Should I Buy a Single Family Home, Townhouse, or Condo? Do condos appreciate slower than single-family homes?

Buying a home is exciting, but it also comes with plenty of decisions. One of the first questions I hear from buyers is whether they should purchase a single family home, a townhouse, or a condo. Another common concern is whether condos appreciate more slowly than single family homes. As a realtor in Seattle, I have guided buyers through this decision in neighborhoods across Bothell, Redmond, Kirkland, and Seattle, and I can confidently say that there is no universal answer.

The right choice depends on your priorities, your budget, and how you want to live. In this blog, I'll explain the differences between these property types, what to expect from HOA fees, and how appreciation compares over the long term so you can make a more informed decision.

It Starts with What Matters Most to You

Many buyers assume there is a "best" property type, but I always encourage looking at four key factors first. Once three of these are clear, the fourth often becomes obvious.

The four decision drivers are:

• Location

• Budget

• Type of home

• Features you want

For example, you may want to live in Kirkland because of its lifestyle and convenience, but your budget may not comfortably stretch to a single family home. In that situation, a newer townhouse with upgraded finishes could offer the balance you're looking for without giving up your preferred neighborhood.

Instead of asking which property type is better, I recommend asking which option supports your priorities the best.

Understanding the Difference Between These Home Types

The biggest distinction between a single family home and a townhouse or condo comes down to ownership and maintenance.

A single family home typically includes both the home and the land it sits on. It offers greater privacy, more outdoor space, and fewer restrictions, but it also places all maintenance responsibilities on the homeowner.

Townhouses and condos work differently. In most cases, you do not own the land separately, you share walls or floors with neighboring homes, and you pay monthly HOA dues. In 2025, those fees can often exceed $500 per month, depending on the community and amenities.

Those HOA dues usually cover expenses such as:

• Roof and exterior maintenance

• Siding repairs

• Private roads

• Parks and shared outdoor spaces

• Common area maintenance

• Sometimes water and sewer services

For many buyers, these services reduce the amount of maintenance they need to manage themselves.

HOA Fees Are Part of the Bigger Picture

HOA dues are sometimes viewed as an added expense, but I encourage buyers to think about what those fees actually provide.

If living in your preferred neighborhood would otherwise require spending significantly more on a single family home, HOA dues can become what I describe as a lifestyle tradeoff. They allow many buyers to enjoy the location they want while purchasing a home that better fits their budget.

That said, not every HOA operates the same way.

Poorly managed homeowners associations may issue special assessments, which are one time charges used to pay for unexpected repairs or major projects. Before moving forward with any purchase, I always recommend reviewing the HOA's financial statements, reserve funds, and meeting records. These documents provide valuable insight into how responsibly the association is managed and whether future expenses are likely.

Do condos appreciate slower than single-family homes?

This is one of the biggest myths I hear from buyers.

Many people assume condos and townhouses will always appreciate more slowly than single family homes. While short term market conditions can vary, long term trends tell a different story.

Looking at median price per square foot data across King County over the past decade, townhouses and single family homes have appreciated at very similar rates. That means choosing a townhouse or condo does not automatically mean sacrificing long term value.

Appreciation is influenced by several factors, including location, inventory, local demand, and the overall housing market. The property type is only one part of the equation.

A well located townhouse in Redmond or a desirable condo in Seattle may perform exceptionally well over time if demand remains strong.

Focus on the home that fits your life today.

The best investment is not always the largest home. It is often the one that allows you to live where you want while staying financially comfortable.

Some buyers value a private backyard and complete ownership of the land. Others would rather spend less time maintaining a property and more time enjoying everything their community offers. Neither approach is inherently better. It simply depends on your goals.

Buying a home should be about creating the lifestyle you want, not chasing assumptions about one property type being superior to another.

Every buyer's situation is different, which is why I never recommend choosing a home based on general advice alone. By carefully balancing your location, budget, preferred home type, and desired features, you can confidently narrow down the option that fits your needs today while still supporting your long term goals.

If you're comparing homes in Bothell, Redmond, Kirkland, or Seattle and want guidance tailored to your situation, Sankari Realty can help you evaluate every option with confidence. Whether you're considering a condo, townhouse, or single family home, working with experienced real estate agents in Redmond WA can help you make a decision that aligns with both your lifestyle and your future plans.