What are the differences between buying a condominium or a co-op apartments in terms of rights prices and taxes?

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1063787

2026-07-23 16:15

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Depending on the state where the property exists, and depending on the legal status of the two different kinds of real estate ownership, there could be differences in prices and taxes, and rights. Usually, for a condominium, an owner owns all the 'real estate' from some point in the walls inward: studs, sheetrock, paint, etc. Then the condominium association owns everything from that point outward: roofs, siding, pavement, landscape, common areas, etc.

Usually, for a co-op, a buyer buys shares of ownership depending on the square footage of the unit involved, and cooperatively owns that percentage of the total real estate assets.

Consult your local laws for differences in taxes, your local real estate expert for differences in prices, and the separate governing documents for rights.

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