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Among the benefits of owning a condo or town home, compared to a single-family home, are lower property taxes, lower homeowners insurance premiums and lower utility bills. The Home Owners Associations take care of landscaping, pools, tennis courts and other amenities, and with smaller sq ft there is less to take care of and you will spend less money on upkeep. HOAs also take care of security and use a professional management company to handle operations. You can verify at 2007 National Survey that 7 out of 10 townhome and condo residents are satisfied with their purchases. Zogby International for the Foundation for Community Association Research periodically does surveys sent to condo and town home owners to identify trends and satisfaction.

The survey reports that more than 60-million Americans live in about 300,000 homeowner associations, condo communities, cooperatives and other planned developments, a 25% increase since 2000.

In November 2007, the National Association of Realtors reported that a 13-month supply of condos was on the market and expects the oversupply to last through 2009. First time and 2nd home buyers are recognizing now that there are bargains right now in the condo market. Some say that living in a condo is similar to buying a share in a closely held, publicly traded real estate holding company with a volunteer board of directors.