Should You Buy or Sell a Home Now?
It’s evident that the coronavirus pandemic has changed how we think about even the most common life events. Buying or selling a home is certainly one such event people are giving greater consideration to more than before. Although there are many people who have no choice when it comes to buying or selling a home now, if you do have a choice, you may be wondering if it is the best time to buy or sell.
Buying a Home
If you’re thinking about buying a home and don’t have a home to sell, there are both great aspects and more difficult aspects to buying now.
- Interest Rates Are Low — The lower the interest rates, the more home you can afford OR the lower your monthly payment, so this can make it a great time to buy.
- Inventory is Low — Less homes available may make it hard to find just the right home. If you do find your dream home, it may go for above the asking price due to multiple offers.
- Expanded Timeline — Because of COVID-19 restrictions and social distancing protocols, some industries may take a bit longer than previously to do the same job. This may mean that your appraisal, home inspection, or loan approval takes more time than it would have prior to the pandemic.
Selling a Home
As a homeowner, perhaps the biggest decision you’ll need to make is whether you want strangers in and out of your home who may or may not be ill. Only you can make that decision. Because of low inventory, many homes are selling quickly and with multiple offers, which puts you in the driver’s seat when it comes to selling your home. Remember, it’s not only the potential buyers in and out of your home, but also Realtors® appraisers and home inspectors. Of course, you do also have the option of leaving the home empty for sellers to tour after you move.
It is possible to both buy and sell a home now, and it may be a great time to do either or both. If you find yourself needing a home inspector, Pillar To Post can help. We offer home inspections for both buyers and sellers and we’re taking every precaution while performing our inspections. You can still count on us to provide you with a highly detailed report of the home. Call us today at (727) 934-8339 to schedule your inspection or to ask questions about our process.