Next, you can buy a cooperative apartment (a ‘co-op’). You’ll have to disclose your personal finances and life’s history to a group of total strangers, and live according to a set of buidling rules that, for many, seem onerous and downright unneighborly.

That’s why a condo can be a smart purchase and terrific investment. In most cases, the only thing that matters is whether you can get a mortgage buy the apartment. No onerous co-op board package to fill out; no having tell a set of complete strangers how much money you have, where it all comes from, what you think about fur coats, and other politically charged questions. Condos give you more privacy.

Click here to learn more about the potential advantages of buying a condo instead of a co-op.