Apartment vs Condo: Unraveling the Distinctions

In this informative article, we will delve into the distinctions between apartments and condos in the Australian real estate market. Whether you're a prospective buyer, seller, investor, or a real estate enthusiast, understanding these differences can empower you to make informed decisions.

1. Apartment Ownership vs Condo Ownership

   • Apartments: When you buy an apartment in Australia, you typically own a portion of the building and share ownership of common areas with other residents. This type of ownership is often referred to as "strata title."
   • Condos: Condos, short for condominiums, offer individual ownership of the unit itself, along with shared ownership of common areas and amenities. Condo owners have more control over their unit compared to apartment owners.

2. Managing Maintenance:

   • Apartments: Maintenance in apartment complexes is typically managed by a strata management company. This includes upkeep of common areas, building exteriors, and essential services. Owners pay strata fees for these services.
   • Condos: Condo owners have a more active role in the maintenance of their units and common areas. They may be responsible for directly hiring maintenance services, giving them greater control over costs and quality.

3. Size and Design Variations

   • Apartments: Apartments in Australia often come in high-rise buildings with a variety of layouts and sizes. The design can be influenced by the developer's vision and market demand.
   • Condos: Condos can vary in size and design as well, but they tend to offer more customization options for individual units. Condo owners may have the flexibility to modify their spaces to suit their preferences.

4. Exploring Amenities:

   • Apartments: Many apartment complexes offer amenities such as swimming pools, gyms, and communal spaces. These are typically shared among residents and contribute to the overall lifestyle.
   • Condos: Condo developments also provide amenities, but the variety and quality can vary widely. Some condos may have fewer amenities, while others offer luxurious facilities to attract residents.