Things to Know About Buying Your First Home in Missouri

For whichever event has brought you to Missouri, you have plenty to celebrate. Moving to a new place and starting a new phase in your life is a major accomplishment 一 one that requires great research, attention to detail, and not to mention money. If you’re planning a big move to Missouri, think about some of these factors before putting in any offers on a house and packing up your rental truck for a cross-country trip.

Learn about Missouri

Did you know that Missouri and popular cities within it have landed some pretty impressive rankings? Here are some examples that might influence one’s decision to buy a home here:

  • Missouri ranks #8 on the list of most affordable states to live in.
  • US News ranked Missouri #4 in its “Opportunity” category based on its affordability, equality, and economic opportunity.
  • The best cities to live in in Missouri are Columbia, Kansas City, St. Louis, and Springfield, respectively.

Find a home in Missouri

With interest rates at record lows, lots of buyers are looking for houses for sale. However, homes are getting scooped up rapidly, inventory is lacking, and home prices are increasing. That said, do your due diligence before starting your home search; research local Missouri neighborhoods and prices of houses for sale in the area to understand the neighborhoods that fit your budget and lifestyle. Once you’ve chosen the appropriate location, dive into the initial steps of the mortgage process so that you can make timely offers in a competitive market.

Research Missouri’s cost of living

As a part of the top ten most affordable states in the US, places like Kansas City, St. Louis, and Springfield are practical, cost-effective communities in which to plant roots. If you’re moving from one state to another, it’s important to factor in cost of living and compare it to your net income. This will help you comprehend the amount of money you’ll be putting toward typical living expenses and ultimately the amount of money you’ll bring home at the end of the day. World Population Review labeled Missouri’s cost of living index the 4th best in the country, with its housing index the second lowest of all 50 states.

Get preapproved

A mortgage preapproval will indicate the amount of money you’re qualified to borrow if you’re planning to take out a loan for your home. After weighing your credit history and your financial wellbeing, a lender will preapprove you for a certain amount, which will guide your home search. This amount will determine the neighborhoods you can explore in Missouri, and the size and type of your future home.

Hire a professional mover in Missouri

The moving process calls for accountability before, during, and after your move. Great Day Moving is a trusted, professional service to lean on when it comes to your Missouri move-in day. Before you make any long-distance treks or make any offers, contact us with any questions regarding your move to get an estimate for your upcoming move to or in Missouri.

Things to Know About Buying Your First Home in Missouri