Thinking of buying a unit at a condo or co-op? These options tend to be more affordable than freestanding houses. In some areas, they’re the ordinary person’s answer to the challenges of today’s real estate market.
As a unit owner, you’re part of a homeowners’ association (HOA) or co-operative. Both have boards that run the properties. Condo owners often want a say in property management, while co-op owners value this voice in decision-making. So, as to the decision-making process that keeps a property running, you’ll likely want to show up, and interact.
You might like to go to social events and befriend your neighbors, too — but you don’t have to. The decision’s yours. So, before you buy into multi-unit living, you might wonder about just how social the owners are where you’re planning to live.
Read on for some frequently asked questions about living in a multi-unit community.Continue reading “If I Buy a Condo or Co-op, Do I Have to Interact With the Other Unit Owners?”