What drawbacks might a co-op have over a house for a family of eight who are relocating to a new area and need to purchase a home?
A)More expensive to purchase
B)More expensive to operate and maintain
C)Less freedom to make changes and less privacy
D)No ownership of shares in the corporation

Question

Quizplus · Accepted Answer

A co-op typically has more restrictions on renovations and changes that can be made to individual units, and may have more shared spaces or common areas that reduce privacy. Additionally, ownership in a co-op often means owning shares in a corporation rather than a physical property, which may not be preferred for some families. However, co-ops may also have benefits such as lower maintenance costs and stronger community connections. A and B could also be drawbacks for some families, but may not necessarily apply universally. D is not necessarily a drawback, as some families may prefer the lack of ownership responsibilities.

What Drawbacks Might a Co-Op Have Over a House for a Family