If you live in a condo, it's your home, but it's not a house. That's an important distinction, particularly when it comes to maintenance. Consider if you owned a detached single-family house and the roof needs to be repaired.

What is the difference between a house and a condo?

What's the difference between a house and a condo? ... Owners of single-family homes purchase the home structure and the land it sits on, while condo owners own just the unit they live in, not the larger building or the land on which it's built.

Is a condo an apartment or a house?

The biggest difference between a condo vs. apartment is ownership. An apartment is defined as a residence that is rented, often as part of a larger residential building. A condo is similar in structure to an apartment — usually a unit within a larger residential building — but condos are owned instead of rented.