Investing in a housing cooperative could be a rewarding various to the standard homebuying course of. However shopping for a co-op comes with explicit issues and penalties. This text will evaluation the professionals and cons of investing in a co-op so you may make an knowledgeable resolution. Is a co-op best for you? Let’s discover out.
What’s a co-op?
Co-op is brief for housing cooperative. It’s an alternative choice to dwelling or rental possession. It’s run like an organization and owned and managed by residents. The co-op owns the constructing, and residents personal shares of the co-op.