Are You a Co-Op or a Condo Diva Dweller?

The Lorington - Fab Living by Cal Anderson Park — The Lorington – Fab Living by Cal Anderson Park

Let’s first get some definitions out of the way. A Co-Op building is not the same as a food Co-Op or one of those fancy co-housing situations that are popping up in the Bay Area. A Co-Op is a was of describing a building that is vintage special. Back in them old fashion days folks bought buildings and created shares within the building for their individual units. Whereas in these new fangled days a developer builds building and incorporates it as a Condo. You own the walls-in. In a co-op you are part of a shareholder group for the entire building. Go it?

Divaland gets a ton of calls from folks who are interested in our co-op listings. The price point and vintage charm is like tasty sparkly bait for many a first timer here on Capitol Hill. Yes – co-ops are cheaper. And yes – they are typically in vintage buildings. But they do have some restrictions.

We created a handy little checklist so you can see if you are a co-op or a condo Diva Dweller.

	Condo	Co-Op
1 – Love vintage charm?
2 – Want onsite secure parking?
3 – Want your taxes included with your HOA Dues?
4 – Do you like getting your Fitbit steps in by avoiding elevators at all costs?
5 – Do plan to turn your first time Diva Dwelling into a long-term rental investment?
6 – Do you live minimally and need very little kitchen space?
7 – Want to be close to the new light rail station?
8 – Do you want a washer/dryer inside your Diva Dwelling?	*
9 – Do you want someone else to manage the day-to-day operations of your Building?
10 – Do you enjoy decision making, long term planning, and maintenance plans to be decided on by group agreement?
11 – Does it make you excited to meet, be interviewed, and chat building with a good portion of your neighbors before closing on your home?
12 – Do you want to live someplace for more than five years before selling?
13 – Do you like the fact that you do not have to pay excise tax when you sell your Diva Dwelling?
14 – Do you want to pay a great entry-level price in a really well managed building in in Seattle’s most walkble neighborhood?

As you can see there are some awesome things about calling a co-op home. Co-ops are truly unique living experience for many folks on Capitol Hill. Lots of people love the walkablity, general high quality of care that many of the residents show their buildings, and the fact that you are buying into a community and not just a building.