What to Consider Before Making an Offer on a Loft for Sale in Kansas City

There’s more to finding your perfect loft than the loft itself.

Sprawling between the Crossroads Arts District and the Garment District, lofts for sale in Kansas City aren’t merely real estate. You’re making an investment in Kansas City’s architectural history. You are going to be living in a building rich in features turned amenities that have endured since the late 1890s or early 1900s in many cases.

Believe us… we know how easy it is to fall in love with the view, the details of exposed brick, high ceilings, floor-to-floor windows, original, restored wood plank flooring to name a few. Be still your heart long enough to dig deeper into the other aspects of buying a loft in Kansas City, which will help you make the right decision for your preferences and lifestyle because there is more to buying your perfect loft than the loft itself.

Browse lofts for sale in Kansas City. Consider the Parking Situation at Your Potential Kansas City Loft

There are two types of people in this world. Those who fret over parking and those who don’t. Which one are you? Does the idea of parking your “baby” out in the elements make you shiver at the idea of scraping ice? Or have you ditched your car in favor of ride sharing or public transportation like the Streetcar? Be sure you understand the parking situation for the specific lofts for sale in Kansas City.

• Is it covered? Surface? Street? • Is parking exclusively for owners? • How many spaces are you allotted? • Are they included in the sale price, purchased separately or leased?

Covered, secure and gated parking is a wise investment for loft buyers in terms of your convenience now, as well as top dollar resale value when the time comes.

Decide Which Amenities Matter to You Because You’ll Be Paying for Them

Kansas City lofts come with homeowners association (HOA) fees, usually paid monthly. The fee matters because it pays for the amenities you’ll enjoy (or not) as a loft owner, and it affects your budget.

HOA fees can cover insurance, trash, maintenance (landscaping, snow removal, etc.) and occasionally some utilities. They also pay for lifestyle amenities. KCLoftCentral’s historic properties feature amenities, like covered and gated parking, fitness studios, social lounges, patios, theatres, hot tubs, spas, an indoor pool and much more. The more luxurious the amenities (think 24 hour concierge, dry cleaning, personal training, etc.), the higher the fee.

Ask yourself what amenities are valuable to you and choose your Kansas City loft accordingly. If you’ll be taking advantage of the amenities offered, it can be a good value to pay for them through your HOA fees. However, if not, realize you’ll be paying your share for other loft owners to enjoy them.

Do Due Diligence When Reviewing the Homeowners Association’s Financial Health

Of course, HOA fees eventually increase to keep up with the hard costs of insurance, maintenance and upkeep of the amenities. If the association doesn’t properly manage its finances, the shortfall will fall on loft owners to make up, raising your fees.

A well-run HOA will be transparent with its financial reports and offer them for your review. Take a close look at the numbers and the reserve amount because they can affect your fees, your property value and even your satisfaction with the community. For example, if a fitness room amenity is a high priority to you, a well-managed HOA helps ensure your continued enjoyment of it. On the flip side, a mismanaged HOA will struggle to find budget to fund these amenities and cuts will need to be made.

There are more serious consequences to how the HOA budget is handled. Your fees also go to pay for capital improvements like repairing exterior masonry walls, roofs, replacing common area HVAC, and more. Without adequate funds to keep the building in excellent shape, items like this can go by the wayside, which impacts the entire building’s value, including your loft.

You’ll want to carefully read through the HOA’s Covenants, Conditions and Restrictions. Ask questions about the loft’s home owners association, what its rules and regulations are and any other conditions surrounding the property.

Our experienced development and management team has been at the forefront of Kansas City’s Downtown renaissance for more than 30 years. We’re here to answer your questions and help guide you to the loft in Kansas City that is perfect for you—in every way.

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