When its time to buy your own home in the city, it’s always better to do a little background research first. You will be surprised at the number of options available as residences. These can range from villas and villaments to townhouses, flats, apartments and condominiums. Knowing the differences between these different types of residences can sometimes get a little daunting, so here’s a little clarity on apartments and condominiums to get you going:
The apartment has its origins in the Italian language from the word ‘apartimento’ and refers to single-family use homes. Apartments and flats are terminologies that refer to the same type of single-family homes that exist within high-rise buildings. While the term ‘flat’ is commonly used in British English, the term ‘apartment’ is more common to American English. Apartments also refers to single-family homes that can be spread across one or two floors and has luxury connotations. According to the American way where apartments originated, these residences are meant for renting out, and can’t be owned by the individual living in them. The apartments in Trivandrum are usually owned by a property management company or a single entity.
The term ‘condominium’ is commonly used across America and refers to apartment-like homes. Also referred to as ‘condos’, these are privately-owned residential properties that may be spread across two floors and are similar to apartments. The difference is that owners of condos have the rights to do what they want with these homes; they can use them privately, sell them or rent them out. They can make alterations within its interiors, and are responsible for maintenance of the interiors as well. Condominium owners also have to regularly pay a home owners’ association fee for maintenance of common exterior amenities and facilities.
These terminologies mean different things in India however. While condos aren’t a popularly used term here, the term apartment is also used differently in India. Apartments and flats in India refer to single-use residences that can be privately-owned or rented out. They are located within high-rise buildings and boast of a number of luxurious amenities and well-connected locations. A monthly fee has to be contributed towards maintenance of its common facilities and amenities too.
Hope this information was helpful!