What Is The Difference Between a Condo and an Apartment?

Several years ago my curiosity had gotten the better of me (I wasn’t yet licensed as a Realtor). At the time, many of my friends were either buying or renting a place of their own. It was common to hear my renter friends say “come by the apartment this weekend” while the purchasing friends would say “you’ve got to check out the views from my condo”…or something like that. For the most part I thought I had the terminology all figured out…the renters lived in apartments and the owners lived in condos.

NOT TRUE!

An apartment is a word used to describe the style of building! For example an apartment can take the shape of a high-rise or low-rise. A condo (or condominium as they’re legally known) is a style of ownership and could come in a variety of forms…townhouses, detached houses, high-rise, low-rise, industrial or even retail! Therefore, a condominium is not defined by its physical structure but rather the way in which owners have agreed to share the ownership of the common elements of the property while retaining individual ownership of parts of the property which make up their units!

Now that we’ve gotten that straightened out, let’s get you a condo of your own…send me an email or give me a call I’d love to help!