Buying Properties in times of Coronavirus Pandemic

With a complete lockdown being imposed across India, amid the Coronavirus outbreak, many among you may have been left in the lurch, especially if you had been contemplating a house purchase in the near future. The risk of getting infected has made many buyers and sellers stay back at home. Industry insiders, however, say that buyers and sellers must use modern-day technology to continue with their home-buying plans.

The Coronavirus fears have hit property markets worldwide. Thanks to technology, we are equipped with resources that will help home buyers and sellers through the pandemic. “Many have postponed their site visits or home-buying plans and home staging plans have gone for a toss but we know that we will adapt to this change in no time,”

Over the last one year, digital methods of property selection and home buying have grown like never before.

Amidst all this, how can home buyers ensure safety in their home search during Coronavirus?

Take your home hunt online: Our data suggest that most prospective buyers had already switched to online portals for home searches. It is time you let such portals and their advisory sections help you make an informed decision.

Choose from a range of properties: Typically, your choice of a home may be dependent upon recommendations from your friends and family or peer group.

Visualise better: Online portals give you sufficient time to sit back, go through listings, visualise each and every aspect of a dream home. Use this time to make decisions in the comfort of your home along with your family members.

Some of the common questions that buyers and sellers usually ask are will property prices fall owing to Coronavirus, will prices see a ‘correction’, will home buying and selling stop, will the capital market lose to the rental market, etc. It is important to understand that the housing market will bounce back from the temporary phase of inaction.