Coronavirus has recently impacted most aspects of our lives. Because people have been asked to social distance and stay at home during this time, it has certainly changed the way the real estate industry has been working. Many people are asking “Can you buy or sell a house during COVID-19?” Waltham Real Estate Agents are here to say, yes. While it is possible to buy and sell during this time there are different precautions and ways to go about the processes.
Pros and Cons of Buying A House During COVID-19
Waltham Realtors have mentioned that there are both pros and cons to buying a home during the Coronavirus crisis. Some of the pros include less competition, not as likely to get into a bidding war, opportunity to possibly negotiate a better price or closing date, and cheaper mortgage payments due to the rates being at a record low. Some cons include the possibility of not being able to qualify for a loan if you’ve been laid off, deals may take a lot longer, and virtual showings may not be enough to make a decision if private showings aren’t available.
Pros and Cons of Selling A House During COVID-19
Just like buying a home, there are pros and cons to selling a home during this time as well, stated a Waltham Realtor. Pros include less competition as many other sellers have paused their selling process. There is also a chance that more people come across your listing. This is due to the fact that there are fewer listings currently available and people have some more time on their hands to do a deeper search. However, a con would be having fewer buyers which could result in not getting the best deal for your home. Another con includes people not being able to commit to buying your home if they cannot see it in person beforehand or are unsure of what their financial status will be after COVID-19.
Can You Still Look at Houses During Social Distancing?
Virtual showings have become the main way people are looking at properties during COVID-19. However, Waltham Real Estate Agents are still doing in-person showings although they are doing things differently to take more precautions. There are currently not many open houses to tour properties, instead, Waltham Realtors have been doing private showings with only a couple of people at a time. Safety precautions such as wearing gloves and masks, not touching anything, wearing booties over your shoes, staying 6 feet apart, etc. are being taken during these showings.
Contact A Waltham Realtor
If you’re looking to buy or sell a house during the COVID-19 situation, reach out to a Waltham Real Estate Agent! Waltham Realtors will assist you and walk you through the whole process of buying or selling your home during social distancing. We are all in this together and want to make sure the buying or selling process is not too difficult or put on hold for people who are eager to start the processes. Contact Waltham Real Estate Agent Hans Brings today!