The COVID 19 pandemic of 2020 affected the housing market (and every other industry, for that matter) in never-before-seen-ways. People lost their jobs, employees were forced to work from home, and some people even lost their loved ones to the deadly disease. Needless to say, fear was at an all-time high in 2020.
While we’d like to say that things are now back to normal, it’s far from the truth. Many industries are still experiencing disruptions and while the housing market is doing better, it’s still tough to buy a home in 2021.
In the following guide, we will outline the best steps to take if you are looking to buy a home during this uncertain time. If you still have questions after reading through this article, an experienced mortgage professional can help you along every step of the way in buying your new home. The professionals at Rex Homes have also provided a helpful article on their website here: https://blog.rexhomes.com/what-to-do-when-the-housing-market-and-the-world-get-turned-upside-down/
Recognize That There is Always Opportunity
While purchasing a home at this time is difficult due to historically low interest rates and low availability of houses, it can still be done. Granted, it will require a little more effort in your search, but where there’s a will, there’s a way. Mortgage professionals are some of the best resources to tap into at this time. These housing experts know the ins and outs of the market and can help guide you toward a home that will fit your needs.
Additionally, if you have no plans to move at this time, you may consider a mortgage refinance. Refinance rates are still phenomenally low, and many homeowners are taking advantage of them. So, whether you’re moving, refinancing, or none of the above, you have options during this tumultuous time.
Use Technology to Your Advantage
The internet is one of the best places to start the search for your new home. In fact, the internet is now the starting point for searching for nearly any purchase these days. It’s incredibly simple to fire up the computer, log into your Zillow account and see what houses are on the market.
Additionally, many mortgage professionals offer a wide range of options for keeping you safe while also letting you tour your potential new home. Video tours, video and phone conferencing, and other virtual methods all enable you to maintain social distancing while still getting an excellent initial sampling of some home options.
The world has certainly changed a lot in the past year. The virus is still widely circulating, local and global political changes are taking place, and industries of all types are doing their best to figure out how we can return to a sense of normalcy. But none of this needs to prevent you from making a change to your current housing situation. If you are looking to buy, you can still do so. If you are looking to refinance, it is a great time to do that as well.
Regardless of your housing needs, it’s important that you know that mortgage professionals are available to help you. Call today for a consultation.