It’s not easy looking for your own space, especially in the city. There is so much you need to consider, and the cost of living is not necessarily cheap. If you’ve been browsing through the classifieds and is still not sure whether a condo or a single-detached apartment is for you, here are a few differences that you may want to consider.
Rates depend on the floor space or the location of your dwelling, but if you’re comparing a condo and an apartment with the same specifications, condos often have more expensive rates than apartments. This is because aside from your rental fees, you’ll also need to pay for maintenance, administration, and association dues, which are over and above your electricity, cable, and internet fees. Apartments, on the other hand, usually require only rent. Some incorporate electricity into their monthly dues, but have rules regarding the number of appliances that can be brought in. Others just require rent outright, leaving you to manage your utilities on your own.
Condos often have the upper hand when it comes to amenities. Aside from having security 24/7, you usually have access to common areas such as pools, gyms, and even gaming rooms. Apartments are straightforward dwellings, but if you manage to get a flat inside an exclusive village, then you can try visiting the clubhouse.
If you have anything that you want done in your rented space, condo and apartment managers often have a set of rules regarding what you can and can’t touch. Some who allow upgrades usually ask for extra fees in case you end your lease and they’ll need to patch a few things up upon your departure. Others don’t allow any construction at all. Talk to your landlord to arrange for a compromise.
Condos have limited parking spaces for its tenants, which also requires a separate payment from your rent and dues. Not all apartments offer parking spaces, but those that do often incorporate its cost to the rent.
Many overlook this issue, but it’s actually an important consideration when getting your own place. There are many condos, especially those in business districts, that don’t allow gas ranges in their buildings due to the risk of fire. Electric stoves are instead recommended, but they can really make a mark on your monthly electrical bill. Apartments, as long as they are single-detached units, usually have no rules regarding stoves. However, landlords may refrain you from cooking pungent smelling food in consideration to other tenants.