The first question is, Why are you considering a condo as opposed to a single family property? Condo values typically appreciate very slowly (if at all), and they usually take much longer to sell. Yes, there is a convenience factor (no lawn to mow, building maintenance is covered), but you're roped into paying a monthly association fee; this fee does not decrease. Ever. And if a situation ever arises where the condo building needs major repair, there's a strong chance you'll be assessed for a portion of that expense on top of your monthly condo association fees. If you plan to reside in a condo for years to come, then this may not be a concern. But if you ever plan to sell, prepare for a potentially long listing period and very little, if any, return on your investment. You should consider purchasing a detached, single family property.