Apartments vs Condos

If you haven’t been keeping up with housing trends, you can just look them up right now and you will notice a downward trend in the number of houses being bought or sold annually. This is because houses are really expensive and it is next to impossible for someone with the average livable income to afford them, secondly, people are no longer seeing the use of buying a house and consider them to be more inconveniencing rather than beneficial. So, most millennials are choosing to stay in apartments.

Of course if you are interested in permanent property ownership, you cannot really expect that from an apartment, so this is where condos come in. Now for a lot of people, the words condos and apartments are used interchangeably because they genuinely believe that they are the same thing. However, there is a difference between the two and that is permanent property ownership. You cannot buy an apartment, but you can lease for a certain period of time and once the lease expires, you can either renew it or move out. With condos on the other hand, once you have made all the payment, the condo is then permanently yours.

Condos also happen to be more luxurious than apartments, so if you are looking for a better look and design, condos are the way to go. Condos also happen to offer additional amenities to their residents like a community pool or fitness center etc. in exchange for the additional HOA fee. There are plus points for both options but condos are the way to go for people who want to invest in permanent property. Currently there are many projects like sugar wharf condominiums being launched and open for bookings in case you are looking for potential options to choose from.