Triple-Decker vs. Condo: Pros and Cons

In Boston, you'll often find yourself choosing between two very different types of properties: the iconic triple-decker and the modern condo. Both have their charms, but they offer vastly different lifestyles and financial implications.

As someone who's lived in both (and helped countless buyers navigate this decision), I'm here to break down the real pros and cons of each option.

What Are Triple-Deckers?

Triple-deckers are Boston's signature housing type - three-story buildings with one unit per floor, typically built between 1890-1920. They're often converted to condos, but many remain as single-family homes or multi-family properties.

These buildings are beloved for their character, but they come with unique challenges that modern condos don't have.

The Financial Reality

Let's break down the real costs of each option. I'll use a $600,000 budget as an example:

Triple-Decker Costs

Condo Costs

Maintenance: The Big Difference

Triple-Decker Maintenance

• You're responsible for everything: Roof, foundation, plumbing, electrical
• Older systems: More likely to need repairs or replacement
• Energy inefficiency: Higher heating and cooling costs
• Historic preservation: May need to maintain original features
• DIY potential: You can do some work yourself

Condo Maintenance

• HOA handles exterior: Roof, common areas, landscaping
• You handle interior: Appliances, fixtures, flooring
• Modern systems: Less likely to need major repairs
• Energy efficient: Lower utility costs
• Professional management: Issues are handled by experts

Lifestyle Considerations

Choose a Triple-Decker If:

• You love historic character and charm
• You want more space for your money
• You enjoy home improvement projects
• You want outdoor space (yard, deck, porch)
• You prefer more privacy
• You're handy and can do some repairs yourself

Choose a Condo If:

• You want modern amenities and finishes
• You prefer low-maintenance living
• You want predictable monthly costs
• You value convenience and services
• You don't want to deal with major repairs
• You prefer urban, walkable locations

Investment Potential

Both property types can be good investments, but they work differently:

Triple-Decker Investment

• Appreciation potential: Historic properties often appreciate well
• Rental income: Can rent out floors or entire building
• Value-add opportunities: Renovations can significantly increase value
• Market volatility: Values can fluctuate more than condos

Condo Investment

• Stable appreciation: More predictable value growth
• Easier to rent: Lower maintenance for rental properties
• Liquidity: Generally easier to sell
• HOA restrictions: May limit rental options

Common Mistakes to Avoid

Triple-Decker Mistakes

• Underestimating maintenance costs - Budget 1-2% of home value annually
• Ignoring major systems - Check age and condition of roof, HVAC, plumbing
• Not considering energy costs - Older buildings can be expensive to heat/cool
• Assuming you can DIY everything - Some repairs require professionals

Condo Mistakes

• Not reading HOA documents - Understand restrictions and financial health
• Ignoring HOA fees - Factor these into your monthly budget
• Not checking special assessments - Ask about recent or planned assessments
• Assuming all amenities are included - Some may have additional fees

The Bottom Line

Triple-deckers offer character and space but come with higher maintenance costs and responsibilities. Condos offer convenience and predictability but with less character and higher monthly fees.

Your choice should depend on your lifestyle, budget, and tolerance for maintenance. Use our property analysis tool to factor in all costs - not just the purchase price - when evaluating different property types.

Remember: the best property type is the one that fits your lifestyle and budget. A beautiful triple-decker is useless if you can't afford the maintenance, just as a modern condo won't work if you need space for a home office.