Tips for Buying and Selling A Home During Covid-19

The COVID-19 pandemic has upset buying and selling activities in the property market. Albeit a smaller number of homes have been listed for sale, the industry is slowly but surely recovering. Soon-to-be buyers can make purchases and sellers can list their properties for sale while observing prevention measures for safe dealings.

The real estate market was showing projections of steady growth until the pandemic took charge of the industry in March. With restrictions in place to limit the spread of COVID-19, households took to a cautious approach trying not to make purchases or listing their properties for sale. There have been reports showing the volume of mortgage applications dropping between 20-30% despite rates being at an all time low.  

However, that is not to say that all hopes of buying and selling your home are entirely closed. Those who were on the verge of closing home deals or want to purchase properties can still do so.

Do your research:

Despite the drop in the number of newly listed homes, there are still excellent options in property listings. This is a time to research the market and find your preferred property in a community you like. Don't limit yourself to a few selected areas. Extend your search to other surrounding regions that might have homes with excellent value for money, amenities, and facilities.

Speak to a Real Estate Professional:

Most real estate agents have communication practices during the coronavirus crisis. They currently pull high-tech tools to communicate with property buyers, offer virtual tours; negotiate and even finalize deals without having to meet them in person.

If you've inspected a listed property and are willing to close the deal, make a call to your agent for assistance on how to proceed. Agents can organize for an interactive virtual tour where you can ask questions regarding the design, condition of the property, and chattels, etc.

If selling a home is your decision, you can resort to online appraisals. Housing agents understand the market well and will be glad to offer estimates of the property's value and how it may fair in the property market.

Getting the home ready:

During this time when entertainment, sports, and other social areas are closed, take advantage of this while to prep your home for the market. Preparation may entail anything from mowing the lawn, exterior repairs, tidying the gutters, and decluttering the interior.

Start with a DIY approach to reduce the workload before calling the professionals for help. Do an online home improvement search to note the additional décor that can enhance the visual appeal of the home. Once the restriction measures are eased, you can embark on implementing the changes.