5,104,931
It has nothing to do with better, it has to do with what type of property is available for purchase. Many cities don't have cooperatives. And if you can't pass a coop board and provide serious financials to them, you probably don't want a coop.
I grew up in NYC and always owned a coop there and I like that form of ownership because I know my neighbors are totally vetted for financial solidity versus a condo. But that's me...
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Michael Jacobs
Pasadena, CA
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Anthony Acosta - ALLAT...
Atlanta, GA
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Inna Ivchenko
Encino, CA
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Ron and Alexandra Seigel
Carpinteria, CA
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Pete Xavier
Pacific Palisades, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Julie Larson Realtor® ...
Sarasota, FL
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Roy Kelley
Gaithersburg, MD
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Kevin J. May
Hobe Sound, FL
613,494
Condo only for me.
I put co-op's at the bottom just above time shares. There is a reason that they are cheaper than condo's.
Eve
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Michael Jacobs
Pasadena, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Julie Larson Realtor® ...
Sarasota, FL
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Roy Kelley
Gaithersburg, MD
900,008
There is no question for me - would never own a co-op again! Look up the legal differences and figure out why. Co-ops are a lot riskier.
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Julie Larson Realtor® ...
Sarasota, FL
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Roy Kelley
Gaithersburg, MD
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Corey Christiansen
Saint George, UT
1,153,794
There are both good and bad cooperatives and condominiums. Like anything else knowing what you're purchasing is the key and whether it's a good fit for you.
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Michael Jacobs
Pasadena, CA
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Pete Xavier
Pacific Palisades, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Julie Larson Realtor® ...
Sarasota, FL
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Roy Kelley
Gaithersburg, MD
7,835,293
They are different forms of ownership. It is not a matter of being better.
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Michael Jacobs
Pasadena, CA
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Kasey & John Boles
Boise, ID
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Kathleen Daniels, Prob...
San Jose, CA
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Julie Larson Realtor® ...
Sarasota, FL
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Nina Hollander, Broker
Charlotte, NC
1,466,207
Corey Christiansen Both have advantages and disadvantages. It also may depend on where you live. In my County there are no co-ops. The bigger issue is know what you are buying. Do you want shares in a corporation or ownership in a unit.
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Michael Jacobs
Pasadena, CA
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Kasey & John Boles
Boise, ID
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Nina Hollander, Broker
Charlotte, NC
2,061,392
They are merely different forms of ownership.
Some people prefer condos, and some prefer co-ops. It all depends on what you're looking for.
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Michael Jacobs
Pasadena, CA
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Kasey & John Boles
Boise, ID
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Nina Hollander, Broker
Charlotte, NC
5,772,575
Corey,
Nina Hollander gave you a great answer, and it is a matter of preference. A
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
2,781,013
if one has to make it work...both are doable
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
1,712,676
No coops around here so condo wins.
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
5,048,728
What's better depends on the buyer and the situation since they are different entities
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
3,344,906
Condominium for me personally. Others have reasons for a coop preference as Nina Hollander mentions in her comment.
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
1,045,440
I am really confused lately I keep seeing very old questions sometimes anyone know why? Hope you found your answer but I doubt anyone will see my answer since the question is so old
4,800,082
3,071,489
4,319,419
Corey Christiansen - for me? None!
For buyers? They decide what is good for them - and I am with them.
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Michael Jacobs
Pasadena, CA
2,684,009
3,986,258
4,272,548
We don't have very many co-ops in Washington State so I would say Condominiums...
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Michael Jacobs
Pasadena, CA
6,392,899
Both suck, but only one of them involves owning real estate.
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Michael Jacobs
Pasadena, CA
1,543,235
2,220,323
3,416,038
We do not really have any true co-ops here in NH and I sure love condos
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Michael Jacobs
Pasadena, CA
3,988,007
They are similar in many ways but different. I live in neither so don't have a personal choice.
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Michael Jacobs
Pasadena, CA
5,583,278
we only have condominiums in my marketplace.... co-ops in Boston.... I'm in "cow country"....
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Michael Jacobs
Pasadena, CA
5,216,284
Depends on your preferences and availablity of a co-op. Co-op can exercise much more control. Condominium most likely easier to sell!
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Michael Jacobs
Pasadena, CA
5,229,328
They are very different - to each his own!
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Michael Jacobs
Pasadena, CA
711,752
We don't deal with co-ops in our market, but do condominiums. I would have to be educated on co-ops before dealing with these.
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Michael Jacobs
Pasadena, CA
1,622,432
Better for what? They both offer certain cons and pros of ownership and it is up to the potential buyer to decide what is better suits his/her needs and budget.
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Michael Jacobs
Pasadena, CA
1,725,996
This depends on too many factors, most subjective, some based on cost. What does your teacher say?
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Michael Jacobs
Pasadena, CA
5,005,333
There are different forms of ownership. It all depends on what you're looking for, some like condos, and some prefer co-ops. No good or bad, right or wrong.
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Michael Jacobs
Pasadena, CA
292,685
I just showed a coop and explained these differences . Coop financing can be limited to a few lenders . Larger down payment requirements for coop
Higher assessments due to property taxes rolled into HOA .
Appreciation less for coop. Owner occupancy requirement
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Michael Jacobs
Pasadena, CA
1,157,785
It depends on the goals and objectives of each individual.
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Michael Jacobs
Pasadena, CA
809,258
I dont think we have co-ops here except for in the form of local grocery markets. -Kasey
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Michael Jacobs
Pasadena, CA
1,239,801
depending on dues, CC&R and appreciation rates in your area.
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Michael Jacobs
Pasadena, CA
151,633
The only co-ops that I've seen in our area are for mobile home parks. I've not sold a co-op before, only condos.
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Michael Jacobs
Pasadena, CA
4,434,127
599,274
1,617,916
4,571,881
It is not a question of better but of personal choice as well as what may be available in a particular location.
1,502,868