Is it the right time to invest in real estate?
The coronavirus pandemic has changed how things are done in every area of human endeavor, especially in the hospitality and tourism industries. As the lockdown from the pandemic gradually eases and most industries resume activities, there are uncertainties on what the future holds. Due to reforms from the government over the last couple of years, the real estate sector has experienced different consolidations. There are however several companies like Crowd Street that are interested in providing clients with the information required to invest in the commercial real estate business.
Sense of security
Due to the uncertainties around this period, owning a property would go a long way in helping one settle in and capitalize on the already ailing situation. Physical assets are not known to yield immediate returns but are seen as perfect investment in the pandemic situation, where working from home is gaining immense prominence and individual safety and social distancing strategies are being enforced.
Performance over other assets
Acquiring a residential real estate property is a maximum stability investment. With the crash of the stock market due to the impact of the coronavirus, people are unwilling to invest their money in volatile instruments, so real estate looks very attractive at this point.
Availability of offers
Due to the pandemic, more real estate developers are encouraging different schemes and payment options to help home buyers determine the different companies to invest in.
Conducive home loan rates
Residential properties are known to be very stable in some countries, and this keeps them within the reach of customers interested in purchasing them. Certain countries are experiencing low home loan interest rates this means home loans are less expensive. With the global meltdown, some economies are currently experiencing home loan are on a record low.
The real estate sector has evolved due to the wave of technology and this is seeing many real estate developers explore newer technologies to improve the experience of customers. They are some digital platforms to buy a home without having to visit the actual property. With everything moving online, customers can also search and discover an apartment that fits their taste and is tailored according to their budget.
Increasing Demand for Ready-To-Move-In (RTMI) properties
More people are considering RTMI properties as a perfect option. What makes this lucrative is the combination of other beneficial factors such as all-time low home loan interest rates, and convenience on the part of the buyer.
You’re financially stable
Being financially stable implies having enough money to cover all real estate expenses without struggling to cover general living expenses. It also implies having a good credit score that means one has access to good mortgage rates.
You have enough equity in your first home
Real estate doesn’t always require you have money for the down payment that may be required. You might even explore an income property that could help to tap into the equity of secure investment property financing.