What is a major reason buyers choose to purchase a condominium instead of a single-family home?

A major reason buyers choose to purchase a condominium instead of a single-family home is that a condominium tends to be more affordable. Condominiums often come with a lower purchase price compared to single-family homes, making them an attractive option for first-time buyers or those looking to downsize. This affordability can be particularly appealing in urban areas where single-family homes may be out of reach for many buyers.

Additionally, the costs associated with maintenance and property upkeep can also be lower for condominiums since much of the maintenance is managed by the homeowners' association. However, while affordability is a compelling factor, it can also be influenced by other considerations like location, amenities, and lifestyle preferences, all of which may lead a buyer to see a condominium as a more viable option compared to a single-family home.