>>62585005
Financially it's probably not a great investment. Condos don't tend to appreciate in value at the same rate as a house does, at least in my area. You're also never going to fully escape being a renter if you buy a condo, even if you pay off your entire mortgage since most condos have HOA fees that never go away.

Even so, I'm considering buying a condo one day. I'm single and work in a city, and don't have much interest in owning a house in the suburbs and doing all the yardwork/home maintenance on my own. So my opinion is that a condo is a nice step up from being just a renter, but probably isn't a good avenue for building wealth. It's more about the convenience.

>>62585005
condos have shit resale unless located in an area that sees sudden development/improvement, they charge association fees separate from your mortgage (just the way it goes with shared property like roof, walls, parking lots, etc), and those fees may not be the whole cost either (sometimes you need to pay a special assessment if the association didn't collect enough for necessary work). but you don't need to do most of the maintenance you would have to do with a single family property, and you can build equity if that's what you want. look really carefully at the association docs and if they are less than enthusiastically forthcoming, assume you're gonna get raped by fees

>>62585005
fuck that

you're in an HOA and they can just bill you for expensive repairs whenever they deem it necessary to repair them

A/C nearing end of life? you're paying 10k

in a high rise and the elevators need replacement? 6k

building paint, roof replacement, balcony repair, windows, pool equipment, they will bill you for all that shit and there's nothing you can do

if you buy a unit and you're next to barking dogs, loud music, a smoker, someone who likes to party, kids who run around in the hallway, you're fucking stuck there, it's ~8% to sell a house

so many of them have rental restrictions too, some restrict the number of rental units in the complex so if you get in a bad situation and need to rent it out, the HOA can tell you "too bad, we're already at our max number of units that are rentals".

then there's just the normal home maintenance costs. water heaters fail, toilets leak and run up high water bills, refrigerators die, disposals break, washer/dryer dies, kitchens and baths become dated, all shit that you are on the hook for as a homeowner that renters don't give a fuck about, although to be fair this list is a LOT less than if you owned a home and had to deal with a yard

just rent an apartment, that's where the younger people are anyways... i bought multiple homes, picked intentionally white suburbs, and i ended up not getting any neighbors below 60 years old

>>62586016
I'm going to say having spent the last 15 years in the rental market that a condo is far better than an apartment. Its not a house but apartments hire a much lower tier of employee than a condo tower does and the landlords business is to always try and get out the longest term tenant and replace them with a higher paying fool. Way more random nonsense from the apartment management too.

Yes, but it depends on the condo's montly fees, as the others anons said. You will basically pay rent to live in your house for the rest of your life. Kinda cucked, right?

where live apartment = renting, condo = owning, and a townhome is a style of building that can be either an apartment or condo
I realize it's not like this in most places

>>62585005
I would rather just live with my parents than in anything else with shared walls