The coronavirus is a worldwide pandemic that has overwhelmed the world. Almost everybody across the globe finds a safe heaven within their homes while we also see an economic slowdown with multiple businesses finding it difficult to survive. One of them is the aircraft industry which is one of the hardest-hit ventures. The cost of damages is expected to reach $113B in 2020. The real estate industry has felt the heatwave of the pandemic, making buyers and sellers more concerned about the real estate investments during this period.
Should investing in real estate decrease in the midst of the coronavirus pandemic? Louis Glickman said that The best investment on Earth will be earth. Is it still the best and would it be a good idea for us to keep on putting resources into it during or after this pandemic? What you need to think like an investor or real estate agent? Don’t worry, we will solve all your queries in this article. Let’s take you down to the various aspects of real estate during this corona outbreak!!!
Will it be Safe To Invest In Real Estate During Lockdown?
Probably the greatest inquiry posted by financial experts / specialists is whether it is as yet safe to put resources into real estate during this worldwide pandemic. All things considered, this isn’t the first occasion when a pandemic has happened. However it might be the first occasion when it’s happened on a worldwide scale. There was a huge effect and damage which was done even during the SARS and Ebola virus pandemics in Asia and Africa but that was not local in nature and did not affect the entire globe.
Worldwide markets are held together by a strong bond of trust. The gloomy days produced by this pandemic have individuals mulling over their speculations. In any case, one thing is sure, the infection will clear and the business sectors will recuperate and return to their typical way. We have seen harder times and only better days are to come next.
Why You Should Invest In Real Estate
Talking about The Real Estate Industry or any other industry, possibly the way we deal with things and the way we do business would change. But, for now, Real Estate is the focus and we would like to bring around and elaborate the changes which would occur in the way real estate industry would be seen by the world. We have picked up a few pointers which would in turn reduce your efforts in searching and would give you the required information in the best possible way.
Low-Interest Rates
Overall, the interest rates have reduced. This has allowed businesses to take the requisite advances and are expected to keep running. Lower rates of interest by banks increases the purchasing power of individuals who need to enter the real estate market. So as a real estate agent, there are chances of more leads and more people will be purchasing a property.
Market Strength
Even though the overall market has slowed down, real estate is the only investment which has seen minimum down trend and has held its forte. Compared to the other investment options, Real Estate still remains the safest and the most reliable and holds value in the eyes of the investor as well as the seller. The other businesses in comparison including tourism, hospiyality and entertainment have taken a huge hit during these difficult times. Financial specialists are exploiting the low-loan costs combined with anticipated lower deal costs of properties to purchase more properties.
Pandemic Sale
A pandemic that goes on for a significant stretch regularly causes alarm deals. Individuals exchange their advantages to guarantee income to take them through the pandemic. Investors are consistently watching out for properties that are put on special pricing during this period.
Reason For The Best Time For Real Estate Investment
The pandemic coronavirus has disrupted all the markets and businesses and has also, to some extent has affected the housing market. This is the right time for the people to invest in the real estate market as this will fetch a huge amount of return in the coming days. But there are some points which make it an opportunity for buyers to invest upon.
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Tangible Asset
The first thing is that land, properties, flats are of tangible nature and will not change over time. They come under the non-volatile category i.e they remain the same for years if left untouched whereas the stock market is of volatile nature and will change overnight. This sense of security makes it feasible to invest in real estate as these assets won’t be changing overnight.
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Attractive Prices
During this crisis, people are in need of money for running their lifestyle, due to which people are selling their lands and properties at much cheaper rates. Adding to that, people are giving offers so as to get customers for their properties. People love to have a good deal on their purchases, they like to have more lucrative offers. This not only allows sellers to gain more attention but also the customers to take advantage and buy properties at a very lucrative price.
Also during this time, you can easily get payment options and loans at a much cheaper rate which will make you purchase your dream house.
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Long-term investment
As we all know, buying land or real estate is never a short term investment, rather, it is a long term investment process. Buying land will not give immediate profit, but it will fetch you a profitable business over a long period of time. Investment in real estate brings a high return on investment in the long term, so considering this fact making a purchase during this time will be a future investment for you.
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Low home loan rates
Due to the corona outbreak, various state governments have given relaxation on home loan interest rates. This relaxation can make the best opportunity for buyers to make an investment in real estate.
With ease on loan, you can easily think of making an investment in your dream home. Lower home loan rates will increase your budget and will allow you to go for an extra edge of your budget while making a purchase.
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Time at your disposal
Guess what, you won’t be having a much time constraint now i.e during this lockdown period, most of us are free and are staying at home. This brings an ample amount of time at your side, which you can utilize to analyze the market and make a deep research on real estate. You can negotiate with realtors to get the best pricing for the home or property which you have selected to make an investment.
Conclusion
This is a tough time for all of us but thinking like an investor can fetch you good returns in the coming days. It’s your time to think on the right property and do the best research so that you can get your dream house at affordable rates. Feeling confused about where to start? Just drop us a message and our expert will get in touch with you and take you down to the best dream home that matches your requirement.