COVID has been nothing short of being traumatic and stressful. However this post is not about the negatives.
Today I want to talk about how COVID has actually encourage more people to buy a home; something that they have been putting off for a while. I do have to except that one key influencer has been that majority of people had to work at home. As more and more people were forced to stay home during this pandemic, they realized that they now have the time to buy a home and put down roots. This is why we are talking about the 3 reasons why COVID is the best time to buy a home. Don't worry, I will also share tools to help you.
1. Home Can Be Both; Office Space And Personal Space.
First off, COVID has made people realize that they can set up office and personal area within the same home. While many people used to think that you need that huge square foot house to set up a home office and your personal space, this is actually not sure. This past year, social media has filled up with multiple examples of how people converted their studio apartments, big houses, or simply any space that they call 'home' into a functioning office as well as the perfect home. If you are still looking on how to get started on setting up your home office, read these amazing tips on balancesmb.com.
The only thing that I see which is stopping people from buying that home is the daunting task of calculating how much that dream home will actually cost? This is why I like to turn to reliable mortgage calculators like the one on the easy to use website Mortgage Calculators.info. This calculator gives you the option to plug in numbers and get a better idea on what amount of $$ you actually need to get sooner to your dream home.
2. You May Already Have $$ For Buying Your Home.
Secondly, COVID has made people realize that they can save the cost of commute and instead redirect cash towards their preferred space that they can call home. Even companies are encouraging more and more employees to work from home. In the big picture it is also cost-effective for companies do not have employees coming in. Don't believe me? Read this CNN article.
Now before you say how can that be true and do you really have that kind of money left over to put towards a mortgage payment, let me show you actual numbers.
When you start working from home, you start saving money on gas. Because you are not driving to office you can actually reach out to your insurance company for your auto insurance to reduce your premium. Plus no more parking cost, if there was before. Next lets talk about the time spent on getting ready and reaching your work. You can instead focus on other money-making tasks in those one or two hours. Before, you would have spent that time being unpaid driving towards your work. Again these numbers can actually be put into a calculator like this one to really understand how you can make money work for you and how you can redirect the money toward home with your dreams. A trusted website to browse for advice is NerdWallet.
3. You Better Understand Your Life Purpose.
Thirdly, this pandemic has indeed given each one of us a better understanding on what things really matter. Unlike our ancestors of the industrial age, we seek meaningful relationships and memorable instances. The current generation is no more chasing after a title or the corner office. Instead we want to have the freedom to work Where we want to work, and When we went work. We also want the flexibility to travel the world and explore this beautiful earth. All of this can become a part of your planning to buy a home. How? Because you will be taking a deeper at your financials and accordingly planning out your future. In a way, making the plan to buy a home will also give you a game plan for your other goals.
Lastly with interest raise rates all-time low, anyone who was waiting to buy a home is now getting into the buyers market. Even trusted name like Bloomberg talk about this. Make your decision simpler by having the correct numbers in front of you by using calculators like the one available on Mortgage Calculator Inc and get started.
Tell me if you have bought a house during this pandemic and if any of the above reasons influenced you?
If this post interested you, you may also like to read my post on 'Learn How To Buy A Car'.
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