It is also a matter of personal taste. Many people want a yard, and having fee simple ownership gives them a sense of ownership that is not present when you own a inium. 500 a month is not cheap. That is 6000 a year. Also note that while your HOA dues do provide a homeowners insurance policy, many condo owners purchase a supplemental policy as the HOA provided policy may not be satisfy your personal insurance requirements.
If you take personal taste out of the equation then it “appears” that single family detached homes are holding up better then condos but that is only a speculative statement by me with no hard stats.
Finally is your condo a townhome or is it detached in any way? Having people above/below/sharing walls is also a major detraction but that is again, my opinion.
