Hard to sell in a buyer's market.
Restrictive clauses,covenants, and restrictions.
It's an apartment that you buy.
Relatively little privacy.
Relatively cheap to purchase.
Low or no outside maintenance.
Relatively cheap/easy to furnish.
My first independent residence was a condo, but I was only a renter. The first property I bought was a townhouse - better, but still had the 1st three disadvantages listed. Of the two, I'd pick townhouse or duplex over a condo if I could. Less neighbor noise, comparable ease of maintenance, slightly more expensive to buy, slightly easier to sell.
In either case, read the CCR's carefully and meet the board members before you buy. Be sure to thoroughly understand what you're responsible for, what the association is responsible for, all fees involved, and what you can and cannot do with your property.
"Love is not the dying moan of a distant violin, itís the triumphant twang of a bedspring."
S. J. Perelman