Please remember that this crisis is only temporary and your personal situation and the economy will recover and improve in the future!
Covid-19 has presented both opportunities and risks of purchasing a home or investment property at this time. The fundamentals of property have remained unchanged as a result of this crisis. They are likely to remain the same even after Covid-19. There have been some positives presented by this situation;
- Interest rates are at an all time low and may remain low for some time.
- While the share market is very volatile, the property market is likely to remain stable during this time.
- It is expected that people will hold onto their homes and investment properties during this time.
It is important however, to consider the risks of purchasing a home or investment property at this time too.
- Ensuring income security and stability.
- There is a risk that the lender may withdraw your approval if your financial circumstances change.
If you are considering purchasing a property during this time, please get in touch with us to discuss your own personal circumstances.
Regardless of your situation, we are here to help you. Let’s work together to create a plan to help you and your family through this challenging time!
Learning about other topics such as fine-tuning your house price negotiation skills can also come in handy.
Get in touch with us if you want to know more about the property market and economy during this time.
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