The last 18 months have been bizarre and surreal by anyone’s standards. But one positive thing to come out of all the chaos has been some great real estate trends. Whether you are in the real estate game or are looking at buying or selling a house, there are some real estate tips that everyone should be aware of.
It is useful to understand past, present, and future trends when it comes to real estate, and we would all enjoy knowing a little bit more. While you may not currently be in the market, it doesn’t hurt to know, just in case!
Home Availability
There is currently a shortage of real estate inventory available. This means that as a seller, you are in luck, but as a buyer, you may have a bit of a harder time finding your dream home. Also, remember that the seller becomes the buyer afterward, so try and get all your ducks in a row before you complete your sale. To help you along if you are looking to buy, there are a few real estate tips that may help you out.
- Get your preapproval sorted
- Think outside the location box
- Replace “wants” with “needs” and upgrade over time
Pricing and Interest Rates
While property prices may be on the increase, the interest rate is the lowest in about 30 years. This means you can turn a nice little profit on the sale of your house.
Rent-to-Buy
If you are not ready to buy, leasing your dream home is the next best option. Some landlords are willing to negotiate a rent-to-buy contract, so if you decide after a while this is the house for you, then have a chat with your landlord about this option.
Real Estate Online
While we have all enjoyed scrolling through housing options on real estate websites, there has been a huge push in virtual property marketing. This includes virtual house tours and open houses, as well as rental inspections and can even tenant screening.
One of the benefits for real estate during the pandemic is that it kick-started a whole online presence. This has worked incredibly well for the industry, and everything from start to finish can be done virtually.
Real Estate Tips for Future Trends
While all the above seem good and well, you may be wondering what the future of real estate is looking like. While things are still uncertain in most economies, the real estate tips tend towards onwards and upwards.
There is no sign that real estate investing will head into a downward spiral in the coming year or so. Buyers are still looking and buying, and the property demand is still great, with no sign of the sellers’ market falling. Buyers have become less about location and more about finding houses that cater to their needs regardless of their location.
In the Market
There may be a lot of uncertainty in the future, but something you can count on is that real estate is still a good investment. With the right real estate tips and the right company at your side, you can buy or sell your house without much hassle.
If you are in the market to buy or sell, contact us today, and one of our friendly team will be happy to assist you with any questions you may have.
