A J.C. Hart Apartment Community in Fishers, IN

The Differences Between A Condo And An Apartment In Fishers

March 15, 2023
Exterior view of a blue and brown brick apartment building at Ivy Flats Apartments

The first time someone sees a condo, they are frequently amazed by how close it appears to an apartment. As you might have guessed, there is a logical rationale for the confusion as they are the same style of living space! Despite this fact, there are some key differences that may make one a better fit for you and your family members.

Is a condo or apartment in Fishers right for you? Let's explore what you should know to make the right call.

Ownership Is The Largest Factor

As previously noted, condominiums or condos and apartments are a similar style of living space. The largest difference between a condo or an apartment in Fishers is who owns it. Let’s investigate this in further detail.

An apartment is a rented unit under the ownership of a property management company. That property management group is then accountable for the entire community. A manager is on hand to take care of the community and its occupants. You don’t own the unit. Alternatively, you’re a Resident who consents to a lease with the property owner.

A condo is under the ownership of a solitary person or business, generally either a lessor or yourself. Although the unit is within a multi-family building in the same way as an apartment, each condo is owned by a private entity. You may have the condo under your name only, much like you’d purchase a house.

To keep it easy, the difference between a condo and an apartment in Fishers is that a condo is bought and sold in the same fashion as a house. That “house” is then part of a larger residential building or complex.

Advantages To Leasing An Apartment In Fishers

Modern gray living room at Spark Apartments 

Since the property management group is ultimately responsible for the unit, they have to take care of the upkeep. You’ll never need to buy a mower or snowblower, they will handle all of the property care for you! You’ll also have a maintenance team to service or repair everything that comes with your rental, like the appliances, furnace, water heater, and bathroom fixtures. Is your heater in need of repair? All you have to do is call your maintenance technicians and have it fixed at no added charge to you!

Another difference between a condo and an apartment in Fishers is most apartment leasing has options for various time frames. If you relocate regularly for your occupation, you could have the chance to locate flexible lease terms, allowing you to avoid a hefty rental contract at every location.

Pros To Living In A Condo

A gray bed with blue pillows and black side tables in a bedroom at Highpointe Apartments. 

Even though it is nice to have things like a maintenance team standing by, apartments come with limitations on what you are able to do to your dwelling. On the other hand, If you own a condo, the world is your oyster! You may paint, update, and renovate as you see fit! A condo could be your best bet if you wish to get established in a community and invest in property. It is a big investment upfront, so be prepared to settle for a few years to make it worthwhile.

A Couple More Considerations

A bright blue pool and an exterior view of an apartment building at Echo Park Bloomington Apartments. 

Another difference between a condo and an apartment in Fishers is amenities. You can expect these to vary considerably between every apartment or condo property. Apartments may provide access to a fitness center, pool, dog park, clubhouse, and sometimes one or more nature walks. Almost all condos fall within a community association, which means you’ll likely still get features like a swimming pool or landscape services as an ownership bonus.

Ready To Locate Your New Home In Fishers?

If you’re attempting to decide between a condo or apartment in Fishers, you are going to find a great place to come home to at Spark Apartments. We have spacious units, wonderful staff, and sought-after amenities. Contact and speak with one of our friendly leasing specialists, or simply schedule a tour to get started.