The fundamental reason condos do not appreciate value is that they are difficult to sell. Because condos are usually smaller than single-family homes, fewer potential purchasers exist. Furthermore, many condo organizations need clearance for any alterations or renovations a buyer may wish to make, which can be a barrier to potential buyers. Finally, the costs of condo maintenance fees can be too high compared to other housing options. These variables work together to make condos challenging to appreciate in value over time.