Let me tell you a story. Once upon a time, I was a bit late to a meeting with my good friend who was in the country for only 3 days. She had taken that short time off for me and I was upset that I could not make it in time. As I was rushing, I forgot to take my phone on my desk which means I had no access to navigation apps that can guide me to the location. Fortunately, I didn’t panic and decided to ask around. At first, everything was going smoothly until I arrived near the meeting location. I asked a few people I met about the location of her apartment but every time they would tell me there is no apartment near that area. Again and again, it is the same answer. Then I called my friend and I asked her, “Where is your apartment?” and she told me in a very serious tone, probably annoyed I was late, “It is not an apartment, it is a condominium” and I was utterly confused with that. What’s the difference? Anyway, going back to the story, I arrived 30 minutes late and she was mad but after I treated her to a brunch, she forgave me unexpectedly quickly. The point I would like to make is that, know the difference between an apartment and a condominium. Henceforth, this article would list three differences between an apartment and a condominium.
1 – Amenities
The amenities between an apartment and a condominium differs. For amenities provided in an apartment, it can be lesser than condominiums. For example, amenities like free parking, pool, gym, and community room can be found in an apartment, but in a condominium, in addition to those amenities, a playground, pet grooming service, and car wash can also be found. It varies from one condominium to another, sometimes there is more, sometimes there is less but the basic amenities that can be found in an apartment are available in a condominium.
2 – Upgrade
When you own a condominium, a high chance you can design things more freely and luxuriously. Due to condominium being more spacious and individually own, the interior design would vary, and you can do any upgrades you would like. You can also change the layout to fit your preference. For an apartment, however, because an individual would own the entire units in one building, the design will have a cookie-cutter design, meaning the design would be identical for all the units, and because of this, you cannot really change the layout of the house because there are not many options. Apartments would not allow as many improvements or upgrades as a condominium because the layout cannot be changed.
3 – Rents
As mentioned above, an apartment building is typically owned by an individual so the rent would be the same for all units in one building. It is usually a fixed amount but if there is a rise in the amount of rent, it will occur during the time to renew or during mid-lease, provided that it is done with enough notice. As for condominiums, because each unit is individually owned, the rent varies from one individual to another. It should be a fixed amount as well unless the agreement states otherwise.
These are some of the differences between an apartment and a condominium. It has many similarities, but it is also very different from one another. Knowing the difference would affect your choice so be aware of it before making your decision. You will see lots of listings, such as Kayu Ara condo for sale, when you search for condominiums and apartments, and this information, it would allow you to differentiate between those two which would lead you to make the better decision for you. Read a lot of interesting articles here.