With prices at their highest and inventory at an all time low, now is a great time to sell. In addition, interest rates are at their lowest in history, giving buyers maximum purchase power. As a result, many are looking for homes and are willing to pay top dollar. Call your Key agent today for more information about the many advantages to buying and selling in today’s market.
If you do decide to move during these challenging times, here are some tips to make the process as smooth as possible:
Get Rid of What You Don't NeedDecluttering and downsizing should be implemented during any move, no matter the state of the world. Many of us have recently been spending more time at home due to stay-at-home orders; use the downtime as an opportunity to go through your belongings and get rid of what you don't use, need or want anymore. Don't waste time and money by moving items to your new location that are just going to get tossed out soon anyway.
Go VirtualThe safety of your family should always be your top priority. Complete as many necessary tasks as you can virtually to avoid traveling when it isn't safe to do so. Many real estate professionals have been offering virtual home tours during the pandemic, and this practice is something that is likely to continue moving forward. Communicate with your agent via video chat, phone and email as much as possible. Important paperwork and other steps involved in the closing process are often allowed to take place online during times of crisis.
Assess Your FinancialsAny nationwide emergency will likely impact the economy, putting many Americans in a state of unease. Today, the country is facing massive economic upset and widespread layoffs; according to the National Bureau of Economic Research, the U.S. officially entered a recession this February. Before you fully commit to moving, make sure you understand your financial situation and what you have to work with monetarily.
Ask yourself: what'll my income look like over the coming months? How much cash and credit capacity do I have? Do I have a plan in place to stay on top of my bills? With these answers, you can start to get a sense of how your budget will change and if you can afford a move.
Do What You Can on Your OwnServices you might typically use like shipping and professional movers are likely to be disrupted along with most other industries. To avoid paying hefty service fees or endure long wait times, and to ensure the safety of your family and workers, you might consider tackling as much of your move on your own as you can. Consider doing your own packing and moving, and realize that if you're shipping any of your belongings long distance, they may take longer than expected to arrive. If you do need to pay for assistance, research different companies and ask questions about how their operations have changed during the pandemic.
Moving is no easy feat, especially when turbulent times put a strain on your plans. Do your research, educate yourself and make sure safety is your top priority!
If you are looking to buy a new house soon, reach out to JenniferMacLeod@123soldteam.com to get all your questions answered.
Reprinted with permission from RISMedia. ©2020. All rights reserved.