People wonder why Lexington Estates and Top of the Harbour in Oyster Bay NY is cheaper in price that the Landmark Colony or Mariners Walk in Oyster Bay NY. Buyers who can not afford to dish out $500,000 for a place to live in Oyster Bay without the worry of home maintenance have an alternative. They can buy a co-op. So the next question is:
What are the differences between a condominium, a co-op and a townhouse?
A condominium is where you own the actual structure of the building jointly with the other members of the association, along with common areas such as club house, swimming pools, tennis courts or other common areas. Individually, you own the airspace and interior of the structure, but not the building itself. You and the other members of the association own the structure together. In Oyster Bay NY, Landmark Colony and Mariners Walk are both condominiums.
A co-op is where you own shares of a corporation or organization that owns the larger structure, and ownership of those shares gives you the right to occupy a specific unit or apartment. Also in Oyster Bay NY, Lexington Estates and Top of the Harbour are both co-ops.
A townhouse is a style of construction, whereas condominium and co-op are types of ownership. A townhouse is basically a building or unit that shares a common wall with the building or unit next door. The walls are usually straight and entry is usually from the ground floor. Townhouses usually have two or more stories. A townhouse can be a style of condominium which is what we have at Mariners Walk in Oyster Bay NY.
For co-ops and condos for sale in Oyster Bay, NY as of Jan. 25, 2011 and co-ops and condos that have been sold in Oyster Bay, NY in 2010 and 2011, check the following blog posts:
http://activerain.com/blogsview/2099127/oyster-bay-co-ops-condos-for-sale-jan-25-2011
http://activerain.com/blogsview/2103621/oyster-bay-condos-co-ops-sold-for-period-jan-1-dec-31-2010
Copyright © 2011. By Rosalinda Morgan, "The Rose Lady". All rights reserved. *WHAT ARE THE DIFFERENCES BETWEEN A CONDOMINIUM, A CO-OP AND A TOWNHOUSE?*
Check the links below for more information on:
If you are interested in selling or buying a home in Brookville, Muttontown, Oyster Bay, East Norwich, Oyster Bay Cove, Syosset, Laurel Hollow, Bayville, Centre Island and Mill Neck, please call for more real estate information -
Rosalinda Morgan, "The Rose Lady", Brookville NY Real Estate Professional
Licensed Associate Broker
Address: 6336 Northern Blvd., East Norwich, NY, 11732
Pick up the phone and call today!
Cell Phone: (516) 385-0584
Email Me - rosalinda@rosalindamorgan.com
Visit my website - www.rosalindamorgan.com
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