In 2014, the median asking price for a condo in Raleigh was $247,900, roughly $30,000 less than the national average at the time. But North Carolina's reasonable price tag for a condo comes with some considerable weather-related obstacles. The Tar Heel State actually experiences an annual average of 31 tornadoes, which can lead to costly property damage.
But part of the beauty of owning a condo rather than a house is that it's your HOA's responsibility to maintain the building, while you're just responsible for your unit's interior and any belongings inside. So say a tornado rips some shingles from the roof of your building — it's your HOA who pays. But if a tree limb comes through your living room window, your condo policy typically helps cover the cost of those repairs.