How much can I afford? What types of financing are available? How do I ensure I’m paying a fair price? These are just some of the important questions potential home buyers should ask, whether you’re a first-time or a seasoned buyer. Our agents are experts in Kansas City area real estate and have the experience and tools to help you navigate today’s market.
Our step-by-step guide can help prepare you for a process that can be complicated; our tips provide the inside scoop that can help you keep your head!
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Learn valuable information on the home buying process, current market conditions, home mortgage options and how you can realize your dreams of home ownership.
Not long ago, consumers had very little access to information about recent home sales prices, market trends, homes on the market, neighborhood statistics and the home-buying process. Today, all this information and more is available online. Go surfing. Get educated. Become empowered.
Determine Your Budget
It’s important to know what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.
Make a Home Wish List
Prioritize the features on your list. If you’re not sure what part of town you want to live in, search our community profiles to find helpful information on schools, recreation and more.
Do you (and your spouse, if you’re married) really know what you need and want in your home? You’ll save yourself many hours of shopping (and potentially arguing) if you make a list ahead of time. Zero in on the features you must have, would like to have, definitely don’t want and would prefer not to have. Your goal is to find the right home for your family without falling in love with one that doesn’t suit your needs. Tip: Start compiling your wish list by thinking about what you like and dislike about your current home.
You’ve probably heard the old real estate joke about “location, location, location,” but the point still bears repeating. Location is crucial. How far are you really willing to commute to your place of employment? How good are the local schools, shopping centers, public transportation, seniors services and other public amenities? Will your new home be next to a vacant lot or a commercial property? Even a picture-perfect dream home can be a mistake if it’s in an undesirable location, and a poor-location home can be a particularly bad choice if you anticipate reselling the home within a few years.
Become a Priority Buyer
Pre-approval is essential before beginning a formal search in today’s market. Visit our HomeServices Lending to get started, or talk with your agent.
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Your top-dollar home price is a function of your household income, your credit worthiness, interest rates, the type of loan you select and how much ready cash you have for the down payment and closing costs, among other factors. Rather than guessing or estimating how much you can afford to spend, ask a lender or mortgage broker to give you a full assessment and a letter stating how much you’re qualified to borrow. The true amount may be much more or much less than you think.
Apply for Mortgage Pre-Approval
Start Your Search
Use our Virtual Map, Advanced or Open House search to find properties that match your wish list - OR download the ReeceNichols mobile app to see houses for sale in real-time, projected on your device’s screen! Any way you search, you can save your favorites to your Home Match account. Your ReeceNichols agent can set up showings and tours.
Learn about Home Match
Start Your Home Search Now
Touring multiple homes is a confusing experience for most people. Rather than relying on memory, make notes about the homes you visit. Turn your priorities into a personalized home-shopping checklist and use it track the features of each home.
House-hunting can be tiring, especially if you’re relocating to a distant community and want to see a dozen homes in one day. There’s no sense in torturing your feet unnecessarily: wear comfortable clothing and sturdy shoes!
Granted, buying a home is a major life-altering event. But it’s not worth making yourself insanely crazy or super stressed. Save time at the end of your house-hunting expedition to unwind, calm your thoughts and emotions and keep the whole experience in perspective.
Make an Offer
You’ve found the home you love, now it’s time to make an offer. Your ReeceNichols agent can negotiate on your behalf and help you write a successful contract.
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House-hunting can also be especially frustrating if you know in your heart you’re not really ready emotionally or financially to buy a home. If you’re not ready, don’t put yourself through the exercise. If you are ready, go through a blank purchase contract ahead of time so you’ll know what decisions you’ll face when you make an offer.
A professional inspection will let you know if there are any issues with the property.
Complete Your Mortgage Loan
Work with your mortgage consultant to complete the formal loan paperwork. The loan will be processed and a date set for closing.
Close on Your New Home
Closing day includes signing final loan documents and transfer of title. And, you get the keys! Congratulations, you are now a home owner!
Be sure to set up utilities at your new home and change your mailing address. Then pack and move!