When deciding where you want to live, two fantastic options are apartments and condos. People often get these two confused and use the terms synonymously, but what you can expect from each type of home is unique. Understand what an apartment and a condominium are, so you can decide which style of living is right for you.

Condos vs. Apartments: Where to Live?

The Main Difference

The reason people often confuse these two types of homes is because there isn’t much physical difference between them; it lies in the way that it is owned. An apartment is part of an entire complex, all owned by one entity, such as a corporation, that handles the property management.

A condominium is owned by one person, and they manage the unit under the homeowner’s association umbrella. They may use the help of professional management services or handle the leasing themselves. You cannot purchase an apartment, but you could buy a condominium and own it yourself rather than leasing it.

How to Choose Your Solution

The cost of leasing an apartment and a condo are often similar when you look at comparable units, such as their size and the amenities offered in the community. However, condos generally tend to be in better condition. The owner cares more about your specific unit since it is their own investment, which means you may have nicer materials and better appliances.

Your neighbors may not be people who are renting, but owners of their own units who feel a pride of ownership, so they are likely to be better members of the community than renters. If you want to make a smart investment, your best choice may be to buy a condominium rather than renting it. Your monthly payment will then go into your own equity rather than into someone else’s pocket.

The Towers offers the best of condominium living in Tampa, FL. Their two side-by-side high rise buildings offer luxury units with breathtaking views of Hillsborough Bay and the Tampa skyline. The community offers deluxe amenities to the residents such as a spa, pet park, a clubhouse with social events, and a resort-style pool. Learn more on Facebook and call (813) 229-6500 to schedule a tour today!