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Updated over 1 year ago,

Account Closed
  • Homeowner
  • Kansas City MO
8
Votes |
30
Posts

New construction in Longfellow Kansas City

Account Closed
  • Homeowner
  • Kansas City MO
Posted

Hello - I'm under contract to buy a new construction home in Longfellow Kansas City.  This will be a primary residence, 5 bed, 3100 sqft or so.  I chose this house in this neighborhood because it's close to downtown / Country Club Plaza, comes with a 10yr tax abatement, and with a lot of development going on in downtown KC, the property value will likely appreciate in the future.   But I'm having a second thought.  For the same price, I'm also able to buy a newer (2-3yr old) construction house in the Plaza area and also in Prairie Village but with 2/3 of the space and without tax abatement.  I don't have kids and my workplace is in the Plaza, so I don't have to be in a good school district, but I do want to live in a new/newer construction house and want this house to be a good investment.  This will be better in terms of cashflows (I'd save $10K+ in property taxes, could potentially rent out the 2 bedrooms in the basement) but the location is definitely inferior to Prairie Village/Plaza. I'm going against the 3 rules of real estate - location, location, and location.

Any thought on Longfellow neighborhood, and this particular house as an investment?  I already paid my earnest money and not sure what I can do about that but any thought on the long term return potential on the neighborhood is appreciated.  Thanks. 

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