Condos, Townhomes, or Single Houses Which is a Better Value?

With such an explosive real estate market in 2021, just about every city from America and Canada saw record setting sales volume. In fact, many places don’t have enough houses for sale to meet the demand, and those areas housing market went through the roof!

This was great for sellers, and buyers too, if they were able to obtain a mortgage to purchase a property before the recent rate hikes. Although the combination of rising interest rates, and skyrocketing property values might slow things down a bit during 2022.

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That remains to be seen…

So, what about budget friendly buyers, who are looking to find affordable real estate for sale, that gives them what they need to maintain their lifestyle. Well, many buyers are reconsidering what types of properties provide the best value overall, condos, townhouses, or single-family homes.

Let’s take a deep dive into the pros and cons for each!

Condos for Sale

If you have ever considered buying a condo, then you already know that there are many things to consider beforehand. Most condos are governed by a Homeowners Association (HOA) like other master-planned communities. However, condos can have strict rules regarding children, and age requirements because many are geared towards 55+ buyers, looking to retire in style.

After you know about those potential issues, its important to learn how much the monthly condo fees will be, and what they exactly include. Make sure that there aren’t any special assessments assigned to the units your interested in buying. Or, if there are assessments find out why, how much they are, and how long your unit will be assessed this extra amount for.

One good reason for a special assessment charge would be if the condo HOA decided to replace the roof on all the condo buildings. This could add a ton of value to the property in the long run and may be safer and look much better as well.

However, condos are typically much less expensive than single-family homes are, and slightly higher than townhouses.

Townhomes for Sale

These are like condos because there are typically multiple units per building. But townhomes are usually limited to 4 per building, where condos can have dozens. Since townhouses are connected, they are governed by an HOA as well. They are responsible for maintaining the common grounds throughout the neighborhood, paying the guard gate fees, and any special assessments, issues, or problems.

There are amazing townhouse communities everywhere and you can find them for affordable prices, or ultra-luxury townhomes with price tags to match.

Depending on where you purchase a townhouse from, will determine the rate of appreciation you receive after years of homeownership. Although condos and townhouses appreciate less that single family homes.

Single-Family Houses for Sale

The most popular type of real estate are single-family homes because they offer a plethora of benefits that families and homeowners get to enjoy. They are typically more expensive to purchase than condos or townhouses, but you will get higher appreciation and more ROI in the long run.

You can buy single family homes within master planned communities that are governed by an HOA and have monthly fees associated with it.

Or you can find single-family properties outside of HOAs, and these properties provide the ultimate freedom of lifestyle since there aren’t any HOAs governing them whatsoever, and no fees either.

Still, you must be able to afford the initial purchase price so check them out online to determine what you can comfortably afford.

If you research the areas your interested in living before trying to buy a house, then you can find some great deals at affordable prices, especially if you’re willing to do some work to make the property pristine.

Otherwise, there are many luxurious single family home communities that offer resident only amenities like swimming pools, fitness areas, indoor gyms, and more.

Moreover, many single-family neighborhoods are set around championship golf courses, where they provide challenging golf for pros, and easier golfing available for the novice.


In today’s real estate market, it can be difficult to buy a house because there is so much competition. There are professional mortgage brokers and real estate agents who you can hire to help guide you through all the important factors for success in a fast-moving market.

Just remember that condos, townhouses, and single-family homes all offer something different that you can benefit from, depending on what your current situation is. Hopefully you can see the pros and cons clearly and make the best choice for you and your family.