House: A house is typically a detached, single-family dwelling where the owner has full control over the property and land. This offers the most privacy and freedom for renovations but requires the most hands-on maintenance and higher upfront costs.
Apartment: Physically, an apartment is a unit in a multi-home building. The key distinction is that all units in an apartment complex are typically owned by one entity and rented out to tenants. Tenants have less flexibility to customize their space, but benefit from on-site professional management that handles all repairs.
Condo: A condo is often physically identical to an apartment, but each unit is individually owned. As a condo owner, you build equity and have more freedom to renovate the interior. However, you must follow rules set by a Homeowners Association (HOA) and pay monthly fees for shared amenities like pools or gyms.