For those considering a new place to live, you do have many choices. In Chelsea, New York, it can be difficult to find a house for sale, and most people don’t want to live in a house. However, for those who are tired of renting and don’t understand the difference between a condo and an apartment, it can be hard to decide which will be better for them.
The main difference is a legal distinction, though there can be other differences.
Condo Living
A condominium is a large building with many living units available for sale. Each of these units is individually owned and if you own a condo, you actually own the place to live along with other rights. There is also a different lifestyle that goes along with the condominium, which is another difference between the condo and Apt. for sale.
Condos usually offer other services, as well. These can include maintenance repairs, pools, gyms, and lawn care and club houses. Condo owners usually also have rules and policies from the homeowner’s association that include membership fees, pet restrictions and even maintaining specific appearances outside of the building.
Apartment Living
Whenever people have an apartment, they usually pay a monthly rate, which is called rent. This means that they don’t own their living space and must abide by the rules set forth by the landlord. However, it is possible, especially in Chelsea, New York, to own an apartment or buy one.
In most cases, people think that a purchased apartment and a condo are the same things, but it doesn’t usually end up being that way. Condos are usually within a shared community, though apartment owners usually live in a building that also rents out their apartments.
Apartments, whether purchased or rented, also usually don’t include extra services that condominiums offer.
How to Choose
Your decision will ultimately be based on whether you want a lot of extra services. If you want to “own” a pool and live in a building with others, a condo is the best option, because you will own part of the pool and can use it when you want. Apartment buildings don’t have pools or laundry services.
Both options will have some type of restrictions, such as no pets or no changing the look of your place, though condos usually allow you to make more changes than an apartment.
