The coronavirus is affecting nearly every aspect of our life. School, workplace, and other gathering places are closed. Summer activities and trips were cancelled. Most people are now working from home. 

The process of buying a house has changed drastically over the last few months. If you’re considering buying a house despite the pandemic, you probably have a lot of questions about the home buying process. 

Here are some tips to help you navigate the new real estate normal. 

Showings go virtual 

Gone are the days when you just hop in your realtor’s car and drive from showing to showing. Today, many companies have canceled open houses and tours to prevent the spread of the virus. 

The buying experience has gone completely virtual. The good news is that, you don’t have to rely on the photos on the online listings. You can live chat with a real estate agent and ask for videos and virtual tours. 

Mortgage interest rates are historically low 

While most people are hesitant to buy a house right now due to health and economic concerns. There are certainly some advantages of buying a house during the pandemic. For one, the mortgage rates are historically low. That means, you can expect a lower monthly housing payments too. 

Higher credit score requirements 

Lenders are less willing to take a risk. As part of the many changes made to reduce their risk in light of the economic downturn, lenders raised their credit score requirements. 

Wells Fargo, for instance, increased the minimum credit score for new applicants for its home equity loans to 720. 

The process may take longer than usual

As mentioned above, lenders are stricter now more than ever. If you apply for a mortgage, you are likely to face more scrutiny. In addition, there has been an influx of refinancing applications due to the low interest rates. 

If you are hoping to move into your new home by a certain date, it is best to start the process as early as possible. You could end up waiting around if you don’t get a jump start. 

Buying a home is a big decision that should be given a lot of thought. A lot of people are thinking about buying a house, but even those people who can afford it and have a good credit score are still hesitant to take the leap.

If you wish to buy a Colorado home but aren’t quite sure if it’s the right move right now, these questions will help you reach the right decision.

Can you afford it?

Aside from your ability to cover mortgage payments on a monthly basis, there are still a lot of expenses you have to consider when contemplating whether or not you can afford to buy a Denver home. Mortgage payments and other fees will most likely take 20-30% of your monthly income. Are you comfortable spending that much of your income to buy a home?

Is your income dependable?

Buying a property involves a long-term commitment. You may be able to afford a Colorado home on your current income, but are you confident that you’ll still be able to afford it in a few years time?

You might want to put off buying a home unless you have a strong sense of certainty about your financial future or are established in your line of work.

Do you plan to stay put?

Most first-time homebuyers do not consider whether or not they’ll be staying permanently when they buy the house. But buying a Denver home wouldn’t make sense unless you are planning to stay there for at least 7 years. Most of the time, it takes this long to recover from all the costs of buying a home.

If you’re not planning on spending the rest of your life in the same house, then you should consider the resale value of the house.

Will you be able to maintain the house?

When you buy a house, the responsibility of maintaining the house comes with it. The hardwood floors you fell in love with are going to need basic maintenance. That floor to ceiling windows need to be washed on a regular basis. The backyard needs to be mowed and the list goes on.

If you are a busy person, it might be extremely difficult to look after those things. So, before you decide if it’s the right house for you, you also have to consider the maintenance.

According to studies, 90% of home buyers begin the process of searching for a home online. If you want to sell your house quickly, then you need to put some thoughts into your online listing. 

In today’s competitive market, you need your listing to standout. Anything that can spark a buyer’s imagination can ignite a sale.

Here are some real estate listing tips that will get your property noticed. Use these tips to give potential buyers a reason to fall in love with your home.

Take good quality photos 

As mentioned above, home buyers start looking for homes online. Listings without pictures are often passed up. If you want to get your listing noticed, make sure that you take good quality photos and showcase the best aspects of your home. The goal is to make a good first impression among potential buyers. Listing photos provides the perfect opportunity to make a great first impression.

Today’s smart phones take decent photos. But if you want to sell your house fast, it is best to use a DSLR. Listing photos attract a lot of attention.  

