Just because we are experiencing a change in daily activities due to the Coronavirus, it doesn’t mean that you can’t explore your options for buying a home. How should you proceed if you are looking for a home? Rest assured to know that people are still buying and selling homes, but a few adjustments might need to happen in this process.
Tips for Buying a Home During Coronavirus
The global pandemic has many people thinking that they need to wait before buying a home. But the truth is that there are many safe house-hunting options, especially if you are working with a trusted real estate team.
Here are a few tips to help if you are ready to start looking for a home:
- Start Immediately: Because of the circumstances, certain aspects of the home buying process could be delayed. If you have a specific timeline for your move, then it’s best to talk to a real estate agent right away. Building in the extra time can help you work through potential delays with lending, appraisals, and more.
- Virtual Tours: Whenever possible, look for options to utilize virtual and video tours. Open houses have been canceled, but you can still see the properties using digital features. Some of the home listings include video tours that can be viewed at your convenience. Or, you might be able to use Facetime with your real estate agent to see a listing.
- Find the Right Real Estate Agent: Not only will your real estate agent assist in navigating the current situation, but your agent can connect you with mortgage brokers and other industry experts who can help. The goal is to complete as much as possible through digital channels, which is why it is more important than ever to have an agent help when you are buying a home.
Looking for a Home? How the Real Estate Industry Will Change
In addition to the current adjustments that need to be made in the real estate industry, it’s no surprise that Coronavirus could have longer-lasting effects in real estate. Common predictions include:
- Technology: Going forward, it is likely that technology will be used more and more in the home buying process. For example, electronic signatures will likely be used instead of in-person meetings.
- Interest Rates: Mortgage interest rates have been on a rollercoaster in recent weeks. We can expect that the rates can continue to change from one day to the next, which is why it is essential to work with a trusted mortgage broker.
- Pricing: It is possible that demand will change, which could impact home values. No one can predict how real estate value will shift – only time will tell how these changes will play out.
At DUFFY Realty, we are actively working to monitor the situation and stay current in these unprecedented circumstances. Our agents are here to assist with all of your Atlanta real estate needs. Call us if you are looking for a home or it is time to sell: (678) 318-1700.