Buying your first home is a big step. Some amazing properties are available in the larger Kansas City area, from Overland Park to Morningside. Here’s how to make sure you find the one for you.
Remember that you’re signing contracts
When you buy a home, you’re entering into binding contracts. You’ll be signing a lot of papers, and each one will affect your life for years to come. Serious? Yes. Scary? It doesn’t have to be.
Contracts are always negotiable, but the key is negotiating before you sign. Don’t sign anything until you’ve done your due diligence, talked it over with good real estate agents, and taken a night (or three) to sleep on it.
Find that good real estate agent
You have to pay your real estate agent, so to save costs, some people try to go it alone. But if you can’t afford to hire a good real estate agent, you really can’t afford to buy a house. It would be smarter to wait until you have the funds to hire the help you need than make a poor decision because you didn’t have the right advice.
Make sure your real estate agent is working for you and not the seller, and then trust them. If you’ve chosen someone based on their good reputation and solid background, they will be there to protect your interests and help you successfully navigate the complicated buying process.
Find the right mortgage lender
Your choice of mortgage lender can easily make the difference between finding a great home you can afford and being stuck with enormous payments you come to resent in years to come.
Look for mortgage companies in overland park KS that can offer you different types of loans and are willing to walk you through the details until you find the right loan for your needs. When you work with local lenders, you can also rest assured that you’re working with people who know the area and what local property is worth.
Be careful of fixer-uppers
If a house is in poor shape, you may be able to get an amazing deal on good property in a desirable area. It’s only a good deal, however, if you can afford to make the fixes. Putting on a coat of paint is one thing; redoing all the wiring is quite another.
Make sure you calculate the cost of fixing the place, and don’t forget to factor in labor. Buying new cabinets or a new floor can look very affordable when you consider only the cost of materials, but once you factor in labor, the costs go up quickly.
Don’t forget the little things
As you’re deciding what you can afford, remember the incidental expenses. As you make your plans, don’t neglect the small steps. If you’ve considered all these “little things,” the final process of buying and moving into your new home will go much more smoothly.
Line up a storage unit through Self Storage Finders so you have a place to put everything as you make the transition into your new home. Think about the day of the move and how you’ll work out the logistics of feeding everyone and getting everything done. As you calculate costs, don’t forget about things such as lawyers’ fees for document prep and closing costs.
You don’t have to buy right now
The last thing to know about buying a home is to remember that you don’t have to buy if you’re not ready. It’s a huge decision to purchase real estate, and we live in a much different world than the one our grandparents and great-grandparents occupied.
There are great reasons to own your own home, but there are also good reasons to wait. Don’t feel pressured into making a decision if you aren’t ready, and be sure to leave yourself room to be flexible about your future.
