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What to know about this topic:
- Condos vs. apartments in definition
- Condos vs. apartments summary
- Condos' vs. apartments' social aspect
- Condos' vs. apartments' ownership
- Condos' vs. apartments' features
- Freedom and responsibility in condos vs. apartments
- Other factors
Condos vs. apartments in definition
A condominium may be simply defined as an "apartment" that a resident "owns". A condo takes part in a community, a piece of real estate individually owned yet including communal use of and access to common facilities.
Condos vs. apartments summary
Facilities that may be part of the condo agreement will include hallways, heating system, elevators and exterior areas, all executed under legal rights associated with individual ownership and controlled by an association of communal condo owners. Senior apartments are mainly of two broad types, retirement apartments in a building that may or may not be designated as 55 plus and a suite inside a retirement community, where there may be services provided including communal meals or healthcare, etc.
Condos' vs. apartments' social aspect
A condo or condominium offers investment potential but may not offer sufficient social contact. This also goes for an apartment in a regular building. In a retirement community with apartments or suites there is ample opportunity for social interaction. This is in fact what seniors find they love about moving into a retirement home, the social aspect of retirement communities.
Condos' vs. apartments' ownership
A condo is similar to an apartment but what distinguishes them is the form of ownership. If you have a coop retirement condo, you own, together with other tenants, the whole building and a share of this common property belongs to you. In an apartment there is no ownership and your rent pays for a roof over your head but you get nothing more for your money. You do not get anything out of your investment, no equity is acquired and once you quit paying your rent all obligations between you and the owner are terminated. In other words, apartments are much like hotels, in that one company owns the entire building and all the units within are rented out. Every condo belongs to an individual or a company and can be purchased or sold.
Condos' vs. apartments' features
Most new condos have spacious tastefully decorated halls, security, billiard, gym, and perhaps a communal hall or other communal areas.
Apartments in big cities usually have a lot of amenities but nothing in comparison to what you might find in some of today's retirement communities, where there may be onsite golf greens, exercise areas, fine dining and more. These communities follow a philosophy that might be phrased "you only retire once."
Freedom and responsibility in condos vs. apartments
Condos have lots of rules and regulations designed to maintain property values whereas apartments offer more freedom. Both Condos and apartments can offer freedom from chores outside your property. Those seniors who wish for an investment option may think of buying a condominium whereas an apartment is ideal for seniors who want complete independence.
There is a great variation in styles of condominiums, as well as a wide variety of prices from significantly lower than an apartment to much higher for luxury units. Most condos are fully furnished, but you can also find lightly to entirely unfurnished. Renting also gives you a lot more freedom than buying a property.
Other factors
Condos may have more established and permanent inhabitants whereas apartments are likely more temporary. Most seniors who wish to buy a condo are happy with the decision since they gain equity every month. Apartment leasing, on the other hand, gives flexibility and freedom if one does not wish to continue staying there.
IN-DEPTH REPORTSRetirement apartments
FEATURED
Chartwell McConnell Retirement Residence
801 4th Street East, Cornwall,
Ontario, K6H 7M8
Bilingual retirement community in Cornwall offering the social and supportive lifestyle you deserve.
Lifestyle Options: Apartments, Independent Living
FEATURED
Hygate Active Senior Living
215 Lexington Road, Waterloo,
Ontario, N2K 0H6
Resort-style retirement living in Waterloo. Hygate promotes active senior living with modern décor and amenities. Enjoy daily fitness, activity programs and fine dining. It's next level senior living.
Lifestyle Options: Apartments, Independent Living, Assisted Living
FEATURED
Edgewood Suites
270 Hagan Street East, Dundalk,
Ontario, N0C 1B0
Welcome to Edgewood Suites in Dundalk Ontario. This brand new community featuring quality rental units, superior amenities and small town charm is open now and available for immediate occupancy.
Lifestyle Options: Active Living
FEATURED
Chartwell New Edinburgh Square Retirement Residence
420 MacKay Street, Ottawa,
Ontario, K1M 2C4
Experience vibrant, contemporary retirement living in iconic New Edinburgh.
Lifestyle Options: Apartments, Independent Living
Chartwell Ridgepointe Retirement Residence
1789 Primrose Court, Kamloops,
British Columbia, V1S 0B7
Enjoy a flexible, independent retirement lifestyle surrounded by nature with the convenience of Downtown Kamloops."
Lifestyle Options: Apartments, Independent Living
Chartwell Stonehaven Retirement Residence
70 Stonehaven Drive, Kanata,
Ontario, K2M 3B4
Combining personalized service, beautiful natural surroundings and an engaging lifestyle in South Kanata.
