The housing market is changing and with so much uncertainty, the First Time Buyer could find themselves questioning the process more than ever. With the virus setting out some drastic changes to the process, we seek to answer some of those fundamental questions that a First Time Buyer might be asking as lockdown eases and the market begins to reopen.
There is so much uncertainty in the economy, is now a good time to buy?
A drop in house prices due to the economy could be just what the First Time Buyer needs to achieve their dream of getting on the property ladder. With so much imbalance in the housing market, this drop could help many First Time Buyers own their first home. There is always so much to consider when making your first home purchase at any time so don’t be afraid to seek help if you feel you need it.
How to choose a location if you can work from home
Lockdown will have raised many questions for people about location with working from home becoming a requirement across the country. During this time, you may have found your priorities have shifted and what you thought you wanted in a house no longer being true. That top floor apartment with the tiny balcony might not be as appealing as a house with a full garden should we find ourselves in lockdown again. Consider talking to your employer about what the working arrangements might look like when this is over, and if working from home might be an option, you can think about what might suit you longer term.
With an understanding of your budget, write yourself a list of things your ideal home would have, such as a garden, garage or spare room for an office, and highlight which are essential. Then you can begin to look for places that might suit in your price range. Without the need to be near work for some of us, this may open up a host of areas that wouldn’t have been an option before.
What’s the best practise for virtual viewings?
A virtual viewing can seem quite daunting to someone who may not have viewed a house before, but there are many ways to get the most out of a virtual viewing.
- First off, start with a large screen, you don’t want to be trying to pick out detail on a phone so set yourself up on a laptop or TV if you can.
- Next, start from the street to get the full picture of the property and spend as much time as you need looking around.
- Check floor plans against measurements and map out spaces if you can to get a better sense of the property size.
- Finally, don’t be afraid to view it several times. If you’re looking to buy the house, you want to ensure it is the right fit for you!
Adapting to the new house buying process can seem a little daunting, but it could also open up a host of opportunities for the First Time Buyer!
Michaela is the Head of Communications at StepLadder and is passionate about helping people be at their best!