The down-low on co-ops.
August 31, 2006 6:05 PM Subscribe
Help my younger sister decide whether or not to buy a co-op apartment. There's some
posted by killdevil to Work & Money (4 answers total) 2 users marked this as a favorite
My sister is in her mid-twenties and is thinking about buying a relatively inexpensive apartment in a co-op building near Rock Creek Park in Washington, D.C. This would be the first place she's owned, and she's attracted to the idea foremost because she's not wildly enthusiastic about the prospect of throwing money at a rental apartment.
Neither she nor I know much about co-ops. How hard is it to sell a share in such a building relative to selling an apartment in a condominium? How well do such places hold their value relative to similar dwellings with more traditional ownership schemes?
What else should she be aware of as she contemplates the purchase? What should she know about co-ops and co-op living?