Lifestyle Options: Apartments, Independent Living
Promenade Seniors' Suites & Retirement Residence
110 & 150 Rossignol Drive, Orleans,
Ontario, K4A 0N2
Located in Orleans, Promenade is surrounded by walking paths. From Independent Living, Assisted Living, or Memory Care, we offer a vibrant community focused on exceeding your expectations. Contact us today 613-229-7973.
Lifestyle Options: Apartments, Independent Living, Assisted Living, Memory Care
Orchard Gardens Seniors Community
295 Gerstmar Road, Kelowna,
British Columbia, V1X 7W9
At Orchard Gardens Seniors Community, we offer quality services and a variety of amenities. Choose from a studio or one-bedroom suite with independent living monthly packages.
Lifestyle Options: Apartments, Independent Living
Chartwell Montgomery Village Retirement Residence
155 Riddell Road, Orangeville,
Ontario, L9W 6R4
Welcome to Orangeville’s premier choice for independent and worry-free retirement living.
Lifestyle Options: Apartments, Independent Living
Astoria Luxury Apartments & Seniors’ Suites
130 & 136 Central Park Drive, Ottawa,
Ontario, K2C 4G3
New! Astoria redefines Senior Living with all-inclusive Luxury Apartments and Seniors' Suites in Central Park, Ottawa. Our vibrant community will focus on exceeding your expectations. Call us today 613-688-5045.
Lifestyle Options: Apartments
Stoneridge Estates by Estates of Niagara
2626 Mewburn Road, Niagara Falls,
Ontario, L2J 0G4
Stoneridge Estates presents an upscale boutique property setting a new standard for a 55+ Active Lifestyle Community. Nestled in Niagara's Wine region, offering engaging amenities. Sure to make every day extraordinary!
Lifestyle Options: Active Living
Parkland on the Glen
1665 The Collegeway, Mississauga,
Ontario, L5L 0A9
Parkland is located at Mississauga and The Collegeway next to the Glenerin Inn. We are surrounded by beautiful green space. For the past 6 years we've been awarded one of the top 3 Retirement Communities in Mississauga.
Lifestyle Options: Apartments, Independent Living, Assisted Living
The Shores of Port Credit - Verve Senior Living
280 Lakeshore Rd. W., Mississauga,
Ontario, L5H 0A5
The Shores is designed for vibrant living with the highest quality of personal care. Amenities include pool, fitness & exercise club, restaurant, bistro & cafe, a golf simulator lounge & wine cellar.
Lifestyle Options: Apartments, Independent Living, Assisted Living, Memory Care
Ravines Seniors' Suites & Retirement Residence
626 & 636 Prado Private, Ottawa,
Ontario, K2E 0B3
Located in Citiplace, Ravines is surrounded by walking paths. From Independent Living, Assisted Living, or Memory Care, we offer a vibrant community focused on exceeding your expectations. Contact us today 613-223-8506.
Lifestyle Options: Apartments, Independent Living, Assisted Living, Memory Care
The Village of Glendale Crossing
3030 Singleton Avenue, London,
Ontario, N6L 0B6
A true retirement hub featuring independent Living Apartments with full kitchens, Retirement Apartments, Full Service Retirement suites with walk out patios, Assisted Care, Memory Care and LTC.
Lifestyle Options: Apartments, Independent Living, Assisted Living, Memory Care, Long-term care
Park Place Seniors' Suites & Retirement Residence
110 & 120 Central Park Dr, Ottawa,
Ontario, K2C 4G3
Located in Central Park, Independent Seniors will find a home in our Seniors' Suites. Those needing more care find comfort in our Retirement Residence. We're focused on exceeding expectations. Call today 613-266-1354.
Lifestyle Options: Apartments, Independent Living, Assisted Living, Memory Care
Livita Queens Avenue Retirement Residence
1056 Queens Avenue, ON, Oakville,
Ontario, L6H 6R3
Nestled in a residential neighbourhood close to shopping, dining & community services, our residence is ideal for seniors who want to relax while pursuing their hobbies & staying active. All suites include full kitchens
Lifestyle Options: Apartments, Independent Living, Assisted Living
Heritage Place Retirement Residence
4151 Kilmer Drive, Burlington,
Ontario, L7M 5A9
Heritage Place is an independently owned retirement residence in Burlington, specializing in quality accommodation & services for the active senior, with 2 styles of living: apartment style suites & 2 bedroom bungalows
Lifestyle Options: Apartments, Independent Living
The Village of Taunton Mills
3790 Brock Street North, Whitby,
Ontario, L1R 0H2
The Village of Taunton Mills in Whitby presents several levels of service from seniors' apartments with full kitchens, retirement apartments with meals and services to memory care, assisted living and long-term care.
