Ways Buyers and Sellers to Be Proactive in a Post-COVID-19 World

By Staff Reporter - 27 Jul '20 16:06PM
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  • Ways Buyers and Sellers to Be Proactive in a Post-COVID-19 World
  • (Photo : unsplash)

Whether you're interested in buying a house or selling, you don't have to wait until the pandemic has subsided. There are a number of ways that you can position yourself to achieve your real estate goals without going crazy, and here's how. 

Tips for Sellers

1. Remove personalization and clutter

We know you absolutely love your collection of Grateful Dead tapestries and need to have a room dedicated for all of your music equipment... But, potential buyers aren't going to be able to envision themselves in a house like that. You know what that means - it's time to make your home as neutral as possible. That means painting over colorful walls, removing decor that isn't going to appeal to most people, and even decluttering closets, shelves, cabinets and so on. 

2. Tackle those honey-do projects

It's easy to get swept up in everyday life and it's incredibly easy to push small DIY repairs to another day. However, when you're trying to sell your home, the less work the home needs, the better it'll look for homebuyers. Some DIY projects include painting, updating light fixtures, repairing drywall, trim the bushes and so on. 

3. Deep clean every inch of the home

Although your home may look clean, it may not be clean enough for buyers. The sad fact is, buyers are scrutinizing every aspect of your home. They don't want to see cobwebs in the corner of the den. They don't want to look in the bathroom and find hard water stains around the drains. They definitely don't want to see oil marks on the garage floor or a dirty pool. So, that means you're going to have to break out the heavy duty cleaners, strap on your yellow rubber gloves and use some elbow grease to get your home spic and span. Trust us, the hard work will be worth it!

Tips for Buyers

1. Be pre-approved for a mortgage

Even before the pandemic, buyers should have their pre-approval letter in hand when talking to a real estate agent. Your pre-approval will give both your agent and yourself a real budget to work with. Plus it shows the agent that you're serious about purchasing property.

2. Save as much as you can

It is understandable that during these uncertain times, saving money probably isn't high on your list of priorities. However, the more money you can save, the higher down payment you can make, which will lower the amount you need to borrow. The less you borrow, the lower your mortgage will be. But, not only will having a higher down payment help your bank account, it also gives the seller peace of mind in knowing that the transaction is likely to be completed. 

3. Watch the market

If you haven't started the listing or homebuying process, you should always keep an eye out to see when is the best time to dive in. By watching the market, you'll know how far your money will go, what comparable homes are selling for, and so on. 

Going forward post-COVID-19

These tips will help you navigate the real estate market during the pandemic, but they will also help you in a post-COVID-19 world, too. Even if you decide that now isn't the best time to make a move, it never hurts to be prepared. Of course, when in doubt, it never hurts to consult a real estate agent for their opinion about how to proceed - or if at all. 

For more on COVID-19 and real estate, check out HomeLight Top Agent Insights Survey from Q2!

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* This is a contributed article and this content does not necessarily represent the views of newseveryday.com

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