The Difference Between a Condo and Apartment

What would you say if someone asks you to explain the differences between a condo and apartment? There’s a very good chance that you might not have the necessary information to answer that question properly like most of us. The concept of condominiums or condos is still new and unfamiliar to the people of Bangladesh. We tend to consider both to be the same. However, there are some differences that are significant enough to make them distinct from each other. Both of these types of dwelling have their appeals and neither is essentially better than the other; it’s all about your priorities.

The Main Focus

The differences between a condo and apartment begin at the very definition of what they are and what you are getting for your money. While you are getting a home when you buy an apartment, you are getting much more when buying a condo. Condominiums are more about the compound than the living quarters itself. It is an entire complex that is aimed to attract residents with all its additional amenities and features. On the other hand, the living quarters is your primary concern when it comes to residential apartments. Sure, the features of the property play a major role, but not as much as in the case of condominiums. Residential apartments are also less expansive as well. You might ask, ‘but what of location? Well, the location of the property is always important, no matter the type.

Amenities

Perhaps one of the biggest differences between a condo and apartment are the amenities each type tends to have. As we mentioned, amenities and features are the main attractions of a condominium. People look for certain facilities in condos that they consider to be vital. Condominiums like the Rightway Airport Plaza in Dhaka tend to have gyms, community halls, children’s play areas, and super shops. These extra facilities and features might not be present in a residential apartment building. However, that doesn’t mean residential apartments should be disregarded either. Many residential buildings today have modern and luxurious features that can rival condos. While the facilities may not be to the same extent as available in condos, they can offer the utmost convenient living. Full backup generators, lifts, and well-maintained parking are just some features you can expect in almost all apartments today.

Number of Homes

One of the most easily identifiable difference between a condo and apartment is the sheer size and number of homes within the property. As we mentioned, condominiums are complexes. They tend to have more than one high-rise building with each being more than ten stories high. That is not always the case for residential apartments. The number of floors in residential apartments varies, ranging from four to five stories to more than ten. As such, condominium complexes usually have a lot more homes than that of a residential apartment. This can be looked at both favorably and unfavorably depending on the residence and their interaction with each other.

Security

Security is another marker that can be used to easily differentiate between a condo and an apartment. Safety and security is a major concern for people living in urban areas and megacities like Dhaka. So if you have more people living in a complex, it’s understandable to have tighter security. When passing by a condo, you are likely to see several guards at the door, security cameras, and other modern security measures in place. Condo management authorities have more resources than residential apartments and utilize them to avoid major mistakes in home security that are often found elsewhere. Residential apartments, however, usually employ enough security to ensure peace of mind for their residence. Many of the buildings have 24/7 security guards posted at the gate and place CCTV cameras at entrances, exits, and different floors.

Space

Another one of the clear differences between a condo and apartment is the space required to house this type of dwelling. Residential apartments have limited features and amenities that don’t require a lot of space. Even with leaving necessary empty space for adequate air flow and natural light, the space required is significantly less than that of a condominium complex.

Exclusivity

Condos are exclusive properties, to say the least. The cost, space, and features needed to build a complete complex makes them rare. Even if you have the necessary investment, finding a piece of land that is large enough to accommodate all the amenities is difficult. Which is why there are only a handful of condominiums in Bangladesh today. However, this also makes them quite attractive to home buyers. Many see buying a place in condominiums as the chance of a lifetime. On the other hand, residential apartments can be found everywhere, and it is the main source of housing for the masses.

Both condos and residential apartments have a ton of aspects that make them attractive. Which one of these is right for you will depend entirely on your preference. But as far as differentiating goes, you should probably have the answer to the question ‘What are the differences between a condo and apartment?’