When choosing a house or apartment in Florida, you need to understand the specifics of the local market. What is a condominium and how is it different from a cooperative?
What requirements do local HOAs have for buyers? In what case can a foreigner be refused a transaction? And what will determine the size of utility bills? What awaits future property owners in one of the most popular US states?
There are four types of residential properties you may encounter in Florida real estate listings:
- single family house
- condominium (condo or apartment in an apartment building),
- townhouse
- cooperative (co-op)
It is important for buyers to understand that condos, townhomes, and co-ops are in an owner’s association. This means they obey its laws. A private house may also qualify as this, but this is rather an exception to the general rule.
