Real Estate has changed drastically post the COVID-19 Crisis. In mid-2021, Real Estate experienced sudden demands and new requirements. As Work From Home and many Businesses went for cloud services, property demands in remote places at cost-effective prices are in high demand.
After a prolonged slump, the real estate market seems to be upswing again. Homebuyers are on a buying spree because there aren’t many properties for sale, there’s a lot of money available, and interest rates are at an all-time low. New data from ANAROCK Research shows that in the first quarter of 2022, around 99,550 homes were sold in the top seven cities, which is the most homes sold in any quarter since 2015.
How is COVID-19 Impacting Real Estate?
- Even though it is hard to predict what will happen in the long run, the immediate market effects of the COVID 19 crisis have been made clear. For example, the public market sell-off of certain types of Real Estate has been nothing short of dramatic.
- Public and private enterprises are working tirelessly to ensure that employees, renters, and end-users of space are protected while making difficult commercial decisions. Most leaders in an industry try to find the right balance between keeping their capital safe and improving their competitive edge.
- You can also plan to buy a property abroad since the Market is in the buyer’s favour. This is definitely a hot deal for all the property buyers out there!
- Different countries may have their respective Mortgage calculations. If you plan to buy a property in the United Kingdom or the U.S, you can estimate your loan on Mortgage Calculator U.K.
Is 2022 the right time to invest in Real Estate?
A Graph by BBC News shows that the Real Estate Market is soon to rebound and rise in the Market higher than ever.
Even Abroad, Property buying is in great demand these days. The mortgage is cost-effective, and the loan payment is more accessible than before.
If you plan to buy a house or an apartment in London, this is the right time for you. London is the Queen of all the cities in the U.K.
The property prices will eventually skyrocket in the future, resulting in double financial benefits.
If you already own a house in the U.K. and want to refinance it, just don’t wait anymore and go for it. You may
Should I rent or buy a property?
- This is the most asked question in Real Estate. Buying and renting have their own terms and conditions. However, in my suggestion, instead of renting, you can avail of a loan in the long run.
- The Mortgages right now are low, maybe equal to the loan amount. So, instead of renting it, you will own that place. If you already have a place in mind, take a look at the monthly mortgage payments.
- Or, say you are welcoming a new member to your family and want to renovate your house, refinancing is the best option. Calculate your remortgages and start planning for welcoming a new member to your house!
- Suppose you are in another country rather than the U.K and looking to buy a house in London, congratulations! You can buy an apartment or a row house as a second home for your family!
- It is always nice to have a second home; just in case you ever get tired of living in the sample place, you may move into another.
- It is an excellent idea if you want to increase some additional space and tailor your house to business and work. Work From Home has given rise to many innovative and unique job opportunities for people.
- Online businesses and Entrepreneurs are operating online from remote places in the world, post COVID-19 Crisis. It demands a lot of space in your house you can use for your Office Work.
How do I know if it is the right time to move?
Do you want to relocate to a more upscale area? Are you planning to welcome a new person into your family soon? Is your family getting more crowded? If you are financially stable and ready for a change, it might be time to move. No matter what the reason is, you know it is time to move when the space is crowded and complex to move around.
If you are planning to move overseas and looking for some important information related to property buying and preparation, check the article by BankRate.
When to refinance mortgage?
When it comes to refinancing a mortgage, it may be difficult to know when the best time to do so is.
According to LendingTree, Refinancing gives you more exposure and helps you save your money.
Refinancing your mortgage allows you to get a new loan that pays off your existing mortgage and replaces it. To decrease your monthly mortgage payment, enhance overall loan conditions or get access to equity, refinancing may be the right option for you.
Are you worried about your affordability? Estimate your loan here.
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