Condominiums and Townhomes are a lifestyle choice and not always the best investment choice. If you don't like to cut the grass, trim the hedges, pull weeds, make ongoing repairs to the exterior of the Unit but enjoy having access to an exercise facility, swimming pool and the like at your disposal then you are making a lifestyle decision. I know quite a few DINKS (Dual Income No Kids) that love to live in the downtown area of a major city to have access to nightlife, restaurants, sporting venues, etc. who usually don't have time for the upkeep of a home.... again a lifestyle.
Single Family Homes in most Metropolitan Areas outperform Condos and Townhomes over the long term with regard to appreciation. Condo Association Fees are typically higher than most Single Family Home Owner's Associations... and since these are not tax deductible, I am only a fan when the Dues are very reasonable when compared to the level of amenity.
I can support a Condominium purchase if bought at a deep discount in today's market for a long-term hold. If you can rent it out and get positive cash flow, then I am always a fan of having someone else pay down a mortgage when I am getting the Tax Deduction and able to Depreciate it over 20+ years...
If you decide to purchase a Condo, make sure you understand the absorption rate of condos in your area and also make sure that the Condo Association is stable and well-financed. A full-time professional Realtor experienced in the Condo market can help you make sound decisions.