Let’s be honest, we’re all facing all kinds of challenges this year. Some people lost their jobs, other ones are starting a new business or working from home. The truth is that everyone is facing a different challenge at this moment.
It’s different for all of us. A global pandemic year has put us on the spot in many ways and all we can do is trying to adapt ourselves to the “new normal” – whatever it means.
I lost count on how many friends have started their home improvement projects. Some others are trying to sell their property to get a bigger place. While other friends have decided to go back to live with their parents to save some money during this difficult time.
I am personally looking for my first home, and it means digging up the property market in the UK for quite a while. But how to know if is it the right time to invest in a new property? Plus, what would be the real impact of Coronavirus on the real estate market?
We have no clue. But to start with, we already found some drastic changes in the real estate market in the UK. To start with, as most of us are also spending more time at home, we started to re-evaluate the concept of “home sweet home”.
But what is the new normal when it comes to the real estate market? Here are some valuable tips on making the most of your property searching now.
Think Outside the Box
I live in Birmingham, the second-largest city in the UK. There are a lot of properties in the city that could be a perfect match for my husband and myself. At the same time, it means the prices are sky-high in certain areas.
The good news is that living in the Midlands also means being surrounded by villages, towns, and cities that are connected by many different options in public transport. And better than this, the prices of a house or apartment in those areas can be quite affordable.
As we are all rethinking the idea of living in big city centres or how do we commute to work, it can be a great idea to start thinking outside the box – wherever you may live now.
Get Your Tools Out
I will be honest – math is not my forte. My husband does all accounting and searching on mortgage prices, interest, and budget. We need to get it right. After all, you are investing quite a lot in the search for your dreamy home.
So why not counting on a mortgage calculator to find the best deals and the right quotations before taking some important decisions?
This is a powerful tool to help you out understanding some important figures, fees, and expenses like insurance and other shenanigans that comes with a monthly mortgage payment.
Prioritise Space
The spacious home was one item added to my checklist of things to consider when buying a property. The lockdown has taught me that living in a flat with no community area can be quite hard.
Let’s state the obvious – the demand for a bigger space to work from home is making spacious houses a popular trend in the UK.
We are limited to a high street and a busy shopping area. No parks or green areas nearby.
Everything that I wanted during this summer was having a back garden or a balcony to chill during the warmer days. It’s quite claustrophobic to be stuck in a small apartment for five months.
Living in a spacious property can be a good investment for the future. After all, we never know when the COVID 19 days will be gone. Plus, we need to consider that new global pandemics are likely to happen anytime in the future.
