What's the difference between a condo and a co-op?

Answer 1

The biggest difference is that you actually buy and own the unit with a condo and it can be registered with the local government that you own that particular unit. A co-op on the other hand you actually buy shares that allow you to live in a particular unit of the building that the co-op all together owns.

It is often cheaper to buy a co-op than a condo, but you will likely not notice much of a difference once you are acutally living there. Both condos and co-op's have boards of directors that help keep them running smoothly and both also have annual general meetings that everyone who lives there is invited to and encouraged to attend.

Check with a local real estate agent to see if there are any specific differences between the two in your area.

Answer 2

A "Condo" is a dwelling, shortened from Condominium,,,IE: Glorified, owned, apartment.

CO-OP is what it is. A group or organization that has SHARING in mind,,, CO-OP meaning "Cooperation"

Rev. Steven