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

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

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

When someone first sees a condo, they are typically surprised by how identical it seems to an apartment. Ultimately, there is a good cause for the puzzlement as they are the same style of living arrangement! However, there are several important distinctions that might make one an ideal match for you and the people you live with.

Is a condo or apartment in Fishers suitable for you? Let's take a look at what you ought to know to make your decision.

Ownership Is The Most Important Consideration

As previously noted, condominiums or condos and apartments are the same living space style. The biggest difference between a condo or an apartment in Fishers is the owner. Let’s investigate this a little more.

An apartment is a place you rent that is under the control of a property management company. This organization is then accountable for the broader complex. A manager is available on-site to attend to the property and its tenants. You never own apartments. Instead, you’re a Resident who agrees to a lease with the building’s owner.

A condo is owned by a solitary entity, generally either yourself or a landlord. Even though the unit is within a multi-family building like an apartment, each condo is owned privately. You can have sole ownership of the condo, just like you’d buy 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 part of a larger residential building or community.

Advantages To Renting An Apartment In Fishers

Modern gray living room at Spark Apartments 

Because the property management group is responsible for the property, they are required to complete the upkeep. You won’t have to buy a lawnmower or leaf blower, they will handle all of the maintenance for you! You’ll even have a maintenance team to service or repair all the features included with your place, like the appliances, furnace, water heater, and bathroom fixtures. Is your dishwasher not working? Just reach out to the maintenance team and have 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 differing lengths of time. If you relocate frequently for work, you could have the ability to secure shorter lease terms, allowing you to avoid a lengthier commitment every time you move.

Pros To Leasing or Buying A Condo

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

Although it is great to have benefits like maintenance experts standing by, apartments have restrictions on the changes you can make to your dwelling. But, If you have your own condo, the world is your oyster! You’re able to renovate, update, and paint however you like! A condo may be the right way to go if you want to establish yourself in an area and build equity. It is a considerable upfront investment, so be ready to remain put for some time to reap the most reward.

Some 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 will differ considerably between each apartment or condo community. Apartments might come with access to a pool, gym, clubhouse, dog park, and sometimes some walking trails. Most condos are a part of a community homeowner association, which means you’ll probably still get features including a swimming pool or pre-arranged landscaping as an ownership bonus.

Excited To Find Your Future Home In Fishers?

If you’re in the process of deciding between a condo or apartment in Fishers, you are going to find a great place to live at The District at Saxony Apartment Homes. We have roomy designs, helpful staff, and excellent amenities. Call and talk to one of our staff members, or simply schedule a tour to start.