The difference between buying a condo and a single-family home is night and day,Ã¢â‚¬Â said Dan Farmer, a mortgage banker at Peoples Bank. Ã¢â‚¬Å“I ask Realtors to talk to me first before writing a contract.Ã¢â‚¬Â
Living in a condo Ã¢â‚¬â€ basically an apartment-style residence you own rather than rent Ã¢â‚¬â€ wasnÃ¢â‚¬â„¢t all that popular to begin with in Kansas City compared with more densely developed cities such as Chicago, New York or even Minneapolis. ItÃ¢â‚¬â„¢s so easy to get around here, and traditional homes remain relatively inexpensive.
In the years leading up to the Great Recession in 2008, a small condo boom did hit Kansas City, particularly around the Country Club Plaza and downtown. Then the bottom fell out, to a lesser degree here but big time in overbuilt places such as Miami, Phoenix and Los Angeles.
Wish the condos were as affordable on the west coast!
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