A J.C. Hart Apartment Community in Carmel, IN

The Differences Between An Apartment And A Condo In Carmel

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

The first time someone sees a condo, they are typically amazed by how similar it appears to an apartment. Ultimately, there is a logical cause for the confusion as they are the same style of home! With that being said, there are a few important variances that may make one a better accommodation for you and your family.

Is a condo or apartment in Carmel best for you? Let's check out what you ought to know to make your choice.

Ownership Is The Biggest Factor

As was already established, condominiums or condos and apartments are virtually an identical type of living space. The largest difference between a condo or an apartment in Carmel is ownership. Let’s break it down a little more.

An apartment is a rented unit under the ownership of a property management business. That property management group is then accountable for the broader complex. A management team is employed to look after the property and its occupants. You won’t own apartments. Alternatively, you’re a tenant who consents to a rental contract with the ownership.

A condo is controlled by a lone person or business, generally either a landlord or possibly yourself. Though your dwelling is within a multi-family building similar to an apartment, every condo is owned by a private entity. You may have sole ownership of the condo, much like you’d buy a house.

To make it simple, the difference between a condo and an apartment in Carmel is that a condo is bought and sold in the same manner as a house. That “house” is then located in a multi-unit building or complex.

Advantages To Renting An Apartment In Carmel

Modern gray living room at Spark Apartments 

Because the management team is in charge of the unit, they are required to complete the upkeep. You’ll never need to buy a mower or leaf blower, they will perform all of the maintenance for you! You’ll also have maintenance staff to assist with all of the items that come with your rental, like the furnace, water heater, and air conditioner. Is your heater not working? Just call your maintenance technicians and get it fixed at no added cost to you!

One more difference between a condo and an apartment in Carmel is the majority of apartment leasing has possibilities for differing lengths of time. If you change cities frequently for work, you could have the chance to secure flexible lease terms, allowing you to avoid a longer rental contract in each new city.

Benefits To Living In A Condo

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

While it is helpful to have benefits like maintenance professionals at the ready, apartments have limitations on the changes you can make to your dwelling. On the other hand, If you have your own condo, you can do as you please! You’re free to update, paint, and renovate however you like! A condo could be the right way to go if you are looking to put down long-term roots and invest in property. It is a large upfront investment, so be ready to stay in one place for some time to make the most of it.

A Couple Extra 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 Carmel is amenities. These will vary extensively between each apartment or condo property. Apartments could come with access to a pool, gym, clubhouse, dog park, and possibly a couple of walking paths. The majority of condos are included within a community homeowner’s association (HOA), meaning you’ll in all likelihood still get advantages such as a community pool or landscape services as a perk of ownership.

Excited To Find Your Next Home In Carmel?

If you’re attempting to decide between a condo or apartment in Carmel, you can discover an amazing place to call home at Midtown Flats. We have roomy designs, wonderful staff, and sought-after amenities. Call and talk to one of our friendly leasing specialists, or simply schedule a tour to get started.