If you’re a first-time home buyer, it’s okay to feel a little overwhelmed! Purchasing a home is exciting, but it’s also a big decision. That being said, working with a reliable real estate agent is important to ensure you end up with a home that fits your needs and budget. Hiring the wrong real estate professional can result in an unpleasant purchasing experience and can even lead to buyer’s remorse. In this blog post, we’ll be sharing first-time Kansas City home buyer tips to help guide you through the home buying process!
New to our blog? Welcome to the Small Real Estate Team! Our small, yet mighty, team of four has over 50 years of collective experience. Affiliated with Reece Nichols in Liberty, Missouri, it is our privilege to help our community with all of their real estate needs. If you would like to check out our current listings, click here. For more information about working with us, fill out this form on our website or give us a call at (816) 407-5224. Don’t forget to ask these questions before hiring a realtor! We hope you enjoy this helpful information for first-time Kansas City home buyers.
Establish Your Price Range
It can be tempting to scroll through Zillow and dream of your ideal home. When doing so, you’ll likely see an estimated monthly payment assigned to each property. Keep in mind, your monthly homeownership expenses are likely far greater than this figure! Just because the monthly payment looks doable doesn’t mean you should max out your budget. Yet again, another reason why working with a trustworthy real estate agent is key!
Before you start looking at homes, you’ll need to decide what you can comfortably afford. This budget will determine how much you will need to save as a down payment and the size of the loan you can borrow. Sure, there are several online mortgage calculators that can give you a ballpark range but getting formally pre-approved by a loan officer will give you a much more accurate shopping window.
Aside from the purchase price of the home, don’t forget about closing costs, moving expenses, insurance, HOA dues, furniture, utilities, and more. As a first-time Kansas City home buyer, it’s wise to be conservative when it comes to purchasing a home. So, before you break your heart, get pre-approved prior to looking at properties!
What’s Your Ideal Property?
Of course, you likely have dreamed of your home for a while! It’s a good idea to list out all the features of your ideal property. What are your must-haves and what’s on your want list? This information will help your agent narrow down options.
- How many bedrooms & bathrooms?
- Where do you want to live?
- Do you need an office?
- How many garage spaces?
Keep in mind, your ideal property might look a little different than you initially envisioned! For example, you might be able to get the amenities you’re looking for in a townhouse rather than a single-family home. It’s a good idea to be open-minded and let your real estate agent show you the possibilities! You never know until you take a look!
What Are Your Deal Breakers?
Compiling a list of all your desires for your new home sounds like a lot of fun, right? Likewise, you’re going to want to establish your deal-breakers. For example, if you absolutely require a 3-car garage – make your needs heard! Being upfront and transparent with your real estate agent will make the house-hunting process more efficient for everyone.
How Much Work Are You Willing To Do?
Are you considering new construction only, or are you willing to put in a little sweat equity? Be honest with yourself! Home repairs and renovations are not as easy as they seem on HGTV. If you don’t want to be spending your weekends on house projects, a fixer-upper probably isn’t for you! Check out this blog post to determine if a new construction or resale property is right for you.
Come Prepared To View Properties
Now, the fun part begins! Your agent will set up times for you to view properties that fit your needs and budget. These meetings can often go by quickly, so don’t hesitate to take photos and videos for you to reference later. In addition to bringing a phone or camera, consider bringing a measuring tape. A measuring tape is especially useful for folks with large furniture, such as sectionals or pianos. A notebook and pen might also be helpful!
Make An Offer
At last, you’ve found the one! Making an offer is relatively simple if you’re working with a reputable real estate agent. If the seller accepts, you’ll schedule a home inspection and an appraisal. Don’t forget, you can negotiate with the seller on things like closing costs and appliances!
Home Inspection & Appraisal
Congratulations! Your offer has been accepted. Now it’s time to get your home inspected and appraised. An inspection will disclose any property damage. This will also give you a realistic timeline to expect repairs and replacements. After all, it’s best to be in the know than be unpleasantly surprised after you move in! An appraisal will confirm how much the home is worth, verifying your loan.
And, just like that, closing day is here! After signing some paperwork, and paying your deposit and closing costs, you’ll be handed the keys to your new home! You’ll agree to the final loan terms, such as the interest rate, and sign documents with your real estate agent. Finally, you’re ready to unload the moving truck!
Hire A Trustworthy Real Estate Agent!
Like most industries, no two real estate professionals are the same. Some agents will rush a buyer to make a quick purchasing decision so they can collect their commission. At The Small Team, our business model was created on building trust! We want you to be a client for life, which is why we do our best to advocate for each and every one of our clients. When you work with our team, you’ll never be pressured to buy a home you don’t want.
Hear From This First-Time Kansas City Home Buyer
If you’re a first-time Kansas City home buyer, you might be overwhelmed when it comes time to choose a reliable real estate professional. Working with a buddy who just got their license might not leave you feeling overly confident. After all, the purchase of your home will likely be your largest investment! Our clients Ryan & Emily had a great experience working with The Small Real Estate Team. We were happy to walk them through every step of the process during their home buying journey. Here’s what the couple had to say!
“This was our first-time buying and selling and The Small Real Estate Team exceeded our expectations every step of the way. They skillfully guided us through the process, helped get us into a home that better suited our family, and went above and beyond to ensure our needs were met. The Small Real Estate Team deeply earned our trust.”
Get The Expert Guidance You Need
Ready to get serious about your home buying journey? The Small Real Estate Team would love to help! From selling your existing property to finding your home sweet home, we’re here to guide you through it all. We aren’t just in it for another sale. Our team genuinely cares about the well-being of each of our clients. In fact, we treat every transaction as if it were our own personal purchase. We believe in honesty. We believe in dependability. We believe in loyalty. We believe that our dedication to the SMALL things will make you a client for life. Click here to learn more about our awesome team.
Don’t Miss This Testimonial!
Check out the video below to watch a testimonial from one of our THREE-time clients! Throughout your life, your residential needs will inevitably change. From purchasing a large home as your family grows to downsizing in your retirement years, you can count on The Small Team to assist you through it all!
Jeff Says: “What was important to us when picking a real estate agent was choosing someone who had our best interest in mind, and weren’t looking to push a deal at any cost, but someone who was truly looking out for our needs and what would be in the best interest for our situation.”
Racheal Says: “Overall, we just loved working with The Small Team and if you’re looking for a real estate agent, we definitely recommend working with them”.