Differences Between Condominium And Apartments, Young People Must Know Before Choosing

YOGYAKARTA - More and more people are choosing to live in apartments and condominiums rather than landed houses. These two types of vertical housing are popular as a place to live because they offer a number of advantages. Even though the building and design look the same, there are differences between condominiums and apartments.

Many apartments and condominiums have been built in big cities in Indonesia. In fact, the trend of living in vertical housing is increasing among young people or new couples. But there are still many people who don't know the difference between an apartment and a condominium.

Differences Between Condominium and Apartment

Apartments and condominiums offer a number of advantages to support the comfort of their residents, starting from strategic location, security, facilities and services, and so on. However, even though both are vertical residences, there are a number of differences between condominiums and apartments that you should know.

Ownership status

The most striking difference between a condominium and an apartment is in terms of ownership status. Condominium ownership is generally full or complete, giving the owner full rights to the unit. Condo residents have full rights to their units and are free to rent or sell them.

Meanwhile, apartments are usually rented or purchased from the original owner, so residents do not have ownership of the land, roof or public facilities. Apartments and condominiums also have differences in market share. Condos are often investments that can be rented or sold, while apartments today can also have ownership status.

Function

Another difference between apartments and condominiums is their function or intended use. An apartment is a residence that is generally provided for those who do not want or cannot afford to own a private home. The apartment offers a variety of facilities that increase the comfort of its residents.

Apartments can be used as temporary residences for those working or studying in certain locations, who may not be able to afford property in expensive areas. In contrast, a condominium is a private residence with full ownership rights to the unit. Even though the facilities provided are shared property, condominiums can also be used as property investments for buying and selling or renting.

Characteristics

Condos and apartments also have differences in terms of characteristics. Condos typically have lower maintenance costs because payments are made through the association that manages the facility and maintenance. Condos also generally offer a high level of security and comfort in interacting more closely with neighbors.

Meanwhile, apartments usually have many units on more than two floors with various types and sizes. These properties are generally considered a more affordable housing option in the city. If there is a problem in the apartment, residents can report it to the developer's management and do not need to handle it themselves.

Management and Administration

In terms of management and administration, condominiums and apartments are also different. Apartments are usually managed by the building developer's management, so any problems that arise must be reported to management. Meanwhile, condominium management can be carried out by the residents themselves or the condominium management.

Renovations or some changes to the exterior of the condominium may not be permitted. Additionally, condo owners will be charged additional fees for parking and cleaning. Condos are usually furnished, while the facilities in the apartment depend on the owner. The system for calculating electricity and water costs can also be different.

These are some of the differences between condominiums and apartments that you need to know before deciding to live in a vertical residence. It can be concluded that the basic difference between an apartment and a condominium is in terms of ownership status.

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