Planning For Your Real Estate Future During COVID-19
Let’s face it: with the current state of affairs, it’s going to be pretty odd to buy or sell a house. You can’t go to open houses, you can’t schedule one-on-one appointments with a realtor, a mortgage broker, or a home inspector – it could feel very isolating and like you’re alone in your real estate planning.
While we’re all stuck at home and feeling impending doom, does it mean that the world has to stop? Are all options lost currently in the housing market?
If you take a look online, there are multiple resources that we could take advantage of that don’t have to hold us back. If you’re feeling inspired by being inside and want to still plan for the future, there are definitely tools, resources, and people that would love to help you.
Are Real Estate Agents Not Working During COVID-19?
Believe it or not, they are. The housing market, according to some real estate agents is still moving at a steady rate of supply and demand and the value of homes are staying the same, unlike how the economy is rapidly changing on a daily basis.
So, if the housing market is still staying the same, how do potential buyers continue to remain in the loop?
Part of it is finding a seller that will be a helpful resource to you, while also being aware of their own safety. The right real estate expert will have everything available for you to look at from pictures to dimensions of the potential space.
If they have services like a local home or condominium search tool, then take advantage of it. Not only will it show you what’s currently out there, but also save you and the realtor time visiting the potential space. The reason to look more local than anything right now is because their attention to detail will be a bit more aligned with your own. They can give you the attention that you desire while making it easier since they will have a more solid relationship to the home builders.
If you have the privilege of having a local asset like this, it can be easier on you as you continue to do your housing search while quarantined. A local real estate leader can help calm your fears about the local housing market and help you find the best fit.
Can I look at Any Houses While Quarantined?
There’s definitely a potential to continue looking at places as you’re stuck in quarantine. When you have a real estate agent and as you pick places you’d like to visit, ask your real estate agent to practice safety measures when visiting these places. Ask them to FaceTime you as they look at vacant homes to practice safe social distancing. Ask them to take measurements, look at the water pressure, tell you about the neighborhood, and all those other facets of a new home that mean the most to you.
Also, do some of your own research that you were already going to do while searching for a home. Find out more about the local businesses, the crime rate, etc. While you can’t go visit a potential neighbor to ask more, you can search Facebook groups that cater to this need to connect with and get an idea of the type of neighborhood you’re looking to move into.
While you can’t physically be present, there are other ways to do more research into the homes your realtor helps you find. There’s the potential to be a part of the process even at a distance.
Are Home Inspections Still Happening? What About Final Walk-Throughs?
With the majority of businesses closing and everything seemingly very different in all markets, the typical home buying and selling process is still pretty much the same, including home inspections.
Home inspections are now going virtual. Home inspectors across the United States are using live platforms like FaceTime and Zoom as they inspect a home to let home buyers tag along their process.
As for final walk-throughs, they are also still happening for homebuyers to make sure the home is in good condition. Most home buyers and sellers are taking a lot of precautions as they attempt final walk-throughs. Some buyers are asking sellers to leave all doors open to the space so they can do the final walk-through without touching anything. Some sellers are doing virtual video calls to make everything easier for the buyer and for their own protection.
Wherever you may be in this process, just remember that you aren’t alone. There are resources out there that have your safety and a realtor’s safety in mind. As you continue to meet with realtors and find the one you trust, ask them questions about how they’ve been working with their current clients on the home buying process. Emphasize any concerns you have upfront to ensure that you’re on the same page.
There are ways that you can still find the home of your dreams while protecting your safety and other’s safety. The main takeaway is that with the rise of virtual resources, you have the power to still live out your home buying goals.