For a condo, you’ll want to take a close look at the overall age of the complex, the associations insurance policy, and the bylaws. I lived in a condo for six years as my first place and fortunately didn’t experience any nasty assessments. But the condos were relatively new (hence not needing major repairs) and they had a good association insurance policy in case anything happened.
For expenses, I only had a few major ones during the six years I lived there:
-Replace a garbage disposal (a few hundred)
-Paint the condo (did this myself, so only a hundred or so for the paint)
-Replace light fixtures (got some at tag sales)
-Replace all the carpets before selling (around $1k)
-Refinish the bathtub ($300)
I actually preferred the condo to the house I live in now expense wise. I was only responsible for the items on the inside (drywall in), not the exterior (walls, roof, driveway, sidewalks, lawn, etc.), which simplified maintenance and kept the costs down. The person sold it with appliances that were new-ish, so they didn’t break down. At the time I bought the complex was 12 years old, so not shiny new but not so old that things needed replacement. I also sold the condo for $60k more than I paid, which was the down payment on the house. I will caution that condos typically don’t hold their value as well as homes do. When I look on Zillow the condo is worth $30k less than I sold it for 10 years ago. At the height of the crash it was worth about what I had paid for it, so had I held on a few more years I only would have broken even on the sale.
Definitely some things to think about when comparing a condo to a home.