How much is land worth on a condo?

[Chris Mukhar]

I have a contract on what was advertised as a townhouse, but once we got it under contract we found out it was a condo. I've always thought about the land as what would appreciate. This is a 2x2.5 and I am a first time home buyer who would live in one room and rent out the other. This is a good deal, but I'm wondering if I should negotiate on the price during the option period as this is a condo and I will not be getting the land underneath the home as I would on a townhouse. Any advice/thoughts would be appreciated. Thanks from a longtime lurker from Houston, tx!