Should you buy a property or wait during pandemic?
Buying a property is always a hard decision and Covid 19 makes every decision harder than ever.
However, with the historic low interest rate if you can buy and hold a property for medium to long term, this might be good time to buy.
Finance is the first fact that everyone needs to consider when it comes to buy a property. If you have done the math and have ability to carry a new home, you can take advantage to the low interest rate.
Everyone has a reason to move or buy a new property, make sure that the new home will fit for your needs both for today and future. If you like the house and neighborhood then it is easier for you to live in your new home for at least five years.
Working with an honest and expert real estate agent will help you to understand how far your dollar will go in real estate based on your situation and your needs.
Remind yourself that real estate is a long-term investment. If you are looking to buy and sell quick, it is a risky time to do real estate investment. Also consider that each transaction has its own cost such as legal fee, land transfer and realtor professional fee.
You must be honest with yourself and once you have carefully weighted your personal needs against your financial obligations then you can make your decision and take an advantage from the low interest rate.