When it comes to home buying in the middle of a pandemic, it can be hard to know when a good time to buy a home is and what to expect when you begin your journey searching for that particular home. How are things different with COVID-19 and in what ways has the market changed over the past year that could have an effect on home buying this year? Let’s take a closer look.
As we saw last year, the mortgage rates are extremely low and are believed to stay low for a while. House prices are predicted to rise, however, statistics show that they will rise slower than in 2020. Home buying this year requires that you stay ahead of the game. You’ll want to know where you place with lender qualifications, you’ll have to seek out houses before others, and be able to schedule socially distanced house tours amidst the pandemic.
Right now, there are more buyers looking for houses than there are houses. Like was previously mentioned, you’ll have to stay ahead of the game and find the available homes before others do because the homes currently for sale are in high demand. We recommend talking with your local real estate agent who can better provide you with the house options and schedule showings for you so that you can navigate through your house competitors.
Making An Offer
With the marketing being hot, you want to think carefully about how you go about making an offer. Most sellers will not want to agree to an offer that is contingent on you selling your previous house. Don’t offer more than you can afford, but talk to your real estate agent about how to make a strong offer on the particular home you are interested in.
COVID-19 Home Buying Changes
Everyone had to adapt to new ideas when Covid-19 struck the beginning of last year. With that being said, real estate offices around the world figured out how to continue selling homes amidst the pandemic by offering virtual home tours, Zoom meetings with agents, e-closings, and smaller, socially distanced open houses. These changes are still in effect right now, so be sure that prepare yourself for these COVID-19 updates as you begin looking for your home. Your real estate agent will do everything they can to make you feel completely comfortable and confident in your home buying experience regardless of these small adaptable changes.
Something That Hasn’t Changed In 2021
With all these changes, you may be feeling a bit stressed when you begin your home buying journey. However, something that you can still do to prevent added stress from arising is by speaking with your lender and reviewing your credit score so that you can know exactly what you can be pre-approved for. We recommend getting all your paperwork organized before your schedule a consultation with your real estate agent. With that being said though, the agency you choose to help you find the perfect home will also be able to help you make sure that you have all the paperwork and credit scores need. Don’t hesitate to ask them questions. That is what they are here for.
Contact Charles Burt
When you are ready to begin looking for your home in 2021, our real estate agency would love to help you. You can contact our office by calling us at (417) 782-1234 or by visiting our website at charlesburt.com Let us help you take advantage of the low mortgage rate. Don’t let the pandemic or house-hunting competition scare you from purchasing the home of your dreams. Call us today!