With the coronavirus pandemic, you may be wondering: When should I sell my house now? It may or may not be the right decision for you.
If you want to know how to sell a house during the coronavirus, look no further.
Real estate is something that will never go away because everyone needs a home. However, many are worried about selling their homes during the pandemic because they don't think anyone will buy them. This isn't the case in most areas.
COVID-19 is affecting everyone differently, but the housing market is continuing to stay afloat. This means you can sell your home without losing out on money! "But when should I sell my house now if there's a pandemic?"
Keep on reading to learn everything you need to know about selling a house during the coronavirus.
How the Coronavirus Is Affecting Real Estate
Unfortunately, the coronavirus is affecting most businesses in several ways, both directly and indirectly. Most countries have taken measures to minimize the negative effects of COVID-19 by issuing mandatory quarantines. These quarantines have forced many businesses to close, causing the global economy to take a hit.
While these quarantines target unessential businesses, the real estate industry has also taken a hit. Real estate is considered an essential industry because people need to buy homes. However, with less money circulating, many people are more concerned about getting by with what they have rather than buying a new home.
Depending on where you are, you may have a difficult time selling your home, especially if you're in an area in which most people are in quarantine. If you happen to be in a big city, such as Los Angeles or New York, it will be easier because more people are still working like they were before the pandemic.
Is It Safe to Sell a Home During the Coronavirus?
Despite the many concerns that people have, selling a house during the coronavirus is safe. However, you must follow several procedures to ensure that you're doing what you can to prevent putting anyone at risk. Even if you don't think you have COVID-19, you should always practice social distancing.
Social distancing is something that many agencies have encouraged as it consists of keeping a distance of around 6 feet between you and others. Because of this, the number of people you can have at a showing should be much less than what you'd regularly have.
Instead of having 15-20 people come to look at a house, you shouldn't allow more than 5-10 depending on the size of it. You also shouldn't let anyone enter the house unless they've applied hand sanitizer and have removed their shoes. You can provide booties or bags for visitors to put over their shoes if they don't want to remove them.
Periodically, have your visitors wash their hands, especially if they're touching various parts of the house. While you should've cleaned the house before showing it, you'll prevent the spread of germs from other visitors.
Keep in mind that many people think showings aren't happening. This is why you must put a lot of focus on coming up with a good listing that will entice buyers.
Why Your Listing Is Important
Listing a home is often something that many sellers don't spend enough time on because they're focused on making the house look presentable. If you're working with a realtor, they can come up with a good listing. However, those that are selling a home by themselves will need to use several strategies to attract buyers.
When you start working on a listing, you'll want to make it clear that you're hosting showings (if applicable). It's best to mention that your house is empty because this will encourage people to visit. Most would rather look at an empty house than a house with people residing in it.
Your listing will consist of the same things that you'd do for any other home, but you need to put a focus on your house's cleanliness. Mention that you've done extensive cleaning to it to prevent anyone from getting nervous about visiting it.
Things to Expect When Selling
When selling a house during COVID-19, you expect several things that you otherwise wouldn't if there wasn't a pandemic. The most notable being that people will be hesitant about visiting the home and interacting with you.
This isn't something to get self-conscious about because practically everyone will be this way. However, those that show up will most likely have a lot of interest in the home, making it easier to sell it to them.
You should also expect visitors to wear masks and gloves while avoiding physical contact. You can't go for handshakes or anything of the sort. When it comes to signing paperwork or giving a tour, continue social distancing as best as your house allows.
Many homeowners think that selling a house right now will earn them less than what they could get if they waited. Although this is true in some areas, you'll have to research the prices of homes in your region. Many cities are seeing an increase in home values whereas others are dropping.
You can find out how to sell your house during the coronavirus pandemic and get the most out of it no matter where you live.
So When Should I Sell My House Now That There's a Pandemic?
The truth is that there isn't a specific time to sell your house. During times like this, your best bet is to sell whenever you feel the need to. If you can, research the market to figure out what the trends are. While you can sell your house regardless, it will be easier if there's a high demand for housing.
Providing that you make a proper listing and safety precautions, you can sell your home quickly while getting the money you want. After reading this, you no longer have to ask, "When should I sell my house now?"
Browse our articles to learn more about real estate and other topics!
Since coronavirus isn’t over yet, I can’t decide when to sell my house. I just had this property semi-furnished and ready for selling in March when the virus arrived. I like how honest you are with your piece that there no specific time to sell my house with this pandemic not yet over. With that, I’ll follow your tip to consider selling whenever I feel the need to.