The widespread untoward effects of the pandemic have made 2020 a year of uncertainty. With the economy in the doldrums, the real estate sales have, too, witnessed an abrupt change. Things have become confusing for buyers and the general folk who are stumped over the one question that has intrigued them for long: Is now a good time to buy a house? If you are actively looking to purchase a home during the pandemic, read on to discover better answers.
SHOULD I BUY A HOUSE DURING THE CORONAVIRUS?
One word answer, “Yes.” Go for it. The real estate processes have continued through the pandemic, and this is undoubtedly a good time to buy a house or make a real estate transaction. Efficient real estate agents like Eddie could work their way through and serve potential customers in the right direction when the sheltering at home order was in place across the US. The states are slowly reopening now, although the real estate was always considered as an essential business. With things getting back on track, this could encourage buyers to explore the market prospects once more.
I WISH TO VIEW A PROPERTY ON SALE, BUT HOW?
The social distancing norms are still very much in place, and being at home is the safest way to avoid COVID-19 exposure. While you may be required to wear gloves, boots, and use sanitizers while exploring a property on sale, as part of the safety protocol, there are better and safer options available as well. Your real estate agent can help arrange a virtual video tour of the property while you stay safe indoors. You can even ask questions and clear your doubts regarding the purchase. Go ahead, make time, and be ready to purchase your dream property. This is now a good time to buy a house.
HAS CORONAVIRUS IMPACTED HOME PRICES?
Keep one thing in mind. If you have been furloughed in the recent past or may not sustain a stable financial condition, it would be a good idea to delay the plans for some time. In case you did manage to save a good chunk over the years, you could go ahead with a purchase. Interest rates have remained historically low during this time, and competition is way too small. This can be a great time to invest. It is safe to buy a house now, especially when you have experienced and qualified real estate agents like Eddie.
Both buyers and sellers have become hesitant about making real estate deals during the pandemic, which has made them pull down the listings. It is best to speak to your real estate agent before deciding on a deal.
ARE CLOSING TIMES ALTERED TOO?
Things have certainly slowed down, meaning deals could take a bit longer than usual. While companies, lenders, and parts of the real estate sector continue to function, the progress could be slower. But, experienced real estate agents like Eddie can help make things a lot easier for you. Be patients, the situation is improving, and things would go your way very soon. Stay tuned.