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What Is The Difference Between A Condo And An Apartment In Fishers

March 15, 2023
Exterior view of a blue and brown brick apartment building at Ivy Flats Apartments

Whenever a person first visits a condo, they are often amazed by how identical it feels to an apartment. Ultimately, there is a valid cause for the bewilderment as they are the same sort of home! With that being said, there are a few noteable variances that could make one a better match for you and your family members.

Is a condo or apartment in Fishers best for you? Let's explore what you need to know to make your choice.

Ownership Is The Most Important Consideration

As mentioned above, condominiums or condos and apartments are virtually an identical type of living space. The largest difference between a condo or an apartment in Fishers is who owns it. Let’s examine this a bit more.

An apartment is a place you rent that is owned by a property management business. That property management group is then accountable for the entire complex. A management team is employed to take care of the complex and its tenants. You never own apartments. As an alternative, you’re an occupant who agrees to a rental contract with the building’s owner.

A condo is controlled by a lone body, usually either a lessor or yourself. Although your dwelling is in a building or community similar to an apartment, each condo is owned separately. You may have the condo under your name only, in the same way you’d acquire a house.

To clarify, the difference between a condo and an apartment in Fishers is that a condo is purchased just like a house. That “house” is then within a residential building or complex.

Benefits To Leasing An Apartment In Fishers

Modern gray living room at Spark Apartments 

Due to the fact that the property management group is responsible for the unit, they have to take care of the regular service and repairs. You’ll never need to purchase a mower or snowblower, they will perform all of the property care for you! You’ll also have maintenance staff to service or repair all the features included with your rental, like the plumbing fixtures, HVAC system, and appliances. Is your dishwasher on the fritz? Just call your maintenance staff and get it repaired at no added expense to you!

One more difference between a condo and an apartment in Fishers is most apartment leasing has opportunities for various time frames. If you relocate often for work, you might have the ability to find shorter lease terms, saving you from a lengthier rental arrangement every time you move.

Advantages To Buying Or Leasing A Condo

A gray bed with blue pillows and black side tables in a bedroom at Highpointe Apartments. 

Even though it is great to have things like maintenance professionals on call, apartments include constraints on the changes you can make to your place. On the other hand, If you have your own condo, the world is your oyster! You may renovate, update, and paint the way you want! A condo could be the wise choice if you wish to put down long-term roots and potentially benefit financially. It is a big commitment, so be ready to stay in one place for several years to make the most of it.

A Few More Things To Consider

A bright blue pool and an exterior view of an apartment building at Echo Park Bloomington Apartments. 

Another difference between a condo and an apartment in Fishers is amenities. These can differ considerably between every apartment or condo community. Apartments may provide access to a pool, gym, clubhouse, dog park, and maybe some walking trails. Most condos are a part of a community homeowner’s association (HOA), meaning you’ll probably still enjoy advantages including an outdoor pool or pre-arranged landscaping as a perk of ownership.

Would You Like To Locate Your New Home In Fishers?

If you’re trying to decide between a condo or apartment in Fishers, you can discover an amazing place to come home to at State at Fishers. We have roomy designs, courteous staff, and sought-after amenities. Contact and talk to one of our staff members, or just schedule a tour to begin.