COVID-19’s Silver Lining — Buying a New Home
Just when you thought nothing could be more surreal than the Oakland Raiders moving to Henderson, Nevada and turning into the Las Vegas Raiders, along comes a pandemic. And no one needs to tell you that COVID-19 is serious business. Self-isolation. Teetering economy. Physical, as well as mental, pain and suffering.
Like most things, though, there’s a silver lining. Just because we are supposed to quarantine in our homes doesn’t mean we should stop buying them. For many of us, this time of forced self-reflection will result in well thought-out decisions. And home-buying deserves all the pre-thinking it can get.
Where were you when directed to shelter-in-place? Hopefully in a good place and your lifestyle has been minimally interrupted. But maybe not. Were you in the middle of a big game-changer? Say a job opportunity? New relationship? In escrow to purchase a new home? Thinking of selling your home and relocating to the Las Vegas area?
No matter where you were, please continue the action steps to realize your dreams. So maybe you can’t join an open house caravan right now, but you can house hunt virtually using the tools the Internet provides. After all, there’s no time like the present to:
· research which school district is best suited for your children,
· sharpen the family budget and see how much house you really can afford, or
· start cleaning out and organizing.
It’s too early for data on COVID-19’s effect on real estate; that will be coming in a month or two. Remember, even during highly unusual times like a pandemic, sticking to the basics is the best way to go.
Some basics:
· Know how much you can spend. Yes, interest rates are low, but that’s no reason to spend beyond your means. Housing prices likely may drop, and you don’t want to overspend.
· Location. Location. Location. Homes in better school districts remain a better investment.
· Give all contracts the same eagle eye. Sure, interest rates are low but that doesn’t mean there aren’t any unnecessary junk fees tacked on.
Who knows what’s going to happen? Nobody, that’s who. Only you know what’s best for you, and there’s no time like the present to figure out what that may be. Then, who knows, maybe this era of self-isolation just might turn out to be the best thing that ever happened to you and your family.
As for the Oakla-, uh, the Las Vegas Raiders, the team is participating in the virtual NFL offseason program. As of this writing this post, there will be virtual classroom work and videoconferencing through May 15. Then, the NFL will consult with medical experts to assess the situation. If all 32 NFL teams receive clearance to open their facilities from state and local leaders, they will start traditional offseason training. If all teams are not cleared, virtual on-field workouts commence May 18. All NFL team facilities will remain closed until all are cleared to open.
Stay safe!
Is there a real estate- or relocation-related topic you would like to discuss in this blog? Let us know at info@raidersrelocators.com. We look forward to hearing from you.
