Private Condo/Unit in Community

Private Condo/Unit in Community
A condo unit provides ample space for a family or roommates in a shared ownership community. Co-op ownership means purchasing shares in the community, giving you exclusive rights to occupy the unit while sharing communal responsibilities and benefits.
Key Details
Pros: Affordable Entry Costs: Lower initial costs compared to buying a traditional condo Commuinty Oriented Living: Shared spaces foster strong neighborly connections Equity Growth: Ownership allows for equity buildup over time		Cons: Restrictions: Co-op boards may require approvals for renovations or subleasing Shared Decision-Making: Major decisions are made collectively, which limits individual control Monthly Fees: Maintenance costs and other fees may be higher due to shared amenities
Best For: Families or individuals seeking a more spacious, community-focused living arrangement at a manageable cost. Summary of Total Initial Costs Range Budget-Friendly: $100,000–$350,000 Mid-Range: $350,000–$725,000 High-End: $740,000 and above
Sample Monthly Breakdown
Cost Item	Budget-Friendly	Mid-Range	High-End
Mortgage Payment	$800–$1,800	$1,800–$2,800	$2,800–$4,800+
Utilities	$100–$275	$275–$375	$375–$500+
Property Taxes & Insurance	$100–$200	$200–$600	$600–$1,250+
Community Fees	$200 - $400	$400 - $800	$800 - $1,200+
Sample Monthly Total	$1,200–$2,675	$2,675–$4,575	$4,575–$7,750+