Yogi Berra once advised: “when you get to a Y in the road, take it.” So that’s exactly what Kay and I have done. Oh, you say—but how do you know where you will end up? We don’t, and of course, that’s exactly the point. Our Y in the road was the decision to relocate to Colorado and take residence in a brand-new sparkling co-operative. So, if you are not sure what life in a cooperative is about—neither are we, but we are going to share with you what we know in this essay.
First, the basics—a co-operative is not a condo nor an apartment complex, although it is close quarters living. You don’t buy or rent your living quarters—in our case 58 units in a three-story building. Rather, you become a member by purchasing a share in a mortgaged building. You are not an owner. Okay, I know that is difficult to grasp—think of it as an investment. Over time, your share will (More…)