Jaime’s Real Estate Brief: Condo or Townhome?
- Patriot Real Properties
- Oct 7
- 2 min read
Condo or Townhome: Which Means Better Wealth Over Time?
with Jaime Hechtman Ulloa
Call/text: 631.664.0268
When buyers tell me they’re “priced out” of a single-family home, condos and townhouses are often the first options I explore with them. They offer affordability, shared maintenance, and a pathway into ownership. But when you zoom out, they don’t always deliver the same long-term payoffs, and the differences matter more than you think.
What the Numbers Say
Over the past decade (2014–2024), single-family homes appreciated roughly +87.3%, townhomes +86.5%, and condos +82.7%. That’s close…but there’s a pattern behind those differences.
In many markets, townhomes tend to hold value more steadily than condos because you own the land, carry fewer “unknowns” tied to common property, and avoid some of the volatility that condo associations bring. Townhomes also attract a broader slice of buyers—families, professionals, even downsizers, whereas condos are often more specialized.
Homesource sites note that condos often appreciate more slowly than townhomes in many suburban and commuter-adjacent markets. And when condo fees rise….especially in aging buildings needing repairs—buyers feel that pinch.
That said, condos still shine in denser, transit-connected locations where walkability, amenities, and low maintenance are highly valued. In a building with a gym, onsite retail, or proximity to the rail line, condo living makes sense for many, and can unlock value if the location is strong.
Why Local Context Changes the Equation
Here on Long Island, rising land costs, limited developable lots, and white-hot demand for commuter-friendly housing push the differences into sharper contrast. A townhome that’s five minutes from the LIRR may outperform a condo in a less-loved building.
When I help clients, I dive deep into local trends: HOA history, projected assessments, building reserves, comparables, and then weigh those against your lifestyle and investment goals.
What to Watch (for Any Buyer)
HOA / association fees & assessments: These eat returns quickly in a condo.
Reserve funds & age of building: Older buildings often require major repairs (roof, plumbing, siding).
Land ownership: With townhomes, you own more of the plot…this often insulates you from volatility.
Amenities & location: Condos win in prime spots with walkability and transit; townhomes win in broader markets with solid demand.
Supply and demand: If too many condos flood the market, values soften faster than townhomes.
My Take (and the Bottom Line)
Both condos and townhomes can build wealth—but how well depends on where you buy, what building you choose, and how you manage it. For buyers who want more predictability, a townhome in the right location often provides a steadier climb. For those prioritizing lifestyle, proximity, and amenities, a high-quality condo in a walkable, transit-accessible area can make sense.
If you’re weighing the options, and want to see real comps, future trends, or projections in your ZIP code—let’s talk. I’ve spent countless hours assessing this in Long Island’s neighborhoods. I’m here to help you make the smarter choice.
Jaime Hechtman Ulloa
631.664.0268
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