8 Best Reasons to Buy Your Dream Home Amidst the Pandemic

When the COVID-19 outbreak began last year, most of us got bothered with different uncertainties.   Although some people lost their jobs, they also found alternatives to earn money and bring food to the table. In fact, the good news is that others have seized more income opportunities under the new normal. Some were even able to start a business and earn more while others got hired for a considerable stable work at home job.

Indeed, as I always claim from Hebrews 31:5, God promised that He will never leave, nor forsake us.

For those who are planning to invest in a property or planning to buy their dream home, is it a good time to do so amidst the pandemic?

I believe it is! Now is the best time to apply for a home loan either to buy or to construct your own home.  Why? Check every reason below:

SAFE AND SECURE HAVEN

These days, living in an overcrowded area is going to bring you more harm than good. You’ll most likely catch a virus upon interaction with people that could’ve been CoVid-19 carriers when renting an apartment or a condominium unit. Because of a lot of restrictions, you probably couldn’t get around and decide how to improve your living conditions. More so when you are sharing a home or a room with others. The risk is greater.

Home is where our safest haven and to ensure safety, purchasing one will be the best decision you could ever make amidst this pandemic.  If you’re living in your own property, you’re free to customize your home according to your needs, have your own fence and gate, and add other security measures you can think of.

 

PERMANENT AND CERTAIN OWNERSHIP

Compared with renting, having your own house is of course PERMANENTLY YOURS and more certain.   If, for any reason, your landlord decides to no longer rent out their property, you need to look for another.  With our current situation, it will be hard to roam around to scout for a new one.

For certain jobs that are not possible to do at home, the demand for their employees to rent/lease becomes higher too.  As a result, rental rates in some locations are now higher, particularly those that are close to the urban area.

As our hard-earned money becomes more valuable now, the more we must invest them wisely.  So rather than paying rental fees, I think that’s the best reason you have to buy or build your own now.

 

REDUCED CONTRACT PRICE AND SPECIAL PACKAGES 

Most businesses now prefer a sure buy over a zero sale.  At present, they need more sales to increase their cash flow and stay in the business.  Most developers now offer discounted contract prices on their properties.  They even pitch to add various packages i.e, bedroom package, appliance package, etc. upon home purchase.  Furthermore, built homes need occupants to maintain its solid foundation, otherwise the strength of the structure may deteriorate.

 

PROMO RATES FOR ECONOMIC STIMULUS 

Each country is now struggling for improved economic status.  Banks and other financing companies play a significant role in this regard by providing affordable home loan rates.  The Home Development Mutual Fund (HDMF) has been offering promotioinal rates since last year to help Filipinos acquire their own homes while helping to revitalize our economy.

 

LOWER DOWNPAYMENT AND RENT-TO-OWN SCHEMES

In addition to discounted deals, special packages, promotions, and affordable interest rates are also being offered.  Real estate developers place greater emphasis on low and affordable cash out as well as realistic rent-to-own schemes for aspiring property investors.

 

CONVENIENT PROCESSING

Under the new normal, almost everything is being done digitally. Online processing and submission of loan documents are now acceptable, thus making it faster, convenient, and lenient for loan applicants.

I also found an online mortgage calculator at https://www.mortgagecalculator.uk/ not only to help you compute your supposed monthly amortizations but to be able to check your capacity to apply for a home loan as well.

With this mortgage calculator, you can anticipate all the interests that you might acquire as it also has a breakdown of your future monthly/yearly capital & interest payments. You could even compare interest rates and calculate the mortgage you can afford according to your income.

 

GRACE PERIODS, PAYMENT MORATORIUMS AND REPAYMENT PLANS

Heeding to the “we heal as one”call, grace periods, payment moratoriums, and other payment/repayment plan programs are now available.  These plans and programs assist aspiring homeowners during these challenging times.  You can recompute the interest rates using the online calculator I found, particularly the easy- to-use mortgage calculator I referred  to earlier.

 

EXTRA SAVINGS FROM MATERIALS 

Since its pandemic, you’ll save more on all your construction/improvement needs as well as in home decors thanks to the ongoing promotional sale of materials from different shops.

 

I hope these reasons will help you realize now’s the best time to invest and pursue your dream house!