Tips and reminders when buying a house during the pandemic

Security, control, belonging, identity, and privacy – these are only a few of the things that a home provides for you and for your family. It's a place that provides us with a centering—a place from which we leave when the sun goes up and to which we go back to rest and feel serenity when the sun goes down.

The home is also the most important place where the most important values in life are taught to every child. Knowing the values that a family cherishes helps increase harmony and peace among all family members. 

This is how important a house or a home is for a person or a family, which is why we would always want to have our own. But when an unexpected natural disaster such as this pandemic hits us, it also interrupts our plans to start house hunting and we might question our timing for buying a house of our own. 

However, there are still ways you can work toward buying your dream home. All is not lost during this outbreak as you can still achieve your goal by taking a look at the benefits and advantages of buying a new house amidst uncertainty that will help you make informed financial decisions.

Time to Research the Market

While you are spending more time inside the house and you are just starting to look for a house to buy, do a research of the areas where you want to move, including the area’s home values and the average selling prices. You may also want to familiarize yourself with real estate terms and listing abbreviations so you can easily browse listings. You may also ask friends and family for realtor recommendations and check out online reviews so it would be easy for you to make a short list of real estate agent candidates to interview.

Take Advantage of Less Competition and more Flexible Price

When an area or region is shut down, competition for the houses in that area is more likely to be less and there’s a huge possibility that sellers will be more flexible on price.

Start hunting virtually or shop online more thoroughly. It will give you an advantage in finding a home you love within your price range. Once the crisis passes, prices may escalate due to a more competitive market that benefits sellers rather than buyers. Get ahead and take the advantages of this pandemic when it comes to buying a house.

Consider Preapproved Mortgage

If you want the seller to see you as a serious buyer, get a mortgage preapproval before you begin house hunting. Amidst this pandemic when people are told to work from home, it may be possible to get preapproved online, so consider looking into that option. 

Get your information organized so that your lender can prepare for your mortgage preapproval easily. A good credit rating, will also qualify you for a conventional mortgage and lower interest rate. 

Virtual Home Viewing

A lot, if not all businesses are going online or virtual for you to feel or experience their products or services. Many real estate businesses post virtual tours of properties for sale on their websites and on social media, where you can take a virtual tour or attend a virtual open house to get a realistic view of the property.

This way, you can still view houses on the market right from your own home, whenever it is convenient for you. In addition, by touring homes virtually, you can see many more than would be possible in a single day with your real estate agent.