Difference Between Condo And Apartment? - Bin It

Difference Between Condo And Apartment?

Moving Prep

The first thing that comes to mind when you think about moving to New York is probably the thought of getting to see the Statue of Liberty. The state of New York is almost 55,000 square miles, and it is the most densely populated city in the United States. New York is home to five of the most populous metro areas in the United States out of 125 areas. Relocating to the Empire State doesn’t mean that you’ll always get to see the Empire State Building. 

Not to say that there aren’t any mountainous ranges, waterfront views, and small towns in the state of New York. New York is the place of the famous Niagara Falls near the border between the United States and Canada on the Niagara River. We look at some of the best places you can move to if you want to relocate to New York. We also look at the characteristic differences between a condominium and an apartment.

Difference Between A Condominium And An Apartment

A condominium and an apartment can be very much alike, but there are some distinct differences. The two are similar in the sense that they are both a kind of property. The two types of property offer completely different advantages for homeowners or renters. 

Make sure you understand the description of both kinds of properties before you decide to buy or rent a condominium or apartment. This way you won’t have to face any surprises after you have moved in.

What Is A Condo?

The word condominium is sometimes written in the truncated form as ‘condo.’ A condominium is a piece of property that lies within a homeowner’s association. Homeowners associations often charge all of the homeowners within the society a maintenance fee. The maintenance fee ensures that the homeowners association can provide all of the residents with state-of-the-art facilities and amenities within the society.

All of the condos within a homeowners association can have different homeowners. Each homeowner has full rights over the condo and can choose to live in it or decide to rent it out. Homeowners living in a condo might have the facility to call local plumbers or electricians in their area if they need any repairs to their property. Homeowners of a condo might not need to pay for some kinds of repairs because they have already paid the monthly maintenance fee to the homeowners association.

What Is An Apartment?

An apartment is a piece of property owned and managed by a property management company. All the units in an apartment building, community, or complex are often identical. All the tenants of different apartments must comply with the same rules and regulations because they all coordinate with the same owner. The property manager is often available in the leasing office of the property. 

The job of the leasing agents in the leasing office is to coordinate the inquiries and complaints of tenants within the apartment complex. One of the main advantages for residents of apartments is that they have streamlined services for rent payments and lease proceedings. A setback for tenants is facing unnecessary impediments if the professional landlord refuses to refurbish outdated appliances and accessories within the apartment.

Comparison Of The Facilities Of Condos And Apartments

A condo offers residents a glimpse of a customized living experience. Apartments within a building, for the most part, must be similar so there is very little room for personalization. A condo can have a customized kitchen countertop or fireplace and feature different colors of paint on the walls. Needless to say, all of these customizations are often made by the previous owner of the condo based on their preferences. 

New homeowners of condos can choose to keep the customizations installed by the previous owner or completely change them based on their preferences. Renters might pay a higher price for living in a condo but they can avail a variety of facilities within their community. For example, the homeowners association of a condo offers its members facilities such as a local gym, coffee shops, commercial areas, and parks. People living in an apartment might not have such easy access to these facilities based on the location of their apartment within the New York area.  

Commuting To Work

Before you choose between an apartment or a condo in any area, know that most people living in New York often commute to work. Commuting will not take a very long time if you live in a metropolitan area like Brooklyn that is close to work. The average commute time for a person working in midtown Manhattan is 40 minutes. A monthly unlimited-trip subway pass in New York costs 127 USD, be prepared to factor this into your expenses. 

Rental Costs In The Boroughs Of NYC

Living in New York City is not going to be cheap by any standard. NYC is divided into five boroughs: The Bronx, Brooklyn, Manhattan, Queens, and Staten Island. Communities within each borough can be costly or affordable based on factors such as the availability of public transport and the general demographics of the area. Affluent people can move to Manhattan to experience the best nightlife New York has to offer because Manhattan is the most expensive borough of NYC. 

Brooklyn comes in second place in terms of expense but it has a lot to offer. You can visit the Brooklyn Botanic Garden to indulge yourself in nature or go for a walk at the Brooklyn Heights Promenade. Brooklyn Bridge Park offers some of the best views of the skyline in addition to access to sports facilities. Queens is home to some of the most widespread varieties of ethnicities and cultures in NYC. 

The northernmost borough of NYC is The Bronx, home of the New York Yankees. Staten Island is the most affordable borough of NYC because it is not accessible by the NYC subway. 

Why Get Professional Movers To Relocate To New York?

Moving house is an intimidating ordeal for anyone. Use professional movers like Bin It because it will save you a lot of time and money. Professional movers have insurance for all of your valuables so you can find out exactly what your coverage options are and how much your valuables are covered against damages. Most importantly, professional movers use the right equipment and manpower to ensure that heavy items do not get damaged and no one gets hurt.