What Does COVID-19 Look Like for Home Buyers? Virtual Showings, Low-Interest Rates, & Much More
At the start of 2020, Texas entered its fifth consecutive year of record-breaking sales, and home builders were pulling out more permits than every other state. It was one of the most bustling markets in the country. And even though the new coronavirus’ effects on the spring housing market has caused a bit of a slowdown, homes are definitely still selling! Real estate in Fort Worth and Texas overall is considered an essential service, and buying a home during coronavirus is still a possibility. Here’s what you need to know about navigating the Texas real estate market in this difficult time.
New Types of Showings
Home showings are being forced into the future. Right now, there’s a huge uptick in virtual showings. You can watch a video walkthrough on many listings (and sometimes in 3D!) and your agent or the homeowner can walk you through on a video call through Skype or Zoom, or some other option. Open houses are being moved online as well, to become Facebook Live viewing parties.
Take advantage of preliminary showings as well. These are easy, no-contact solutions to seeing if you like the house. Just drive by to see what it looks like on the outside and to get an idea of the neighborhood. If you don’t like what you see, scratch it off your list.
Low-Interest Rates
Welcome to the world of low-interest mortgage rates. Now could be one of the best times to lock in a rate you’ll be happy with for the next 30 years. Ask your realtor what current rates are and if it’s worth it right now to take advantage of the slumped economy.
In-Person Health Measures
If you absolutely have to look at a home in person (and to be honest, you will—not many people want to move into a home sight-unseen), make sure to follow CDC and WHO guidelines for social distancing and safety. Wear a mask and gloves, and stay six feet away from other people in the house. The homeowner may be unable to leave, so keep that in mind.
Consider a no-touch showing. That means that you send your realtor in first to lay down floor coverings or put out booties, open all the doors and cabinets, and turn on all the lights. The goal is to eliminate the need to touch anything, so you can walk through with your hands in your pockets the whole time.
Remote Closings
As of March 26, 2020, Texas is now permanently able to do remote online notarizations. That means you can get all your paperwork digitally, sign everything digitally, and then have it notarized digitally. It’s important to note, though, that notaries in Texas need to obtain a special commission to do so—so make sure that happens before you cancel the in-person appointment.
Be Prepared for a Slower Process
Thanks to so many businesses being shut down right now, home sales are moving a bit slower than normal. Inspections are still done in person, and that person needs to be available. Repairs that need to get done may take longer than usual, but the good news is they’ll still get done!
Be prepared to sign an addendum noting that the COVID-19 outbreak could delay closings a bit. In the end, though, just be patient. A global pandemic can’t stop you from getting your dream house.
5 DIY Improvements to Make Your Home Classier
Updating your home to be more chic – without looking cheap – is completely doable on a budget.
If you’re looking to add more class to your home, taking on a DIY project can give your house that extra sense of style while saving you money. No need to cringe at those three little words: “do it yourself.” There really are fast, easy and affordable projects you can do on your own. Here are 5 DIY Improvements to Make Your Home Classier.
1. Replace Your Light Fixtures
Switching out an old or basic light fixture for a more elegant one is an easy way to shift the ambiance of a room. By adding a sophisticated light fixture, you can control the intensity of the light and character of your room. And you don’t need to pay a pretty penny for expensive new fixtures – you can buy used fixtures online.
2. Add Floating Shelves
Installing floating shelves in your home combines the functionality of extra storage space with a bit of style and personal flair. Floating shelves can be mounted on walls in many different patterns, and they come in various materials to give your rooms a unique touch. For a small room choose shallow shelves to display framed photos; for a larger room you can afford to use deeper shelves to hold vases, books and unique trinkets.
3. Paint an Accent Wall
Painting an accent wall can add a pop of color and showcase your personality. Usually a low-risk project, a homeowner of any skill level can tackle this project in a day. You just need some painter’s tape, a brush and the color that suits you! Just make sure the color you choose is complementary with the other colors in the room. Stay consistent between warm and cool tones.
4. Install Decorative Molding
Adding decorative molding around your home can add an extra touch of elegance. Install molding to the ceiling by capping walls, columns and cabinets, or add chair molding lower to the ground. With detailed molding you can add character to your rooms while also making them feel taller and more finished.
5. Build a Stone Fire Pit
Take your sophisticated style outside by building a stone fire pit in your backyard. Completed in only a few hours, take uniquely shaped rocks or large stones and put them together to create a functional and stylish fire pit. Before starting the project, be sure to check your local fire codes or homeowners association to ensure you are safe and allowed to start building.
Adding a touch of class to your home doesn’t have to break the bank! Just be sure to start with one project at a time, allowing yourself to complete one before starting the next. Otherwise, you’ll fall victim to chronic project incompleteness syndrome – not a good look!
Now that you know about these 5 DIY Improvements projects, which will you try?