Becoming a homeowner is a huge commitment, both in terms of time and finances. However, 2020 is bringing new challenges that can have dramatic consequences. Making your homeownership dream come true requires careful considerations. As many professionals have found themselves laid off during the pandemic, many future homeowners are worried about planning safely ahead of the purchase of a new property.
It’s time to observe and analyse the new obstacles that the pandemic is putting in our way. Understanding how to recognise and avoid costly mistakes that you will live to regret can make a huge difference. Here is what the homeowner of the future needs to think about:
Don’t ignore health risks
The days of visiting properties are not gone. However, for the foreseeable future, potential buyers need to be smart about planning their visits. Reaching out to real estate companies that provide virtual tours, such as the digital visits to see the property designs by Bellriver Homes from your home, is a game-changer. For the time being, it becomes essential to reduce contagion risks and limit physical interactions. Ideally, new builds should be safe to visit, as risks are limited. You can also ask the realtors whether the property is sanitized after each tour. However, inhabited residential areas could be a source of infections.
Don’t overcommit for fear of missing out
How long should you wait before you make an offer? Should you offer to pay a high price to guarantee you can buy the property?
While common sense would advise against signing up the first mortgage deal you can find, new home buyers are worried about missing their chance if they don’t act quickly. Unfortunately, this behavior could lead to an unbalanced mortgage deal or the accumulation of unsecured loans to cover mortgage repayments. Do your homework to make sure you understand how much you can afford to pay. In those challenging financial times, there is no need to create additional difficulties.
Don’t decorate in a rush
A lot of new homeowners believe that they should decorate their property as they move in – or even ahead of the move. In reality, you may think you are saving time, but it is a costly practice that can come back to bite you in the bum! Taking the time to get to know your home and get used to its nooks and features can help find creative and cost-effective solutions. Check this smart HCVA cover work, for instance, that transforms an eyesore into a decor accent.
Don’t make assumptions
It’s your home. Presumably, you’re allowed to add an extension, right? A lot of new homeowners face significant costs and problems because they fail to double-check all the facts. Some properties may not be suitable for building extensions due to their locations or historic protection, for instance. The most common decisions that are based on wrong assumptions refer to:
Home extension projects
DIY safely and insurance cover
Locks, doors, and windows safely
Don’t decide anything until you know for sure what the consequences would be. In a post-COVID world, a lot of people prefer to reduce delays by avoiding contacting the authorities or their insurer to validate decisions. Don’t make the same mistake!
The days when saving enough money for your deposit was a homeowner’s only worry are long gone. In 2020, becoming a homeowner means you have to worry about contagion risks, financial instability, affordable decor, and proper home maintenance. The bottom line: Don’t cut corners that you could regret later!
