Difference Between An Apartment And Condo

Everybody needs a shelter or a place where they can comfortably and conveniently live

. Some like to live in a subdivision, while some prefer to live in a condo or in an apartment. Everything depends on the lifestyle of the person and which kind of dwellings will suit his or her needs.

Nowadays, people, especially those who are living in the cities, would prefer to live in a condo or in an apartment. This requires fewer obligations and maintenance compared to town houses or other real estates. But many are confused about the distinction between a condo and an apartment.

From the point of view of a real estate piece, they are almost just the same. They are similar in their architectural structures. Both can be rented or can be owned. Perhaps they may differ in the kind of ownership.

Some of the differences between owning a condo and an apartment are as follows. A condo is bound to the rules of the Condo Act wherein you have to strictly follow what is written on it. Since this condo is only bound in one building, it has only one sewage, electrical, as well as water system in this building. So, if one of these systems malfunctioned, everybody will be affected by it. This has an association which will take care of the security as well as the maintenance of the building and the unit. While in owning an apartment, there is no one who is going to tend for your apartment but you. There is no association that you will refer to and you are free to do what you wanted to do in your place.

In a condo, when the owner wants to alter something in its structure, one should ask first permission from its association about the changes that he or she wanted to change in his or her unit. This is a standard procedure for a condo owner because this way, it guarantees the rest of condo owners that the water system, electrical systems as well as the sewage system will not be affected by the alterations that you wanted to make. The transformations that you would like to do will be determined and approved by the board of directors of the condo's association. Whereas, if you own an apartment, you can easily do any changes without so much fuss of getting an approval from anybody else except if the alterations that you will make will affect your neighborhood.

by: Emily Jones

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