The Benefits of Home Buying During a Pandemic
The ongoing health crisis hit quite suddenly, and all plans that people had were put on hold. Moving house and buying a home could have been one of those plans, and you might have been looking for places to live before quarantine and lockdown happened. COVID-19 really has transformed our lives, and put so many things on hold. However, as things are slowly getting back to normal, it could mean that you could be able to get back onto the property ladder, sooner than you think. Believe it or not, right now could actually turn out to be a pretty good time to buy. With some precautions and guidelines, you could move forward with finding a new home sooner than you think.
One of the first things to do to begin your search for a home is to chat with a mortgage lender (on the phone or online), to see if you can get pre-approved. You should also check for how much for, so you know the kind of budget that you are looking for when it comes to house hunting. Prices may not have dropped too dramatically, although this will vary from area to area. For first-time buyers this could be a really positive thing. For existing homeowners looking to move, it could mean that you get less for your home, but then the ones you are buying are likely to be less too.
You need to be well-prepared when you think about buying your home. If you haven’t made firm decisions on what kind of home you will be looking for, or the non-negotiables that you have, then now is the time. Will you be looking to live on a new home development, or would you prefer to be in an older home? What is the area that you want to live in and what amenities do you want close by? This all needs to be though through, before you can begin your search for the home that you want.
For some obvious reasons, you’re unlikely to be able to visit some homes. You may find it hard to visit some that you see online, especially if they are currently occupied with the current owner. However, many real estate professionals are finding ways around this, and are really getting creative. Many real estate agents are using in-depth video, to allow them to give you a virtual tour. Of course, at some point you will want to see the home in person. A virtual tour will give you an idea of even wanting to see it in person or not. It can help you to narrow down your list quite a bit. So it is something that is definitely worth considering, before a proper visit can happen. Rules are changing all of the time, so you are likely to be able to buy and sell a home sooner than you think.
Are you looking to buy or sell at the moment, amidst the health pandemic? It would be great to hear what you think.