Whether you’re selling a property, looking for a temporary rental, or searching to purchase the next place to call home, the dedication and commitment to the real estate process may be a struggle. You’ve put plenty of thought and effort into this life decision only to be halted by an unforeseen circumstance, like the current social and financial climate that our society is facing today. What can be done during these times of uncertainty? How can you continue your plan of buying a new home right now? Real estate plans may seem to be put to a halt while you focus on adapting to working from home, transitioning to remote education options, finding activities for your family, and planning out daily meals, chores, and errands - but that does not have to be the case.
- Start by doing a little extra research. What does your desired neighborhood look like? Dive deeper into examining school districts, crime statistics, and local amenities like nearby parks, shops, restaurants, farmer’s markets, and events. Figuring out what you want and need nearby can help you find the perfect location and the perfect home.
- Buying a home is a huge financial investment - don’t forget to check property value trends over the years in the neighborhood you’re researching. Ensuring that your next home has growth potential will set future you up for financial success and turn your investment into an even better opportunity.
- Consider looking into some less studied local statistics like street parking regulations, trash pickup days, or typical monthly utility costs - things you wouldn’t usually think about until after moving in. Having a good idea about an area’s directives can save you a potential headache in the future.
- Technology is ever-evolving - and luckily, you don’t have to visit a home in person for the open house experience! Virtual open houses and video home tours are a great way to shop around online without spending time driving around. Plus, keeping bookmarks and notes about virtual home tours will help you remember exactly what you liked or disliked about certain properties.
- Luckily, technology is good for more than just the first step in finding a house during the home buying experience! You can gauge a home’s affordability almost instantly by using one of the many real estate apps available, like Zillow, Realtor.com, Trulia or check out an online mortgage calculator to accurately estimate what you can afford. While avoiding face-to-face interactions in order to social distance, many banks also offer pre-approval options when applying for a loan online or using mobile banking apps. Check out your bank today to save yourself time while also staying safe at home.
- On the topic of finances - mortgage rates are historically low right now due to the social and financial climate our society is facing due to the COVID-19 pandemic. If you have job security and the confidence that your industry won’t be negatively affected over the next few months, now is the time to buy. However, it’s important to still err on the side of caution when making such a big decision. While your home buying process should not come to a halt, be sure to weigh all of your options, do your research, and have all your priorities in order.
Think of this temporary delay to move forward with your real estate plans as an opportunity to take advantage of doing extra research, thorough online shopping, and focusing on your budget to avoid the stressors that may usually come with this process. Putting in the extra effort to hone in on your wants, needs, and goals for buying your next home will help you save time, money, and unneeded stress in the long run!
