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2 Bumps

What is the difference between a condo and an apartment?

Just wondering.

Answer Question
 
staciandababy

Asked by staciandababy at 3:52 PM on Jul. 10, 2013 in Home & Garden

Level 38 (102,010 Credits)
Answers (11)
  • Umm, a condo/townhome is usually 2 floors, and an apartment is only one?

    I really don't know. Around here though, it seems like a condo/townhome is more like a real home.
    Rosehawk

    Answer by Rosehawk at 3:53 PM on Jul. 10, 2013

  • A condo you usually own, an apartment you usually don't. We once lived at a place that was originally condos, got bought by an apartment company, and then got bought again by another condo company.

    I'm wondering if the number of floors varies by region, because it's common here to find 2 floor townhomes that are apartments.
    Ginger0104

    Answer by Ginger0104 at 4:04 PM on Jul. 10, 2013

  • I think condos and townhomes are independently owned and apartments are all owned by one person.
    SleepingBeautee

    Answer by SleepingBeautee at 4:05 PM on Jul. 10, 2013

  • About a thousand bucks a month
    fiatpax

    Answer by fiatpax at 4:07 PM on Jul. 10, 2013

  • Own vs. Rent
    ILovemyPaulie

    Answer by ILovemyPaulie at 4:14 PM on Jul. 10, 2013

  • Condo is owned and larger, sqft. Apartment is rented and smaller.
    louise2

    Answer by louise2 at 4:27 PM on Jul. 10, 2013

  • Condominium is a system of ownership of individual units in a multi unit structure, combined with joint ownership of commonly used property. An Apartment is a dwelling unit within a multifamily structure, generally provided as rental housing.

    older

    Answer by older at 4:35 PM on Jul. 10, 2013

  • Yes, you rent an apartment, own a condo.
    mompam

    Answer by mompam at 4:49 PM on Jul. 10, 2013

  • One you own, one you don't.
    tasches

    Answer by tasches at 4:49 PM on Jul. 10, 2013

  • Yup, a condo is something you will buy and own. You will actually get a Deed to your own part of the property. Usually you pay a fee yearly for maintenance, homeowners fund etc... which is again, usually split between the owners. An apartment is rented. You pay monthly but do not own.
    m-avi

    Answer by m-avi at 5:45 PM on Jul. 10, 2013

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