Buying your first home is an exciting and life-changing milestone, but we know it can also feel overwhelming. But, the expert real estate agents at Malfer & Associates can make navigating a dynamic market like Kansas City’s real estate market exciting rather than stressful. At Malfer & Associates, we help you at every step of the home buying journey. Here is everything you need to know to confidently find, tour, and purchase your first home in Kansas City.

Understanding the Kansas City Real Estate Market

Current Market Conditions

Kansas City’s real estate market has been thriving recently, with growing demand and a variety of options for first-time homebuyers that are sure to match your needs. The metro area offers a balance between affordable living and a growing city, making it an ideal market for buyers looking to not only buy a home now, but have it pay off later. However, with a competitive market, this means that working with an expert real estate agent is more important than ever.

Kansas City Neighborhoods for First-Time Buyers

Kansas City has several neighborhoods perfect for first-time homebuyers, including:

• Waldo: This neighborhood prides itself on being located just outside of Downtown KC. And, while it is just outside the big city, it still holds value in being a fun, family town.
• Brookside: (Link to Brookside) From local farmer’s markets, bakeries, cafes, and restaurants, this area creates the perfect KC feel. The homes in this neighborhood are rich in character, the streets are lined with trees, and the people feel just like home.
• Overland Park: (Link to Overland Park) The public schools in Overland Park rank among some of the best in the country. Along with an excellent school system, this community is still growing with many restaurants, outdoor shopping spots, and more.
• Prairie Village: (Link to Prairie Village) From the Shops of Prairie Village to Corinth Square, the dining, entertainment, and shopping are what separates it from neighboring KC communities.

Budgeting for Your First Kansas City Home

Assessing Your Financial Situation

Before you start looking at homes, you will want to sit down and take stock of your finances. You should know your savings, debt, and credit score to determine what kind of house payment you can afford. And don’t forget to include additional costs like property taxes, insurance, and maintenance. These costs are regularly forgotten until later in the buying process, causing a nasty surprise when you are close to the finish line.

Get Pre-Approved with a Lender

Getting pre-approved for a mortgage is a great idea as it gives you a clear idea of your budget and communicates to sellers that you’re a serious buyer. Pre-approvals give you an edge in the competitive market of Kansas City, as sellers are more likely to consider offers from buyers who have secured financing.

The Home Buying Process

Finding a Real Estate Agent in Kansas City

One of the most important steps in your homebuying journey is finding the right real estate agent, and this is even more true for first-time homebuyers. Working with an experienced local agent, like those at Malfer & Associates, ensures you not only have access to the listings and market insights, but also means you have a neighborhood expert that can match your family’s lifestyle to the communities that embody them.

Searching for Your Perfect Home

Your agent helps you narrow down your choices based on your wants and needs. Whether it’s a cozy bungalow in Brookside or a modern family home in Overland Park, your Malfer & Associates agent will ensure that your home matches the lifestyle you desire. Touring homes and attending open houses can help you envision yourself in the space and make the right decision, but your agent will take everything into account to open the door on your first home.

Making an Offer

When you’ve found the perfect home, it’s time to make an offer. Your real estate agent will guide you through crafting a competitive offer that will make you stand out from the rest of the homebuying crowd in Kansas City.

What to Expect After Your Offer Is Accepted

Home Inspections and Appraisals

Home inspections are conducted after your offer is accepted to ensure the property is in good condition. A professional inspector will assess the home for any issues. If any are found this is your chance to negotiate repairs or price adjustments if needed. An appraisal is also done by your lender to confirm the home’s value matches the agreed price.

Closing Costs and Closing Process

Before the sale is finalized, you’ll need to cover closing costs. This dotting of the i’s and crossing of the t’s typically include appraisal fees, loan origination, title insurance, and more. Your real estate agent and lender walk you through these steps of the closing process, ensuring you have a a smooth transition to homeownership.

Settling Into Your Kansas City Home

Setting Up Utilities

After closing, it’s time to move into your new home! Make sure to set up utilities such as electricity, gas, water, and internet before moving day!

Home Maintenance Tips for First-Time Owners

Owning a home comes with new responsibilities. Regular maintenance tasks like changing air filters, inspecting your roof, and cleaning gutters will keep your home in top shape and help prevent costly repairs down the road. Not only this, but it helps to increase the value of your home over time and ensure a greater return on investment.

Now You Are Ready to Buy a Home

Owning a home in Kansas City is an exciting opportunity, offering access to a vibrant city, friendly neighborhoods, and long-term financial growth. Whether you’re drawn to the charm of Waldo or the family-friendly areas of Prairie Village (internal link to listings), the Kansas City area has something for every first-time homebuyer.

Ready to take the next step in your homebuying journey? Contact Malfer & Associates today to get expert advice on homes, neighborhoods, and more as you navigate the homebuying journey for the first time in Kansas City!