Write compelling listing description 

Your words can be extremely powerful when it comes to selling a house. Write real estate descriptions that will get their attention. 

Describe the property in an inspiring and compelling way. Talk about the primary features of the property such as location, size of the property, number of bedrooms, number of bathrooms, and any recent updates or renovations.

Share your listing on social media 

Living in the digital age, social media is now a part of our daily lives. Millions of people from all over the world use log in to their social media accounts on a daily basis. If you want to reach more people, we recommend that you share your listing on social media.

By simply posting on Facebook and asking for leads on who might be interested can be an effective way of finding that elusive client.

Create a virtual tour

Living a fast paced life, people are always busy. They want to make sure that the property they are eyeing on meets their expectations before visiting in person. With social distancing guidelines in place, virtual tours make it easier for you to show your home to potential buyers.

Creating a virtual tour allows potential buyers to see all aspects of your home. It gives them an accurate, comprehensive preview of the property. 

The home inspection is a great opportunity for homebuyers to find out if there is something wrong with the house before committing to buy.  This is your chance to review any issues and learn as much as you can about the property, including the kind of problems it may cause down the road. 

Here are 4 questions that can help you decode the result of the home inspection. With these questions, you can clarify a lot of confusion on the actual condition of the property and  figure out what you can do to navigate the home buying process. 

Are there potential issues with the foundation? 

The foundation is one of the most important things you should look out for. Some of the worse problems you can face are in the foundation – floors that sag, windows that stick, cracks in exterior walls etc. These problems will cost you a lot of money. That said, you want to make sure that the foundation is solid and not cracked in any way. 

Can you point out potential problems to me?

Take part of the home inspection and have him point out things that require repair, maintenance and further inspection. This is important as it will help you identify what he is referring in the inspection report. It can be quite frustrating to go through the report and have no clue whatsoever about the things written there.

What should I repair first? 

No house is perfect. Home inspectors even find problems in newly-built homes. The question is, which one should you tackle first and which one can be fixed later. 

Simple problems like a leaking faucet is not something you should ignore as it could lead to a bigger, more costly problem to address later on. Make sure that you take note of the problems that should be taken care of once you move into the house. 

Who should I call to fix that?

This is an important question to ask since it addresses 2 things. First, your home inspector can give you referrals to roofers, electricians or plumbers, making it easier for you to book an appointment with them. Second, some inspectors will just give you a list of things you need so you can do the repair yourself. If you’re not comfortable handling repairs on your own, you can always hire a handyman to do these small fixes.

Final thoughts

Home inspectors will not tell you whether or not you should buy the house. It’s your future home, so it’s your decision to make. Take a good look at the inspection report to see if the problems they pointed out are deal breakers for you. Make sure you’re comfortable with your end of the bargain before signing any documents. 

Since home inspection isn’t mandatory in some parts of the country, some buyers skip it in an attempt to save money and streamline the buying process. But it makes no sense to put a huge sum of money on what will likely be the biggest purchase of your life without even knowing what you’re getting into. 

Thinking of skipping the home inspection? Think again. 

You have a new place to live in and you’re ready to settle in. Walking into your new house can be exciting, but it can also feel cold and unfamiliar. Finding ways to make it cozy and comfortable is quite a task. As if the challenge of redecorating the entire house isn’t hard enough, you also have to deal with the chaos of moving boxes and crazy kids.

In this blog post, we reveal a few things you can do to appreciate your new space and make it feel like home.

In the real estate business, curb appeal is a reflection of how the owner takes care of his/her home. A clean exterior, well-maintained shrubbery, and a neatly manicured lawn are ideal, especially if you’re selling your home.

The idea behind curb appeal is to make your Colorado home look attractive to anyone viewing it from the curb or street. Some sellers, however, are so busy staging the interiors of their Colorado house that they sometimes forget to make the exterior presentable. This is a big mistake.

