Apartments vs. Condominiums – What is the Difference Between them?
It is certain that every individual is aware of the importance of their abode. As of the present homes do not only take the form of the traditional structures of house. Many people especially those who live in a large city setting comfortably retire to and reside in condominiums and apartments. As urban folks, these people are used to living among a community of strangers in a single structure. These types of living spaces do of course vary according to space big enough to accommodate your spouse and children or just the right size to keep you well sheltered. There is no denying that more and more people are getting accustomed to living in flats as compared to living in suburban houses.
Apartments usually come close to the form of a whole house with all the facilities and space needed which therefore has the most convenience or perhaps even luxury to offer to the dwellers. However, a particular room in a building may also be called as an apartment. Anyone interested in residing in an apartment has the choice to pay for lease or to simply buy the whole place if he or she can afford it. Going back to the individualities of both, a guiding characteristic to easily separate apartments from condominiums is the extension to the coverage of the place to the external spaces as opposed to the latter. Therefore, if you buy an apartment, you have full rights to using the hallway.
Pros And More Pros
There is really no saying what the cons are but there are definitely a different set of pros for both setting. For starters, think of the security measures enforced in every apartment building. Day in and day out, security guards roam around to check for anything that could pose as a threat to the residents from burglaries to accidents.
As for condominiums, you have full control over what happens and that includes your security while in it. The residents are responsible for their safety which to some people is better than having guards as they can enforce their own set of rules and find no difficulty in trusting others.
The “$” Figures
So just how much can you expect from each of these? Is the competition between them neck and neck as well when it comes to the price? The answer, unfortunately, is an indefinite one as it will depend on a set of factors. For instance, as with all real estate properties, the location for the apartments and condominiums are given great consideration. This is the major reason why the costs go up or down as proximity to certain city areas such as the nearest convenience store or mall has a good influence on it.
Condominiums will have some extra expenses on the side as association fees start to come into the picture. There is really no choice for struggling as you along with all the other tenants are subjected to pay this for the overall maintenance of the building.
Now that everything is crystal clear, let us have a recap of some of the strongest and weakest points for both condominiums and apartments.
- One could definitely expect apartments to have more freedom in terms of how you handle your living space and other facilities that go beyond its walls and doors.
- However, condominiums do have the edge over affordability despite its lesser control for the owners over the household features.
- Both choices stand a chance for excellent safety features.
- Both choices are suited for the labor force population which constantly needs to be near their workplace or office in the city.
The biggest difference between earlier today and the present is that you already have a good idea whether any of the two will suit you better and it is backed up by some reliable facts. Go ahead and decide whether you are more of a condo or an apartment type of person.