It’s no secret that, in today’s market, buying a home for your family is expensive. If you don’t have your heart set on a single-family home, a cheaper alternative to consider is a condominium. According to Realtor.com, condos are typically priced 5%-7% lower than single-family homes.
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Not only do condos generally have lower purchase prices, but also the monthly HOA fees cover maintenance, so you won’t need to budget for unexpected repairs. Additionally, condos often come with shared amenities like pools, gyms and playgrounds — things that might be unaffordable if you choose to purchase a single-family home.
Here are some U.S. cities to consider buying a condo, according to real estate agents .
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San Antonio, Texas
- Median condo price: $167,000
Real estate agent Chris Hoffman said that San Antonio offers relatively affordable housing compared to many other major cities in the United States.