In the cooperative, the purchaser buys a share in a corporation which, in turn, owns the building, land and any common areas. Ownership is represented by a stock certificate. Co-ops can only be financed through certain authorized lenders. The homeowners’ dues in co-ops may differ from those of condos because they include property taxes, a replacement reserve for water heaters, air conditioning and heating units, and some interior maintenance of appliances.
With cooperative ownership, you enjoy all the facilities, activities, benefits and privileges open to residents of Rossmoor.
In the condominium form of ownership, the purchaser owns the interior space that comprises his unit. Condos can be financed through the lender of your choice. The purchaser receives a grant deed to the condominium home. Payment of real estate taxes is the responsibility of the owner.
With condominimum ownership, you enjoy all the facilities, activities, benefits and privileges open to residents of Rossmoor.
Congregate living offers independent living in separate units, with the benefit of additional services and being able to share some activities of daily life with other residents. These are considered condos.
"The Waterford" is a 300-unit congregate living condominium development situated on 16 acres in Rossmoor. On the premises are a grand living room with bar and piano, gracious dining rooms, a friendly cafe, libraries, craft studios, club and entertainment rooms, a beauty salon and barber shop, an exercise room and guest rooms. Services for residents include 24-hour reception, fine dining daily with optional meals available, weekly housekeeping, and organized social activities.