Lifestyle Options: Apartments, Independent Living, Assisted Living, Memory Care
Parkland on Eglinton West
4650 Eglinton Ave. W., Etobicoke,
Ontario, M9A 0E3
Parkland on Eglinton West offers Lifestyle Apartments, All-Inclusive Lifestyle and Supportive Lifestyle options for seniors. Parkland makes it easy for you to do more of what you love!
Lifestyle Options: Apartments, Independent Living, Assisted Living, Memory Care
Parkland Ancaster
558 Golf Links Rd., Hamilton,
Ontario, L9G 4W9
At Parkland Ancaster, we will offer a luxurious, vibrant, social lifestyle in a beautiful safe, premium home. Enjoy upscale amenities, creating a supportive space for you to thrive socially and lead fulfilling lives.
Lifestyle Options: Apartments, Independent Living, Assisted Living, Memory Care
Harmony Hill Retirement Community
1335 Benson Street, Oshawa,
Ontario, L1K 0W6
Harmony Hill offers comfort, security, and friendship, as well as a full range of amenities and services that you expect from a premier, active-living seniors community.
Lifestyle Options: Apartments, Independent Living, Assisted Living
Scarborough Retirement Residence
148 Markham Road, Scarborough,
Ontario, M1M 2Z8
A family owned and managed residence that offers seniors the opportunity to maintain their independence. Enjoy healthy Chef-prepared meals, daily life enrichment programs. We also offer short-term trial or respite stays.
Lifestyle Options: Apartments, Independent Living, Assisted Living
The Village of Wentworth Heights
1620 Upper Wentworth St., Hamilton,
Ontario, L9B 2W3
The Village of Wentworth Heights is a full-service retirement living community offering retirement apartments, full-service suites, assisted living and memory care.
Lifestyle Options: Apartments, Independent Living, Assisted Living, Memory Care
Delmanor Aurora
25 Butternut Ridge Trail, Aurora,
Ontario, L4G 3Z3
Delmanor Aurora provides a new twist on retirement living, in a five-star resort-style setting. Extensive amenities including saltwater pool, fitness centre, theatre, spa, market, ground floor patio and rooftop terrace.
Lifestyle Options: Apartments, Independent Living, Assisted Living
The Village of Erin Meadows
2930 Erin Centre Boulevard, Mississauga,
Ontario, L5M 7M4
Mississauga's unique continuum of care featuring a vibrant Main Street with Independent Living Suites, Retirement Apartments, Full Service Suites, Assisted Care, Memory Care and Long Term Care.
Lifestyle Options: Apartments, Independent Living, Assisted Living, Memory Care
The Village of Tansley Woods
4100 Upper Middle Road, Burlington,
Ontario, L7W 4W8
At The Village of Tansley Woods, we offer the full continuum of care - Independent Living Suites, Retirement Apartments, Full Service Retirement Suites, Assisted Care, Memory Care and Long Term Care all in one village.
Lifestyle Options: Apartments, Independent Living, Assisted Living, Memory Care
Sunstone Apartments
10775 Delsom Crescent, Delta,
British Columbia, V4C 0A8
Sunstone Rentals is the newest retirement community located in North Delta. A 70 unit independent living facility for those 55+, offers retirement community living for those downsizing.
Lifestyle Options: Apartments, Independent Living
Wintergreene Estates - Verve Senior Living
4950 Pasqua Street, Regina,
Saskatchewan, S4S 7L2
At Wintergreene, you'll discover a combination of independence, privacy, activities, health and wellness programs & friendly companionship to savour throughout your retirement.
Lifestyle Options: Apartments, Independent Living, Assisted Living, Memory Care
St. Elizabeth Village
1 Yates Gate, Hamilton,
Ontario, L9B 1T8
St. Elizabeth Village is a place where community comes first. The Village is set on an impressive 114-acre natural oasis of parks and ponds. Enjoy a non-stop slate of social activities in a vibrant, active lifestyle.
Lifestyle Options: Active Living
Parkland Ajax
3 Rossland Road West, Ajax,
Ontario, L1Z 0V1
Parkland Ajax offers independent and supportive options! Beautifully designed spacious suites, exceptional on site amenities and professional staff on site 24/7, Parkland is where you can live your best life!
Lifestyle Options: Apartments, Assisted Living, Memory Care
Royal Heights Inc.
30 Adelaide Avenue East, Oshawa,
Ontario, L1G 0B8
Royal Heights is designed with your active & independent lifestyle in mind. Luxury apartments feature en-suite laundry, stainless steel appliances & balconies. On site Fitness room, salt water pool, movie theatre & more!
Lifestyle Options: Active Living
WaterView Estates by Estates of Niagara
518 Queenston St, St. Catharines,
Ontario, L2R 7K6
WaterView Estates & Wellness Suites, offers a luxurious, vibrant Active Living community along the Welland Canal, steps from walk/bike trails, world class amenities and living options designed to create your best life!
Lifestyle Options: Active Living
