What's the difference between a condo and an apartment?

aren’t they the same i think they are

Answer #1

A condo is like an apartment just a little bigger I believe

Answer #2

A condo is more like an actual house (with all the amenities of a full house) but it is attached to other condos, whereas an apartment may be lacking (or sharing) certain things such as storage facilities, laundry facilities, etc.

Answer #3

In an apartment you will only pay your rent and any utilities not included in the rent. You will likely not own the apartment.

In a condo you will likely own it. You will pay the mortgage along with condo association fees. The condo fees are used to do any upgrades or outdoor upkeep to the building.

Answer #4

A building can have things like storage and laundry, or lack them, regardless of whether its units are apartments or condos. Physically, they are identical. But for an apartment you pay rent to a landlord who owns the whole building and is responsible for maintenance (plumbing, shoveling the walks, etc.), and who can decide to discontinue renting it to you at the end of the rental period or lease (usually monthly rental and 1-year lease). A condo (short for condominium) is like an apartment except that you buy and own your individual unit, for which you are solely responsible, and contribute a monthly fee to share in the joint maintenance by all unit-owners of the public areas and systems (heating, plumbing, electricity, etc. that serve the building as a whole). The condo is yours until you sell it, give it away, or bequeath it to your heirs. You can also rent it out to tenants as though it were an apartment, in which case you become the landlord - not for the whole building, but just for your condo unit.

Answer #5

a condo is more shopisticated… more for like college kids.

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