What’s the Difference Between a Condo and Co-op?

Are you finding the distinction between a condominium and a co-op confusing? Don’t worry, you’re not alone. While they may appear similar on the surface and offer comparable amenities, there are significant differences, especially in the realm of purchasing and selling.

Both options have their merits, but determining the right fit for you is key. Here’s a friendly breakdown:

Historical Background:

  • Co-op: Once exclusive to the wealthy, co-ops now offer affordable housing, often through conversions from rental buildings. They can be found across various income brackets.
  • Condo: Many new residential developments opt for condos due to easier financing and quicker sales, often fetching higher prices than co-ops.


  • Co-op: You buy shares in a corporation that owns the entire property, entitling you to live there. Your apartment’s size and location determine your shares and purchase cost.
  • Condo: You own your unit outright, akin to a single-family house, while also sharing responsibility for common areas.

Monthly Fees:

  • Co-op: Monthly fees cover building maintenance, including property taxes and any underlying mortgage. These fees can be tax deductible.
  • Condo: Owners pay association dues for building maintenance, but handle their own property taxes.

Buyer Requirements:

  • Co-op: Prospective buyers are screened by the board for financial viability and willingness to comply with association rules.
  • Condo: Buying is similar to purchasing a house; no board approval required.


  • Co-op: Financing options are more limited due to the nature of ownership, with slightly higher interest rates.
  • Condo: Traditional mortgages are available, including FHA financing for eligible properties.

Selling & Renting:

  • Co-op: Board approval is needed for sale, and renting may be restricted.
  • Condo: Owners have more flexibility in selling and renting, though restrictions may apply.

Buyer Beware Tips:

  • Co-op: Ensure the property is financially sound and review all relevant documents carefully.
  • Condo: Similarly, thorough due diligence is crucial for wise investment.

Quick Take-Away: Both condos and co-ops have their pros and cons, depending on your goals and finances. Remember, you’re not alone in this decision. I’ve assisted numerous clients in navigating both types of purchases and can help you too. Feel free to reach out when you’re ready to discuss further!

Hi there!

I'm Morgan and I love helping professionals in the aviation industry make their move to Atlanta as smooth as a greased landing.  Whether its relocation, buying for the first time, or selling luxury and aviation real estate properties, I can help you transition smoothly.  

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Hi there!

I'm Morgan and I love helping aviation industry professionals make the move to Atlanta through relocation, buying for the first time, or selling luxury and aviation real estate properties.  

schedule your free consultation


My Listings


All Articles

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