Condos vs Apartments

condo/ˈkänˌdō/A condo (short for condominium) is a private housing unit inside a larger building or community where you own your specific space and share ownership of the outdoor areas and facilities. How Ownership WorksYour unit: You own the inside of your home (the walls, floors, and rooms).Shared spaces: You share ownership of the hallways, elevators, gym, pool, and yard with your neighbors. Association fees: You pay monthly money to a group (the condo board) that cleans, fixes, and takes care of the shared spaces and outside building. Condo vs. Apartment Condo: You buy and own the home yourself, or you rent it from a private owner who bought it. Apartment: You rent the home from a company that owns the whole building