Co-op vs. condo vs. townhouse
What is the difference between a co-op, a condo and a townhouse?
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Co-op vs. condo vs. townhouse
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Re: Co-op vs. condo vs. townhouse
a co-op owns a part of your home and you need to get approval by the board before buying a co-op or selling one.
A condo you know 100%
A condo you know 100%
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Re: Co-op vs. condo vs. townhouse
I bought a book in Barnes & Nobles in the real estate section that was only about buying coops, condos and townhouses and explained a lot. I'm sorry I don't remember the title, but it was something along the lines of buying a coop, condo, and townhouse.
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Re: Co-op vs. condo vs. townhouse
Along with the other responses, also, with a condo or townhouse you usually get a little bit of property. Co-ops have a little more rules and regulations that townhouses when purchases (just from my experience). Hope that helps a little!
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Re: Co-op vs. condo vs. townhouse
Posted by kittyke
Along with the other responses, also, with a condo or townhouse you usually get a little bit of property. Co-ops have a little more rules and regulations that townhouses when purchases (just from my experience). Hope that helps a little!
Also, a townhouse/condo usually has a 'condo board' which will have rules about what you can do to the exterior of the home, and how the common areas can be used, but you can usually make renovations to the inside of the home without approval.
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Re: Co-op vs. condo vs. townhouse
With a co-op you own shares of the building.
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Re: Co-op vs. condo vs. townhouse
i think the major difference (as i understand it) with co-ops and condos...is that when you purchase a condo - you purchase that condo, whereas when you purchase a co-op, you are buying shares of the co-op community.
Either one has regulations on what you can do to the outside, but freedom to do whatever you want to the inside.
Co-ops are generally more strict, but you have to be approved to live there, so there is the hope that your neighbors all had to go through a screening process, and are therefore, good people to live near![]()
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Co-ops are also generally less expensive, I believe
Either one has regulations on what you can do to the outside, but freedom to do whatever you want to the inside.
Co-ops are generally more strict, but you have to be approved to live there, so there is the hope that your neighbors all had to go through a screening process, and are therefore, good people to live near
Co-ops are also generally less expensive, I believe
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Re: Co-op vs. condo vs. townhouse
There seem to be more co-ops than condos in Nassau, though Suffolk has a good mix. Townhouses seem to be condos that are duplexes--more like a house.
The co-op as everyone else said you own shares, and are governed by a board. The prices are generally less, but your monthly fees are more than condos (though included in your monthly fees are your taxes, maintenance, usually heat, hot water, sometimes electric).
In our condo our price was higher than comparable co-ops, our monthly fees in addition are $300, plus taxes, sewer charges, electric, etc. on top of that. Our common charges include only maintenance and heat/hot water. HTH.
The co-op as everyone else said you own shares, and are governed by a board. The prices are generally less, but your monthly fees are more than condos (though included in your monthly fees are your taxes, maintenance, usually heat, hot water, sometimes electric).
In our condo our price was higher than comparable co-ops, our monthly fees in addition are $300, plus taxes, sewer charges, electric, etc. on top of that. Our common charges include only maintenance and heat/hot water. HTH.
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Re: Co-op vs. condo vs. townhouse
Posted by nov04LIbride
There seem to be more co-ops than condos in Nassau, though Suffolk has a good mix. Townhouses seem to be condos that are duplexes--more like a house.
The co-op as everyone else said you own shares, and are governed by a board. The prices are generally less, but your monthly fees are more than condos (though included in your monthly fees are your taxes, maintenance, usually heat, hot water, sometimes electric).
In our condo our price was higher than comparable co-ops, our monthly fees in addition are $300, plus taxes, sewer charges, electric, etc. on top of that. Our common charges include only maintenance and heat/hot water. HTH.
you have sewer charges? I never heard of that...
i have a condo and no sewer charges...it is in the maintenence
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Re: Co-op vs. condo vs. townhouse
Posted by oct.2004bride
you have sewer charges? I never heard of that...
i have a condo and no sewer charges...it is in the maintenence
Yeah, it's like $84 every 2 or 3 months? I don't know if it comes from the town or county...
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Re: Co-op vs. condo vs. townhouse
There are some good books out there to give you more info. Check the library. Find out what the common charges cover. As you can tell by the posts developments differ, even when you compare condos (or co-ops). Our maintence only covers the water, exterior upkeep, pool, clubhouse/work out room(Small), playground, and tennis courts. It pays for the super. and any renovation projects to the outside. It does not cover heat (electric). Our townhouse/condo charges are $209.
