A condo, co-op, or town home will provide you with a more maintenance-free environment than a single-family home. The condo complex will take care of much of the maintenance and upkeep that can become time-suckers for individual owners. Watering and mowing the lawn, trimming trees, shoveling snow, and tending to the pool are all the responsibility of the association. You can enjoy having a lawn without the fuss of cutting the grass when you'd rather be doing something else.

This can be a big plus if you are making the leap from renter to owner and do not feel quite ready to deal with the new responsibilities that come with owning a house on a lot. Perhaps you travel a lot on business and worry you might not be around often enough to do a good job keeping up with the maintenance. Whatever your reason, a condo or town home may be more adaptable at different times of your life.