The answers you've already gotten are really great and I'd like to add one more thing. Personally I've lived both in a condo and single family home, loved both and they each fit for my life at that time (single, versus married with kids). You question was about RESALE value and for your part of the country it generally is always better for a single family home. In resort areas it's a different situation (like Aspen for skiing where you can rent your condo and it's a second home situation). The lifestyle question and answer are critical for enjoyment today and even for rental, you'll probably have better luck renting with a single family home rather than a condo if you can't sell. Sit down with an agent that's been in the business for awhile and ask for a consultation on your options. they ought to be able to pull some hard numbers for you out of your local MLS to really give you a clear picture of your particular market. Good luck.
Trisha Lee REMAX Boone Realty, Columbia, MO
Prudential Kansas City Realty
816 510 1262
If the condo association has been good at collecting dues and not too many condos are rented, a 20% down payment is typical and again generally if the balance to finance is less than 50,000 you cant get financing. So you would need to pay all cash for the property. Single family homes only require 3.5% down payment. That allows many more buyers to be able to purchase.
Tiffany Saunders-Licensed in KS & MO
Re/Max Results- Foreclosure, Short Sale, REO, Residential, Luxury, Condominium & Land Specialist
(816) 728-0724 cell
(816) 285-2352 fax