What is the difference between a condo and and apartment.?

Question

Any differences? The same. What is it?

Answer 1

A condo is supposedly owned, but it is usually in a complex where walls , ceilings, floors, are shared with neighbors, and you have to hire people to 'manage' things. The only part of ownership you get is stuck with repair bills yourself. Apartments are usually just straight out rented, and the landlord has the responsibility to keep the building up, and do structural repairs that are not your fault.

Answer 2

In my experience, a condo is often multi-storied, while an apartment is all on the same floor.

There is the owned vs. rent thing, but I know a lot of people who rent condos, and I have heard of people in the city buying apartments. In general, apartments would be rented from someone who owns the entire complex, while a condo would be rented from an individual who owns one unit within the complex.

Answer 3

They are built the same way, right next to each other with common walls, but you usually own a condo and rent an apartment for one. Condos usually have full house amenities too, laundry room, garage, etc. whereas apartments don't always have them. But they are usually in an association type environment with a community pool area just like apartments.

Answer 4

condo : Type of real estate ownership where the owner has title to a specific unit and shared interest in common areas.

While an apartment is : An apartment (or flat) is a self-contained housing unit that occupies only part of a building. Apartments may be owned (by an owner-occupier) or rented (by tenants).

Answer 5

Condo is owned; an apartment is rented.

Answer 6

a condominium you own. and an apartment you rent.