fromRedfin | Real Estate Tips for Home Buying, Selling & More
4 days agoWhat Is the Difference Between a Co-op and a Condo?
A condo means you own a specific unit and a share of common areas.
A co-op means you own shares in a corporation that owns the building, granting you a lease for your unit.
Financing for co-ops can be more complex due to the share-based ownership.
Condos generally offer more freedom in terms of unit modifications and rental policies.