COVID-19 and home buying: Finding focus in a tumultuous economy
In case you missed it, we are in the middle of a series on how to look at home buying while staying safe during a global pandemic. If there is one gift of the COVID-19 season, it is that many of us have more time and less distractions to digest information, to refocus our priorities, and to resurrect goals we might have placed on hold.
So what better time to unpack those homebuying aspirations, brush them off, and look for ways to refocus yourself.
The best part about tip 3? Regardless of income levels, you can still participate in it!
Here are Tips 1 and 2 to supercharge your home buying motivation.
- Tip 1: Secrets of Home Buying in COVID-19
- Tip 2: What you need to know about buying a home and your debt during COVID-19
TIP 3: Watch and save
This pandemic will impact the market, which in turn will impact your employment, and that will impact your ability to buy a house. How’s that for some encouragement!
Our market won’t escape COVID-19 unscathed, but that doesn’t have to depress you. The market may tank, or it may tank and rebound… let me rephrase that… the market will rebound, it always does.
So how can you be smart now so when the market sways, you are on solid ground?
Focus on saving money and be confident in the fact that real estate is always a solid investment.
Save everything you can now. Eat-in (oh wait, dining out isn’t an option anymore, so let me rephrase again), eat-in, don’t drink + amazon and try to stay away from watching Netflix or Amazon Prime movies at exorbitant costs.
Look for ways you can save little bits of cash in every area of your life. A little + a little = a lot, and if you focus on little changes now, it will add savings to your pocketbook later.
Real estate has long been and will continue to be, a solid investment, so as you watch the market and save your money, you will be in a better position to buy low and later when you want to buy your next home, to sell high.
How’s that for a winning strategy?
So what IS the market going to do?
If you missed my video in part 1 of this series, it’s a short, but good watch that will hopefully reassure you that what is to come in the market looks very different from what happened in 2008. There are very good reasons for this. Check out the video below for more details…
Need some help in tracking market changes so you can make great buying decisions?
Did you know that my team and I put together a monthly Desert Housing Report that covers buying and selling trends both locally and nationally, hints on what is happening in the economy, and other tips to help position you for a future home purchase.
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