May 5, 2020
Spring is Still Time for Home Buying
It’s spring. That long-awaited time of year to get out. Gather with extended family to celebrate Easter. Enjoy Red Sox baseball.
Yeah, okay, this spring hasn’t exactly worked out that way. Between COVID-19 and less than cooperative weather, we really haven’t been able to do a lot of the things we’re usually accustomed to doing this time of year.
But there is one spring tradition that’s actually still possible – buying a home.
Sure, like a lot of other things, COVID-19 has caused some big changes and slowed down what’s historically been the busiest time of year for buying and selling homes. But that doesn’t mean you can’t still buy a home. In fact, there are actually some favorable reasons to buy a home right now, including:
- Low interest rates. Mortgage rates are at their lowest levels. For home buyers that means the opportunity for lower monthly payments. That’s good news, right?
- Less competition. In recent years, it’s been competitive out there for home buyers to land the homes they want with many forced to waive inspections and pay well over asking prices. COVID-19 has changed that. Many families are opting to put their plans to buy a home on hold as they contend with reduced income, unemployment, and other financial uncertainties. For those planning to buy homes that means less competition – and a potential opportunity to negotiate better prices.
Prepare for a new, not-so-normal home buying process
If you’re in a good financial position to purchase a home, you do need to understand, though, that COVID-19 has dramatically changed the process. With social distancing regulations and shelter-in-place orders in many states, shopping for a home is not as easy as it once was. You may not be able to attend open houses or tour homes without following proper CDC guidelines for social distancing. In some situations and areas, you may not even be allowed to go inside homes, as sellers may not be comfortable with having “strangers” in their homes. As a result, you may have to rely heavily on virtual viewings to make your purchase decisions.
We’re virtually here to help you.
If you do decide to move forward with your plans, Avidia is here to help you. Getting pre-approved for a mortgage is the best first step you can take in the home buying process. You can apply for a mortgage without ever leaving your home. And of course, we’ll be there to guide you virtually every step of the way with online tools and personal expertise you need.
To learn more about we can help you spring forward with your home-buying plans, call Andy Nawrocki (NMLS # 1526357) at 978-567-3652 or contact him here.