The housing market has been shaken by the country’s total Covid-19 lockdown, but there are signs that it is now beginning to move again but with some uncertainty. So, buying a house after Covid-19 may be a good opportunity for first-time or lower budget home buyers to get on the property ladder.
However, looking for a home in the current situation may be very different to the usual processes.
Changes to expect when thinking about buying a house after Covid-19
The re-opening of the country with added protection measures like social distancing has affected the way people will look for new properties.
Changes you may notice include:
- A move to more digital marketing including virtual tours and 3D walkthroughs of a property online. This could be a bonus as it might make it easier to see if a property is right for you without having to visit it.
- A change in the type of sales on the market – perhaps a move away from auctions to fixed-price sales.
- Vendors being reluctant to have open homes as they do not want people in their properties.
- There may be fewer private sales. People may decide to enlist an agent to help manage both the sale and any necessary contact tracing.
- Negotiations and explanation of the sale process may take place by phone or video call rather than in-person.
If there is an open home you may also notice subtle changes during this process too including:
- Your name and contact details will be collected more stringently than previously when details were usually only collected for marketing purposes. Now, these may be needed for contact tracing so it will be important to fill out any form correctly.
- A limit on the number of people allowed in the home at one time. This may mean you have to wait to get in. It may also reduce the time you have in the property as the agent may need to limit viewings.
- You may not be able to access parts of the property or may not be able to touch things. For example, if you want to look in a cupboard or storage area, the real estate agent may have to open them for you.
Getting a pre-purchase inspection is even more important now
Getting a pre-purchase inspection is an important step in buying a property. But, if you aren’t able to get a good look at a property yourself as you may not buying a house after Covid-19, then it becomes even more important.
Innohome offers thorough pre-purchase house inspections which will satisfy the standard building report clause in your contract. We’ve adjusted our working practices to fit with any regulations such as sanitising and distancing.
Our inspection covers both inside and outside the property. You will receive a detailed written building report which contains a condition report for each area along with any recommendations for immediate repairs or longer-term maintenance. We can also provide a verbal report If you need results at short notice.
The report gives you a chance to understand the condition of the property. Highlighted issues may not be dealbreakers but may give you a chance to negotiate with the seller before going unconditional. To book an inspection get in touch.
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