Choose based on how you want to live, not just your budget. A condo means the least maintenance and often great amenities, but shared walls and strata rules. A townhouse is the middle ground: more space, usually a small yard, still some shared costs. A detached home gives you the most control and privacy, but you're responsible for everything.
So you've worked hard and saved up a really good down payment. Congratulations, that's a massive accomplishment. Now, what's the right home for you?
There can be a big price difference between condos, townhouses and detached homes, but the right answer isn't always about budget. I've seen $600,000 detached homes, million-dollar townhomes and $2 million condos. Too often, people pick a home type based on where the price lands in their budget. The bigger question is: how do you actually want to live?
Condo
The least maintenance for you. No yard (most of the time), and no roof or windows to worry about. But you're sharing walls with neighbours, and there are strata rules to follow. Depending on the building, you might get some great amenities: a gym, pool, hot tub, sauna, golf simulator, dog run or car wash.
Townhouse
The happy middle ground. A bit more space, usually a small yard or common area out your back door, and still some shared costs, but generally more freedom than a condo.
Single family home
Considered the holy grail of homeownership, because you get the most control and privacy. But it also means you're the one calling the plumber, mowing the lawn, replacing the roof when it's time and dealing with insurance directly.
So which is right?
None of them is the right choice for everyone. It really comes down to how much maintenance you want to deal with, and how much your own privacy and space matter to you. If you're leaning toward a condo or townhouse, make sure you understand the strata documents before you buy; my free Buyer's Guide explains what to look for.
Want help weighing it up? Book a buyer consultation.