Thoughts on a condo vs apartment
The biggest difference between a condo vs. apartment is ownership. An apartment is defined as a residence that is rented, often as part of a larger residential building. A condo is similar in structure to an apartment — usually a unit within a larger residential building — but condos are owned instead of rented.
Why you shouldn’t live in a condo?
Added Expense and HOA Fees
The price for condos per square foot can be higher than single-family homes. Often what you’re paying for with a condo is convenience and location. Your mortgage payment could increase when all things are considered. Also, most condo communities have added Home Owner’s Association Fees.
What are the disadvantages of a condo?
Downsides of Buying a Condo
- Homeowners Association Fees. As you might imagine, that pool, fitness center, security system, and maintenance crew all cost money. …
- Potentially Mismanaged Funds. …
- Lack of Privacy. …
- Delinquency. …
- Difficulty Selling. …
- More Rules.
Is it practical to live in a condo?
Condos have first class amenities and great building features. Many may prefer a house and lot but condominiums are still good choices because of all the great perks that go with them. Such are comforts, luxury and security which make a condominium practical especially with those living a busy life.
Are apartments safer than condos?
When looking for a new home, apartment and condo complexes often look like the best option as security is tighter on them, as opposed to a regular detached home. However, condos can actually be much more secure than a regular apartment block.
What’s the benefit of owning a condo?
Condos offer residents the opportunity to embrace homeownership without the hassle of yard work, snow shoveling, or home repairs. Building hallways, entryways, and community spaces are also taken care of by a cleaning or maintenance staff, so you only have to worry about your living space.
What are the positive effects of condo living?
The Perks of Condo Living
- Accessible location. The search for a new home always begins with the location. …
- Safe environment. …
- Low maintenance. …
- Sensible amenities. …
- Greens and open spaces.
What is the catch with condos?
Hard to get financing: Financing a condo is often more difficult that financing a single-family home. That’s because there are more factors at play. Difficult to sell: Reselling a condo can sometimes be more of an issue than reselling a traditional house.
What is the lifespan of a condominium?
What the law refers to in the 50-year rule is the lifespan of a corporation which is essentially the same to unit owners who make up the condominium project. However, the condominium corporation can actually be renewed for another fifty years so the ownership does not necessarily end.
Are condo fees worth it?
Maintenance is built into condo fees
Condos are perfect for buyers who want to downsize from a larger home or who don’t want to spend a ton of time maintaining a house. Monthly condo fees do pay for this service. However for some, the trade off in condo fee versus your time is well worth it!
What are the pros and cons of condo living?
Pros and Cons of Buying a Condo
| Pros | Cons |
|---|---|
| May be easier to afford than a single-family home | HOA and maintenance fees |
| Location, location, location | Abide by the HOA rules |
| Increased security | May have limited parking |
| Amenities like a pool and a gym | Less storage space |
Which floor is the safest to live on?
More security: When you’re on the top floor of a building, you are the least vulnerable to security threats like break-ins. You also don’t have to worry about break-ins from your exterior windows or patio.
Which apartment floor is safest?
Living on the top floor means fewer visits from unwanted pests and critters. Bugs and other pests typically live in or on the ground outside, so they’re more likely to infest apartments that are closer to where they live in nature.
Do higher floors have less bugs?
There are usually less bugs on higher floors. But factors that determine the population of bugs are the environment, seasons, and location. Bugs can get into higher floors by flying in from outside or through inside openings. Common bugs on higher floors are cockroaches, ants, bed bugs, and spiders.
Does sound travel up or down in an apartment?
So Does Sound Travel Up or Down: The Conclusion
Sound doesn’t travel upward or downward in an apartment. Sound travels in all directions equally unless you make some modifications or you seek to guide the sound in a particular direction.
Does heat rise in apartment buildings?
Heat May Rise but It Can Also Go out the Roof
Unfortunately, most apartments are not well-insulated when they are built. Therefore, third-story apartment dwellers feel the effects in the summer as well as the winter. As a result, tenants pay more for both their heating and cooling costs.
Why is it so hot in my condo?
Buildings and concrete absorb radiation and release it as heat, making cities up to 12 degrees hotter than their rural counterparts. Heat is also more intense in apartments and condos than houses, which usually allow cross breezes and have more shade.
Is buying top floor apartment too hot?
Regarding the heat factor, city-based interior designer Shantanu Chaudhari says, “The topmost floor flats are usually 4 to 5 degrees hotter than the rest of the floors. Leakage is also a potential problem if the builder hasn’t done a good waterproofing job.
Why is my apartment so hot in the winter?
If a room feels especially hot during the day, it might be because it gets more direct sunlight than the rest of your home. While curtains can help insulate a room, they can also block out solar heat. In fact, according to the US Department of Energy, heavy drapes can reduce heat gains from the sun by up to 33%.
How do you keep a condo cool in the winter?
Keeping Your Condo Cool
- Tip #1 Keep your blinds and window covers closed during the day. …
- Tip #2 Open windows on cool mornings & evenings, and keep them closed during day. …
- Tip #3 Lights out! …
- Tip #4 Power down your appliances. …
- Tip #5 Circulate your air. …
- Tip #6 Use plants for protection.
How cold is too cold for apartment?
The World Health Organization (WHO) recommends setting your thermostat no lower than 64 degrees (F) in the Winter months while people are in the home. If there are infants or elderly individuals, they recommend keeping the temperature at 70 degrees at a minimum.