Should I Still Buy a House During the Coronavirus Pandemic in Dallas Fort Worth?

The Coronavirus turned everyone’s world upside down. The stock market experienced significant drops, most of the small businesses are taking hits, and jobs in any industry are becoming unstable. No one knows what will happen in the next few months, but for sure, the impact of the pandemic would be extensive. As a homeowner yourself, you might be wondering that given the shifts in real estate prices and your own source of income, should you buy a house at this crucial time?

Contrary to a lot of opinions, now is still a good time to buy your dream home. A trusted realtor should be able to tell you that not every real estate deal is a good one, but if you just have the right amount of patience and courage to make a decision, you might be making one of the best purchases of your life, even during the Coronavirus pandemic. Below are a few benefits you can look forward to.

Better Deals

While the Coronavirus is still around, people would alter their plans because they fear contacting the virus. Therefore, it may result in more sellers willing to adjust their market price to get any deal they want. You don’t have to wait any longer, act fast because once the virus is gone it is certain that things would go back to normal quickly.

Less competition

While it’s scary to go outside, many agents and sellers also cancelled face-to-face meetings and open house tours for the public. However, there are a bunch of virtual tours on the internet and you can always video call the person responsible for this. Don’t be scared to buy a house during a pandemic since it is also an investment for your future. 

While you have more free time in your hands, look up and research about the potential houses, areas, and locations you might want to live in.

Mortgage rates are even more affordable

It is a great time to buy a house now especially since the mortgage rates hit another all time low. Rates remained low for weeks now-- the 15-year fixed mortgage dropped eight basis points to an average of 2.62%. You’ll be able to save more in the long run if you buy a house now. Imagine, if you wait to buy your new home, the interest would go up and you’ll be paying for more.

For more information on buying and selling a house during the Coronavirus pandemic, you can contact Cindy Coggins Realty Group, a highly credible Keller Williams authorized realtor in the Dallas/Fort Worth, Texas area. Cindy is still open for business even at this time and would be more than happy to help you find the best housing deal in the market.