Condo vs Apartment - Major Differences You Should Know! (How Are They Different?)

Condo vs Apartment - Major Differences You Should Know! (How Are They Different?). In this comparison video I will talk about Condo vs Apartment.
So, the main difference between them is Ownership.
A condo is a living residence where you are the legal owner of the unit you live in. Condos are relatively bigger, and you will be expected to be responsible for your housing, including tax and fee payments for property ownership. On the other hand, an apartment means that you are paying rent to live in a property. Apartment responsibility is on the owner, and you are only required to pay the agreed rent.
Therefore, Condo wins in this category because you will enjoy the freedom from property ownership.
Overall Costs
Apartments have minimal costs because you are only expected to pay for your deposit and the monthly rent as agreed by the owner. On the other hand, Condos are quite expensive and require a lot of costs since you are the owner. You will be required to be actively involved and pay for every cost and fee that is required for property ownership.
Apartment, therefore, wins in this section because you will have minimal costs to cover since everything is imposed on the owner.
Maintenance requirements
Apartment maintenance is conducted by the house owner, whom you should contact in case of any faults identified. You will not be held responsible for any faults in the houses or be expected to cover any service fees. However, Condo maintenance is quite different because you are responsible for covering all the breakage or issues that might arise, and that can be quite expensive.
Apartments have the upper hand in this category because they are affordable to live in with no extra charges for property maintenance.
But do they have similarities?
Yes. They are similar in that they both encourage community living. Condos and apartments live close to one another, forming a community living together. It makes it relatively easier for the condos and apartments to share the available amenities that enhance the people's livelihood.
To sum up, how do they compare- Condo vs. apartments
I have lived in apartments for quite a long time because I only have to cover rent as my only expense. However, I am attracted to Condos because of the freedom provided to the owners, and they can make house modifications to fit their interests. Therefore, Condo is the overall winner.
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