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- When it comes to purchasing a home that isn’t a townhouse, you have a few options at your disposal. Typically, the two main options are condos or apartments. It might seem as if apartments and condos are basically the same, but this isn’t the case. - Source: Internet
- There’s also the possibility of buying a condo if the owner is selling. That’s never the case with apartments since, as we mentioned before, they are owned and managed as an entire building or community. In case the condo is sold, you might find yourself having to look for another home as the new owner might not be willing to continue renting it. In this regard, the safest choice when faced with the condo vs. apartment conundrum would be to go with the latter, if you don’t plan on buying anytime soon. - Source: Internet
- Another thing you should know is that apartments are managed by professional companies, meaning that there is usually 24h maintenance available for whenever something goes wrong in the home. However, living in a condo means that you would depend on the owner’s availability and willingness to help out if any maintenance is needed. For condos, you might even have to pay the maintenance costs yourself, but it really depends on the owner. Keep in mind that even if the landlord agrees to cover the maintenance costs, he/she could take longer to make repairs. - Source: Internet
- Both condos and apartments do have some things in common. For example, they are both offer excellent locations. For a busy city such as Toronto, having a great location is imperative. - Source: Internet
- As far as inventory goes, nationwide, you’re much more likely to find a wider selection of apartments for rent than condos. According to our study about construction, approximately 346,000 new apartments were delivered in 2017 with the majority of them being built in Texas. If you’re willing to relocate, make sure to head towards cities like New York, NY, Dallas–Fort Worth, TX, Houston, TX or Los Angeles, CA where the number of new apartments exceeded the 13,000 threshold during 2017. - Source: Internet
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