Low-Cost Home Ownership (Strings Included)

(WSJ) — In Brooklyn, where the average price of a co-operative apartment is about $300,000, Tricia Bradley is getting the bargain of a lifetime. A few weeks ago, Ms. Bradley completed the purchase of a newly renovated, three-bedroom co-op in a prewar building for a total of $2,500.

“This is the first home I’ve ever owned,” said the 41-year-old single mother, who will share the apartment with three of her four offspring still living at home. Ms. Bradley said the apartment is “something to leave to my children.” The apartment comes without a mortgage, although Ms. Bradley will pay co-op fees of $986 a month.

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