When all is said and done, buying a home is exciting—and a milestone to be celebrated. But if you expect each step of the process to be a thrill ride, we're here to tell you you're sorely mistaken. In fact, between the rush of the hunt for the perfect place and the extreme satisfaction of crossing your threshold as a new homeowner, the rest of the home-buying process can be a bit of a slog. There are many unglamorous parts of buying a home—some of which many consider downright boring. Do the words "financial due diligence" make your eyelids feel heavy? Yeah, ours too. But when you know what to expect and why, it’s a whole lot easier to deal. So pay attention to these three very mundane—but very important—parts of the home-buying process. We've outlined why they matter and how to get through them without losing your sanity.
In Flanders fields the poppies blow
Between the crosses, row on row,
That mark our place; and in the sky
The larks, still bravely singing, fly
Scarce heard amid the guns below.
- In Flanders Fields, John McCrae
How will the Pandemic affect real estate values?
• Buyers hope it will lead to lower purchase prices.
• Sellers hope their property values will remain at pre-virus levels or even increase.
• “Hoping” has nothing to do with how real estate values rise or fall.
Unless you are buying a property in each and every state, what’s happening in real estate markets across the country is less important to you than what’s going on in the neighborhood at the top of your preferred-purchase list. If you plan to buy one, two, or three properties over the next few years—perhaps one home, one recreational, and one investment—that may spread your attention across one, two, or three real estate markets. The value situations for each location you consider may be dramatically different for you and will be specific to each local market.
Buyers benefit from understanding the value factors in play for a real estate market they want to buy into. The Covid epidemic upheaval of social and economic norms and patterns may alter local market value patterns. As months roll on, the ways in which value is affected will become evident. How will you know where location value lies in your preferred real estate market?
Property value in residential real estate markets has traditionally been linked to four key location value factors:
Moving can be a stressful process and you could experience significant strain on your finances throughout this period. However, with a few simple changes and the careful handling of your finances, it is possible to maintain stable funds whilst moving. In this article, we will be giving you insight into what you should consider before your move to ensure you are not caught out by any additional charges.