Calculator

You Must Check Out This New Buy vs. Rent Calculator

  |   By AuthorMy First Apartment
New York Times has just published an excellent  buy versus rent calculator that every first time condo buyer should check out.  It is simple to use and you can easily adjust the assumptions to your specific situation. The calculator covers all key elements that should go into the purchase decision, including: Purchase price How long you…
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How Much Should You Budget for Co-op Closing Costs?
How Much Should You Budget for Co-op Closing Costs?

How Much Should You Budget for Co-op Closing Costs?

  |   By AuthorMy First Apartment
Our recent post outlined the typical condo closing costs that run from 2-5% of the purchase price.  As a co-op buyer you are in luck; your costs will be much lower.  While the actual costs vary by market — with New York City being at the high end — you’ll find similar items in your co-op closing costs wherever you are buying. For…
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How Much Should You Budget for Condo Closing Costs?
How Much Should You Budget for Condo Closing Costs?

How Much Should You Budget for Condo Closing Costs?

  |   By AuthorMy First Apartment
Congratulations!  You’ve saved diligently and your dream condo down payment is within sight.  You are all set to start looking for a place when you visit your friendly neighborhood mortgage loan officer and find out that you need to save a little bit longer, to cover your condo’s closing costs.  There costs vary by location,…
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Limited Equity vs. Market Rate Co-ops
Limited Equity vs. Market Rate Co-ops

Limited Equity vs. Market Rate Co-ops

  |   By AuthorMy First Apartment
When people think about a co-op living, they have visions of stately old buildings with an impressive-sounding name like El Dorado or Dakota or River House, where billionaires and celebrities live.  And yes, that is one small part of the 1.2 million apartments in the co-op real estate marketplace. Those high-end buildings all fall into…
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Reviewing the Condo Association’s or Co-op Board’s Meeting Minutes
Reviewing the Condo Association’s or Co-op Board’s Meeting Minutes

Reviewing the Condo Association’s or Co-op Board’s Meeting Minutes

  |   By AuthorMy First Apartment
Condo associations and co-op boards are required to record in written notes, called meeting minutes, all important actions taken and major building issues reviewed during their monthly board meetings and the annual member or shareholder meetings.  A review of these minutes for the previous couple of years is part of the customary due diligence conducted…
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What is a Buyer’s Broker and Should You Have One?
What is a Buyer’s Broker and Should You Have One?

What is a Buyer’s Broker and Should You Have One?

  |   By AuthorMy First Apartment
When you start looking for your first condo you hear about listing brokers and buyer’s brokers and dual agents.  So, what does all of this mean to your condo search? When you visit an open house, the person who shows the apartment works on behalf of the seller. He can be the listing broker, or in legal terms the…
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