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The Differences Between An Apartment And A Condo In Carmel

March 15, 2023
Exterior view of a blue and brown brick apartment building at Ivy Flats Apartments
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Whenever a person first goes to a condo, they are often surprised by how similar it feels to an apartment. Ultimately, there is a valid cause for the confusion as they are the same style of living space! Despite this fact, there are several important variances that may make one a better fit for you and your family.

Is a condo or apartment in Carmel right for you? Let's check out what you need to know to make the right call.

Ownership Is The Biggest Consideration

As mentioned above, condos or condominiums and apartments are the same living space style. The largest difference between a condo or an apartment in Carmel is ownership. Let’s examine this in further detail.

An apartment is a leased unit under the control of a property management corporation. That property management group is then accountable for the broader complex. A manager is employed to attend to the community and its occupants. You never own the unit. As an alternative, you’re a Resident who consents to a rental contract with the building’s owner.

A condo is owned by a single person or business, typically either a lessor or yourself. Even though the unit is within a larger community similar to an apartment, every condo is owned separately. You can have the condo under your name only, much like you’d acquire a house.

To make it simple, the difference between a condo and an apartment in Carmel is that a condo is obtained just like a house. This “house” is then located in a multi-family building or housing plan.

Pros To Choosing An Apartment In Carmel

Modern gray living room at Spark Apartments 

Because the management team is responsible for the unit, they have to handle the regular service and repairs. No need to buy a weed wacker or snowblower, they will do all of the maintenance for you! You can also rely on maintenance staff to service or repair all of the items that come with your place, like the plumbing fixtures, HVAC system, and appliances. Is your heater in need of repair? Simply call your maintenance technicians and have the problem addressed at no added cost to you!

Another difference between a condo and an apartment in Carmel is most apartment leasing has opportunities for various time frames. If you relocate often for your job, you might have the chance to secure shorter lease terms, saving you from a longer rental arrangement every time you move.

Pros To Buying Or Leasing A Condo

A gray bed with blue pillows and black side tables in a bedroom at Highpointe Apartments. 

While it is great to have things like a maintenance team standing by, apartments come with restrictions on the changes you can make to your unit. However, If you own a condo, the world is your oyster! You’re free to update, paint, and renovate however you like! A condo could be the right way to go if you wish to get established in a community and build equity. It is a large upfront investment, so expect to remain put for a few years to make the most of it.

A Few Extra Considerations

A bright blue pool and an exterior view of an apartment building at Echo Park Bloomington Apartments. 

Another difference between a condo and an apartment in Carmel is amenities. You can expect these to vary significantly between every apartment or condo property. Apartments may give you access to a fitness center, pool, dog park, clubhouse, and maybe a couple of nature walks. The majority of condos are included within a community homeowner association, which means you’ll in all likelihood still get benefits like a swimming pool or professional landscaping as a perk of ownership.

Ready To Discover Your New Home In Carmel?

If you’re attempting to decide between a condo or apartment in Carmel, you can discover an amazing place to live at North Haven Apartments. We have sizable designs, courteous staff, and sought-after amenities. Call and speak with one of our friendly leasing specialists, or simply schedule a tour to begin.