Why You Shouldn’t Be Afraid to Buy a Home in 2020

August 7, 2020

Buying a home is a dream a lot of people have. You get an idea in your head of what kind of home you are looking for in a price range you can afford, and you start to save up for it. Then COVID-19 happened. At first, daily life changed drastically for just about everyone. We are continuing to find a new normal but that doesn’t mean your dream of buying a home needs to be put on hold. Here’s why you shouldn’t be afraid to buy a home in the midst of the pandemic.

Home Tours

Seeing pictures of a house online is one thing, but most people want to see more than just pictures before buying a home. Due to coronavirus, the way home tours are done has changed. You may not be able to walk through a house but luckily technology is on our side. Our real estate agents at First Weber can give you a virtual tour of the homes you are interested in buying. Virtual open houses are available for some homes as well. Either way, there are options to take a better look at a home without needing to walk through it in person. The health and safety of our clients is very important to us which is why we have procedures in place to ensure that.

Low Interest Rates

Buying a home is one of the biggest purchases you will ever make. So, one thing to think about is what buying a home looks like right now financially. Home prices have not dipped during the pandemic but have slightly increased according to the WRA. Though you aren’t seeing are drop in home prices we are seeing a drop in interest rates. Over the last three months mortgage rates of hit five new all-time lows according to The Mortgage Reports. You may not be paying less for the principal on a home, but you could potentially save a lot on interest if you choose to buy now!

Buyer Competition

As expected, some buyers have decided to put off buying a home for various reasons. There are people who have experienced job loss or loss of income in some way during the last few months as a result of COVID-19 and that has made some buyers hold off. Yes, inventory is a little tight but there is also less competition out there in terms of buyers. Need help with the home buying process? Our agents would love to assist you! Click here to find a First Weber real estate agent in your area.

Home Search

First Weber sells real estate throughout Wisconsin: Metro Milwaukee and Southeastern WI, South Central Wisconsin/Greater Madison, Central Wisconsin, Northeast Wisconsin, Western WI, parts of MN, Michigan’s UP and Wisconsin’s great Northwoods. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com

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