Buying a home is likely the largest purchase you will make during your life time. Unlike...

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Buying a home is likely the largest purchase you will makeduring your life time. Unlike any other type of purchase, homebuying is typically an involved, long process that may take monthsto complete. A significant amount of research, learning, andnegotiation takes place during that process.

As part of your overall financial planning for the future, youstart exploring the idea of home ownership. During this process youlearn more about home ownership options and sources of funding.Research your preferred neighborhood real estate market and explainthe difference between a coop, a condo, and a house. Also, detailthree different types of mortgages and explain which type of realestate and mortgage would be best for you. What are your 5- and10-year goals that will get you closer to achieving your goal ofhome ownership? Be specific and use actual numbers reflectingcurrent market state and your financial plan.

themarket price for real estate in the throngs neck neighborhood is$500,000.

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Cooperative apartments coops differ from condominiums condos in several ways When you buy a coop you buy stock in the corporation that owns the apartment building The building then leases the coop to the buyer under a longterm proprietary lease Coop owners pay monthly maintenance to the building corporation for items such as the expenses of maintaining and operating the building property property taxes and the underlying mortgage on the building if any When you buy a condo you buy an individual parcel of real property like a house or townhouse The condo building is divided into individual See Answer

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Buying a home is likely the largest purchase you will makeduring your life time. Unlike any other type of purchase, homebuying is typically an involved, long process that may take monthsto complete. A significant amount of research, learning, andnegotiation takes place during that process.As part of your overall financial planning for the future, youstart exploring the idea of home ownership. During this process youlearn more about home ownership options and sources of funding.Research your preferred neighborhood real estate market and explainthe difference between a coop, a condo, and a house. Also, detailthree different types of mortgages and explain which type of realestate and mortgage would be best for you. What are your 5- and10-year goals that will get you closer to achieving your goal ofhome ownership? Be specific and use actual numbers reflectingcurrent market state and your financial plan.themarket price for real estate in the throngs neck neighborhood is$500,000.