For many buyers, especially first-time buyers, the biggest question today is simple:

“Can I actually afford a home?”

With prices remaining challenging in many areas, it’s easy to feel like the options are limited. But sometimes the solution is not waiting for the market to completely change — it’s looking at different possibilities.

One option many buyers overlook is expanding their search beyond traditional single-family homes.

Condos and townhomes can provide a more accessible entry point into homeownership, offering lower purchase prices, different lifestyle options, and new opportunities for buyers who feel priced out of the market.

Many buyers begin their search by looking only at detached single-family homes. While that may be the ideal choice for some, it can also mean missing out on other properties that could better fit their budget.

Today, there are more opportunities in the condo and townhome market compared with recent years. More inventory means buyers may have more choices, less competition, and more time to make thoughtful decisions.

For first-time buyers, this can be especially valuable. A condo or townhome may provide the opportunity to enter the housing market sooner instead of waiting years to save more money or compete in a more expensive segment. Of course, availability depends on the local market, but being open to different property types can help uncover options that may have been overlooked.

One of the biggest advantages of condos and townhomes is often the price point.

Because these homes are typically smaller than traditional single-family properties, they may come with a lower upfront cost, which can make monthly payments and the overall purchase process more manageable.

For buyers who do not need a large yard, multiple bedrooms, or extra space, this type of home could provide exactly what they need without stretching their budget too far.

However, price is not the only factor to consider.

Buyers should also look at things like homeowners association (HOA) fees, maintenance responsibilities, community rules, and long-term goals before making a decision.

The right home is not just about the purchase price — it’s about finding a property that fits your lifestyle and financial plans.

Before deciding which type of property is right for you, it helps to understand how each one works.

A single-family home usually offers the most privacy and space because you own both the house and the land it sits on. The trade-off is that maintenance and repairs are entirely your responsibility.

A townhome typically provides more space than a condo while sharing some walls with neighboring properties. Owners usually have more control over their home but may still have certain community responsibilities.

A condo generally means owning the interior of your unit while sharing ownership of common areas with other residents. This can mean fewer maintenance responsibilities, but it often comes with HOA fees and community rules.

Each option has its own benefits, and the best choice depends on your budget, lifestyle, and future plans.