Thursday, December 2, 2021
HomeNews RoomShould I sell a house during COVID-19?

Should I sell a house during COVID-19?

Uncertainties looming, economy stagnant, many would be pressed to sell off their property for a bit of cash on hand but is it wise?

The coronavirus has upended many of our lives in more ways than one. With businesses temporarily shutting down and people stuck in their homes, the virus has undoubtedly changed the way society works. The same goes for the real estate industry. However, is it the right time to sell your real estate in this period?

For many property professionals, it is an acknowledged fact that competition is low right now, which is the biggest advantage real estate sellers can have as many sellers are hitting a pause. Along with the masses being forced to stay indoors and find ways to preoccupied their time, there would be more eyes that will fall on your listing.

Nevertheless, keep in mind that although this period may have lesser competition, you may also have fewer buyers. The top priority of the public’s focus would be on their health and safety, so there would be less interest in property hunting at the moment. Viewing the home for sale would also be impossible with the restriction of movement and many would not want to risk their health.

With the uncertainty of the economy, it is also not guaranteed that buyers would be able to make their house payment in the future due to the possibility of jobs laid off. A wiser choice for many would be to wait it out and see where their finances are once the pandemic has passed. Even if you are a seller who has a vast pool of potential buyers with a virtual view of your real estate, your prospect for sales can be harm if you could not give off a great first impression online.

Should you still sell a home during this situation? Whether it’s the right time is highly dependent on you. If your situation is concerns about your finances, experiencing job loss and cut hours, or in good financial standing and must sell at this time.

Understanding your situation would be the key to increasing the chances of you having the best deal.

Check out our other articles!

Is Now the Right Time to Buy a Property?

With the current economy going into shambles due to the COVID-19 induced recession, many might feel holding off on their property purchase is the...

Henry Butcher Malaysia Perspective 2021 is out

Henry Butcher Malaysia has just announced the launch of their annual property market report, Henry Butcher (HB) Malaysia Perspective 2021. With reviews of the...

PUSPAKOM Aids Covid-19 Relief

Recently featured on Berita TV9, PUSPAKOM has introduced a new way to aid the fight against the global pandemic. Under the overseeing of Datuk...

What is RPGT?

Real Property Gains Tax (RPGT) is a tax quite common among the real estate industry. It is a tax that you get from disposal...

Can Company Culture affect your Business?

In many corporations, company culture is something nice to have, though not entirely a must-have. Thus, favoring perks to satisfy the masses. However, with...
- Advertisment -
spot_img