Photo by PoPville flickr user Rukasu1
“Dear PoP,
I am a first time home buyer from the Ohio farm lands. I have living in DC for about 18 months and I am finally looking to buy a condo, but I have a question; what is the difference between a condo association and coop? I have not heard to much about either, so I would love to hear some experiences from the readers.”
I know folks have spoken about this before. Simply put, a condo is when you purchase your unit and a coop is when you purchase a “share” of the building. Does anyone know what the pros and cons are of purchasing a coop vs. a condo?