Condo vs Apartment: Difference and Comparison

Human beings need someplace to stay. Some people will buy their own homes, and some others will rent someplace to stay. It depends on their money and stays.

A condo is a place where you can buy that particular place you are going to stay. Likewise, you can stay in an apartment as well but with some rent and price.

Key Takeaways

  1. Condo owners hold property ownership, while apartment dwellers rent their living spaces.
  2. Condo owners pay association fees for maintenance and shared amenities, whereas apartment renters have maintenance costs included in their rent.
  3. Apartments have uniform designs and rules, while condos offer more flexibility in personalization and customization.

Condo vs Apartment

The difference between a Condo and an Apartment is that in a condo, there will be many buildings, and they will sometimes be named as blocks so that people can identify their building. An apartment is a single building with many houses. In a condo, you don’t have to pay any monthly rent. But in an apartment, you have to pay monthly rent.

Condo vs Apartment
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The condo is very famous nowadays, and many people are living there because of all the well-maintained facilities and everything in a single place. The price will be high but, in the end, you will get a good calm place to live.

So, buying a condo is worth it. Also, you will get many people to speak with. If you are an extrovert, then that will be very much perfect for you.

An apartment is a place where you will pay some amount during your stay. Also, you need to follow some rules that are given by the house owner. Because you are staying at some other’s place and you need to follow all the rules so that they will let you stay there.

Otherwise, you have to find some other place for your stay if you fail to follow them.

Comparison Table

Parameters of ComparisonCondoApartment
Derived FromLatinFrench
Monthly rentNoYes
Maintenance chargeRelatively highRelatively low
Basic FacilitiesYesNo
RateHigherLower

What is a Condo?

A condo will look like an apartment. But this place will contain many apartments in a single place. They all will be separated by units or blocks. This will contain many facilities in a single place.

So, they will contain all the basic facilities like a gym, swimming pools, meditation area, assembly hall, common room, and park for children. It is a good place to live.

People who work in IT companies or want to experience a single place will mostly buy a condo. It is very expensive, but the price will be worth it because of all the basic facilities one needs in a single place.

The best part is you have many people to chat with. Many neighbours will be there, and your kids can play with other kids at the park. A condo can have some other extra facilities, but it depends on the builder. Overall, it is a good place to live and relax.

The place will be very neat and clean. You won’t be able to find any single fault. It will be well-maintained. But that comes with a price. You have to pay a separate fee as a maintenance charge. But it will be worth it in the end when you live in a clean and fresh atmosphere.

But while staying at condos, you have to follow all the rules and security checks so that the people living in that area and others will be safe. And some extra rules will be there as well, but it depends on the place.

Condominium

What is an Apartment?

An apartment is a place where people live in a single building. Many people construct many houses in a single building and leave them for rent. In other cases, they even sell that to the other person as well, only with some great benefit.

But these places are mostly rented, and in rare cases, only you will be able to buy them. Otherwise, you have to pay some amount to the owner every month as rent.

Living in an apartment will sometimes be very difficult because you have to follow all the rules that are posed by the house owner. Once you fail to follow them, they might even throw you out.

But some people are there who will give you a warning once or twice before doing that. Also, some people will be very friendly, but it depends on the character of the people and the place we stay.

But you have to pay the rent regularly to stay in an apartment. One small mistake from your side will make you homeless. Once you confirm the apartment, you have to pay some advance amount to book that place.

And when you are going to some other place or a new apartment, the advance amount will be given back to you. But during your stay, you have to pay the rent for your stay.

Sometimes there will be water problems as well, so you have to make sure you wake up at the correct time to fetch enough water for your family.

apartment

Main Differences Between a Condo and an Apartment

  1. A condo will look like an apartment but with many buildings and units. On the other hand, an apartment is a single building, and it won’t contain many units.
  2. A condo does not require you to pay rent on a monthly basis. On the other hand, in an apartment, you have to pay the rent regularly.
  3. In Condo, they will collect some maintenance charges every month to maintain that place. In the apartment, they will collect some amount, but it won’t be very high.
  4. In a condo, you can find all the basic facilities in a single place. But in an apartment, there won’t be any facilities inside, but you can find them outside.
  5. Buying a condo will be very much expensive. But paying rent for an apartment every month won’t be that high.
Difference Between a Condo and an Apartment
References
  1. https://arc-riverdale.com/wp-content/uploads/2014/12/Choosing-Between-a-Co-op-and-a-Condo-NYTimes.com_.pdf

Last Updated : 08 August, 2023

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