When You Would Consider Buying A House
In this time of pandemic, is it a good time to invest in buying a house or condominium? Covid -19 Pandemic hits not only the economy and everyone’s life really hard especially at the time when the country was placed under lock downs or community quarantine orders. Travel and Other Activities are not allowed, movements were restricted, many establishments and businesses were closed, some workforce stoppage that leads to permanent closure of businesses.
With the uncertainty right now, should we put hold on getting our dream house or condominium? As we don’t know how long this pandemic will come to an end, we need to continue living. As the economy slowly getting back on track, as well as everyone’s lives trying to adapt with the new normal. Pursuing on buying that house or condo you like can be done but there are some things to consider first.
Here are some of the advantages in investing real estate during pandemic:
- Low Interest Rate
- Discounted Prices
- Flexible Payment Scheme
These advantages may be enticing but its better to be more cautious and ponder more before buying, taking consideration of your financial stability. But if you have a steady job and income that can sustain to make your dream into reality. why not, right?
Having a stable job and a good income can get you a mortgage. But you have to take on account your general financial health. You don’t want to end up having too much debts, right? Try estimating your mortgage affordability based on income.it can be a help being aware of your debt so you can plan ahead and budget.
Making your dream house into reality is really up to you and your personal priorities. There’s no perfect time to start but realize and take into account your overall financial portfolio looks like before making that big decision.