HDFC buildings typically have strict subletting policies. In many cases, subletting is not allowed or is only permitted under specific circumstances, such as financial hardship. It’s important to check the co-op’s bylaws for detailed subletting rules.

A flip tax is a fee paid to the co-op when an owner sells their HDFC unit. It is usually a percentage of the seller’s profits, ranging from 30% to 50%. Some buildings impose higher flip taxes for short-term ownership (e.g., less than five years).

Yes, HDFC units are designed for buyers with low to moderate incomes. The income limit varies by building and is typically based on a percentage of the Area Median Income (AMI). Be sure to confirm your eligibility before proceeding.

Maintenance fees in HDFC buildings are often kept low to ensure affordability for residents. However, this can sometimes lead to delays in major building repairs or upgrades.

HDFC units are subject to resale restrictions, which often require selling at a price below market value to maintain affordability. Flip taxes and income eligibility for buyers also impact the resale process.

Yes, you can renovate your HDFC unit, but you may need board approval for major changes. It’s also important to consider how much you want to invest, given the resale restrictions.

Not all HDFC buildings are well-managed. Some may have a history of poor maintenance or financial issues. Research the building’s financials and maintenance records before purchasing.

To qualify, you must meet the income restrictions set by the building and sometimes pass a co-op board interview. It’s also essential to understand the building’s financial and management history.