Spring and Summer are historically the best time of the year to purchase a new home. Homebuyers allocate time and resources throughout the year to take advantage of the real estate opportunities that become available during these months.
That said, buying a new home this year will look a little different. The coronavirus outbreak has upended the standard practice of searching for and buying a new home. But, that shouldn’t deter buyers.
There are still incredible opportunities to be held, as the market continues to heat up. While the process may seem different, there are still effective ways buyers can evaluate and purchase homes.
With open houses on hiatus for the time being and restrictions on the number of people allowed at a showing, virtual tours are replacing the in-person showing.
A recording or streamed virtual tours can be a great way to get an in-depth view of the house. The same can be said for 3D virtual tours. While this can never replace the full experience of walking through a home, it can help buyers more effectively vet the homes they do want to visit.
Technology is also being used in home inspections or appraisals to being a comfort to home buyers. Since these inspections are being performed without the buyers, many are using video and other apps to enable buyers to join them for a remote inspection in real-time.
Begin Your Financing Process at Home
Buying a home can be paperwork intensive, and some of the important items can be done while you are social distancing at home.
For example, getting pre-approved for a loan from home will make the search process more efficient. An application can be submitted online or over the phone, and you could receive an approval within an hour.
Also, mortgage rates are at historic levels, so if approved, now is a great time to take advantage of low rates.
Safety is King
As precautions ease and our state begins to open up slowly, the rules and regulations around real estate will undoubtedly change. It’s important to keep yourself informed and practice social distancing at any point in the home buying process. So when you tour a house in-person, make sure to keep a safe distance- at least six feet – and to wear protective gear.