What are your priorities, both long- and short-term?
Chances are that your lifestyle changed in 2020, spending more time at home, working from home, cooking at home, going for more walks around the neighborhood. Even if your day-to-day is back to normal, you might have discovered new hobbies or better ways of doing things. Consider your new priorities when choosing your next home. Here are some of the most common home features people added to their wish lists in 2020:
What does “location, location, location” mean now?
Whereas commute time was a major consideration when looking at houses prior to the pandemic, location has a different significance if you’re now working from home. If you aren’t worried about drive time to the office, you can now give higher priority to the neighborhood or schools you want for your kids, the climate you’ve always dreamed of or the proximity to your favorite restaurants. Some homebuyers have shifted their attention to the suburbs, where population density is lower and cost of living is more affordable.
How will COVID-19 affect the financials of buying a house?
Many people are anxious about what kind of down payment they should make, especially if their employment situation is a bit tenuous during the pandemic. The same can be said about future mortgage payments. The best answer here is to contact a financial expert so you can get the personalized advice you need.
This is also an interesting time to decide if you want to take on a fixer-upper. It’s often a way to save money on the home sale itself, and if you have the time or developed some new DIY skills in recent months, this could be the perfect opportunity to put your personal stamp on a new home.
What will you do if you need gap housing?
There might be a gap between when you move out of your current home and into the new one. Where will you stay during that time? The friends and family you would have counted on pre-pandemic might not be able to or comfortable with hosting you now. Figure out what short-term living situation works for you and plan accordingly, whether that means lining up a generous friend, budgeting for an extended hotel stay or putting your things in self-storage.
Is it a good idea to do a virtual showing?
Some realtors and homeowners began doing virtual showings only this year to limit exposure to the virus. While some buyers have shied away from a home they can’t see in person, others have found it to be beneficial. Emma Banks of Apartment Therapy found that she was able to ask the seller questions directly, which they wouldn’t have been able to during a realtor-hosted showing, especially since she was looking at properties on the other side of the country. Here are some tips for attending a virtual home showing.
What should I know if I’m selling during the pandemic?
If you want someone to make an offer, you need them to feel at home and be able to picture themselves in the house. There are several ways to do this, but here are some of our favorites:
A lot goes into buying and selling your house. Get more tips, from deciding which projects to tackle for resale value to packing advice to what to do first when finally move in, from Schlage’s real estate resources.
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