Q. How do Housing Co-operatives differ from Condominiums?

A. In condominiums each resident owns his/her own home and is free to sell the home at current market value. Co-operatives are managed by their Members, collectively, and because of the non-profit aspect, monthly housing charges are usually less than monthly mortgage payments & condo fees. Philosophically, co-operatives thrive on loyal Membership, which encourages interdependency on many levels.