Radon is a toxic gas that can be found in any house, old or new. It can enter your Colorado home through leaks in your foundation or porous building materials. Unfortunately, radon cannot be seen or smelled. Because of this, most homeowners aren’t even aware of the presence of radon in their home. 

Testing is the only way to know your level of exposure. This is why the U.S. Environmental Protection Agency recommends that all homes be tested.

It's not peak selling season, but these smart strategies will help you make sure your Colorado home looks good even when the weather is dreary. Here are a few tips to help you sell your home this season.

Crank up the heat

Cold Colorado houses don't sell. If potential buyers shiver at your open house, they aren't likely to stick around, let alone make an offer. This isn't the time to save on the heating bill. Keep the thermometer at least at a steady 70 degrees. A cold house sends the wrong message. It doesn't need to be hot; it needs to be not cold.

Get shoveling

Don't let a little snow come between you and the next owner of your house. Get shoveling, and make sure the walkway is clear. If someone has to slip and slide their way into your house, you'll lose the battle before they cross the front door.

Moreover, if you want buyers to attend your open house, make sure they have a place to park. This task can be challenging as snowbanks and drifts accumulate. Don't clear just the driveway -- shovel out some spaces on the street as well. While you are at it, make sure you don't wind up with big piles of dirty snow near the front door. If they are concerned about breaking a leg, then they are not paying attention to your house in a good way.

Decorate, but don't go overboard

Some Realtors suggest stripping a house of all holiday decorations to avoid turning off potential buyers. But that sends the wrong message. After all, buyers are trying to get a feel for whether your house could become their next Colorado home. If your house is cold, empty and sterile, that sends the wrong message.

This is not the time to go nuts with plastic lawn ornaments. It might be the season to stow Santa and his reindeer out of sight in your cellar. Better to focus on some lighter, classier touches, such as wrapping a garland around the banister on the stairs or putting up a wreath. It really makes the entryway pop.

Become a weather freak, and stay flexible

One thing you can't control during the winter is the weather. It's time to start tuning into The Weather Channel, at least while you're trying to sell your house. When planning an open house, it's better to be prepared for weather changes. If a big storm is headed your way, maybe it's a good idea to reschedule for a new day or push a morning open house into the afternoon. Even if you can lure a few buyers out in the storm, a dark and dreary day is probably not the best backdrop for showing off your house.

Getting the right price for your home is the first and most important step in the sale process. You want to make sure that your house isn’t priced too high that you can’t make a sale and that it’s not priced too low that you don’t regret the sale. 

All too frequently, seller’s opinions of their Colorado house are clouded by their emotions.  It’s easy to think that your home is worth more than your neighbor’s, especially if you’ve lived in that house for several years. After all, you’ve made some improvements through the years and your Coloardo home has been special to you and your family. It may be one of your most prized possessions, but what your home means to you must come to terms with what the real estate market dictates.

Some sellers would list their home higher than what their real estate agent has advised. Some do this in the hopes of getting more money out of their property. Others think that they can always lower the price later on.  This is not a good strategy. Your real estate agent has already provided you with information that can help you see the bigger picture. Listen to his/her advice.

Home buyers will not waste their time looking at and negotiating on a Colorado home they know is overpriced. There are a lot of properties on the market. They’ll just move on to the next property until they find something that matches their needs and budget.

You can avoid the pressure and disappointment of your property sitting on the market and seeing no activity after a few months if only you priced it correctly in the first place. Eventually, you’ll decide to reduce the price in order to compete with the listings that are actually in your price range. But since your home has been sitting in the market for a while, buyers may not give it much attention.

An overpriced Colorado home is not going to sell. It doesn’t matter how many sites your home is listed or how many glossy fliers you’ve handed out. You need to put the right price tag in order to get that buzz going around your home.

As the owner, you are free to ask for any price on your home. But if it’s priced too high, don’t expect it to sell any time soon.