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Condo or Apartment? Which is Best for You?

When deciding to move, choosing the right type of housing can be a very difficult task. It is certainly an important decision for your overall wellbeing and happiness. If you have lived in apartments and are ready to step up a bit and purchase your own condo, you might love that you are no longer tied to a landlord. On the other hand, choosing to move into a rented apartment could still have some perks you wouldn’t get with a condo. Do you really know what options come with each choice? Which traits of each option are most important to you? Below are a few items of note (both good and possibly bad) for both housing options so that when moving day comes, you’ll know you made the right decision.

APARTMENT

PROS

You Aren’t Tied Down

Apartment living can be a pretty rewarding experience if you don’t want to be tied down to a single location. You don’t typically have to sign a lease longer than 12 months, giving you the freedom to move if you so choose.

You Might Get Utilities Too

Utilities such as heat and hot water are often included in the bulk price of the monthly rental fee. This can be beneficial to those who like to simplify and consolidate their expenses each month.

Landlords Can be a Good Thing

When it comes to shoveling snow, fixing a broken sink, or buying light bulb replacements, your landlord will usually be the one responsible so you don’t have to sweat it.

Amenities

Some apartments are part of a community space, providing a gym, pool, or party space rental. You may not ever have to leave home!

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Cons:

Privacy is a Factor

Often, apartment complexes or multi-family housing units come with neighbors very close by. You don’t get to choose your upstairs neighbor and we have all heard horror stories about noisy people.

Laundry

Unfortunately, the majority of rental properties have either no laundry at all, or a communal laundry room. Nobody likes to wait for the washing machine to be free.

No Room for a Personal Touch

Landlords are not exactly known for their carefree attitudes when it comes to decorating your space. It is a rental and therefore, not yours, so you are not usually allowed to paint walls or make any major changes to the semi-permanent décor.

And if You Have a Pet…

Finding an apartment that allows pets can be pretty difficult. If you do find one, there is usually an extra monthly fee tacked on to your rent just in case damage occurs. 

CONDO

Pros:

They Come in All Sizes

One of the biggest aspects people like about condos is their reasonable size, but that doesn’t mean they are all small. Condos come in all different sizes with varying price tags. Since the market is flexible, it can be easy to find the perfect size for you and your budget.

Sense of Community

Many people who live in condos feel that they are part of a larger community. Your neighbors will typically have much more pride in their living space than apartment dwellers do. Since it is their own space, they want to know their neighbors and keep the grounds looking nice.

You Own Your Own Space

Because you own your condo, you can choose whatever paint you want!

Appliances

Like an apartment, many condos come with appliances included. The difference though, is that you are purchasing them along with the condo. So, they’re all yours!

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Cons:

Insurance

Since this will be a home purchase, you will need to purchase homeowners insurance. Though, this type of insurance will typically be much less expensive than if you had purchased a single-family home.

Homeowners Association Fees

On top of your mortgage and taxes, most of the time you will have to pay a HOA fee. This fee will go toward maintenance, amenities, and/or laundry facilities, etc.

Not a Lot of Backyard

Many single people choose a condo because they don’t need a huge backyard for children or parties. However, this could be a downfall for some people.

Rules

The Homeowners’ Association you are a part of may also have some rules for living such as a set quiet time, rules on holiday decorations, parking bans, and other things. If you are the type of person who marches to the beat of your own drum, a condo might not be the best fit for you.

Hopefully, this breakdown has helped you along the way in making such a big decision. If you need further help deciding, perhaps checking with friends and family on their experiences with apartment or condo living might help.

Are you ready to get moving? Head over to www.arpinmove.com to get started. Our certified and trained movers, packers, and drivers would love to help you with this major life change!

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