A condominium also called as condo is a form of real property where a specified part of a piece of real estate is individually owned. The owners of the condo can access the common facilities under legal rights associated with the ownership. Condos involve shared living and shared ownership. The condo consists of amenities and that are jointly shared by the co operative society. The society members also share the maintenance costs. Condos are individually owned apartments and if the owner wants he can rent it to other persons. In a condo, all maintenance activities, including lawn care and roof replacement are taken care by a condo association. The disadvantage with the condos are one may not care for the restrictions imposed by the condo association.
An apartment is a building that is owned by the individual or a company and the renters in the apartment pays rent to the company. An apartment is a multi storied building. An apartment is only a part of the building. The apartments are less expensive than the condos. There are different types of apartments like studios, lofts, duplexes and one bed room, two bed rooms apartments. Apartment living provides many advantages like they have lower maintenance costs, tax deductions in the apartment rentals and renters in the apartments can easily change from one apartment to other.
There are some similarities in between the condos and the apartments like the both are maintained by the professional management. Security is also high in the apartments and condos. Both apartment and condo living gives the advantage of proximity to the business centers and schools and the library. Both are generally located in the center of the city.
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An apartment is a self contained housing unit which occupies only a part of building which can be owned or rented. It is very convenient and safe to live in the apartments, apartment living is beneficial to both single professionals and married couples where both are employed. Living in the apartments provides several benefits over other types. The advantages of the apartments over an individual house are:
- The apartments have lower maintenance costs than the individual houses and these apartments are maintained by the professional management.
- Apartments are generally located in the center of the city where as individual houses are located in the out skirts.
- There are some tax deductions in the apartment rentals.
- Security is also high in the apartments and unlike in the individual houses, renters can easily shift from the apartments.
- The prices of the individual houses are very high when compared to the apartments.
- Apartment living has the advantage of proximity to the business centers, schools and the library.
Generally individual houses are located in the city out skirts and they are very peaceful without any disturbances from the neighbors, there is no need to share anything with the others. By having individual hose you can have more privacy and value for your house is more. You can change the house as you like without having to take any others permission. The major disadvantages of living in an individual house are, high maintenance and low security when compared to the apartments.
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