The Best Real Estate Advice of 2020: How the Pandemic Transformed Housing This Year

Sisoje/Getty Images; Julie Migliacci; erhui1979/Getty Images; photoman/Getty Images

In some ways, buying a home got a lot easier in 2020, and in a lot of ways, it didn’t. Welcome to the mixed-up, unpredictable, unprecedented pandemic world we’ve all been living through. It’s truly been a year like no other. But no matter which way the pendulum was swinging, realtor.com was here to help you make the best of it.

Whether you were a first-time home buyer house hunting during the pandemic or a seller wondering how to get the best price for your property, we brought expert-approved insights to you all year long.

We’re (finally) just a couple of weeks away from 2021, but to help you head into the new year as a well-informed home buyer, seller, or owner, we thought we’d reflect on the top lessons we learned about real estate this year.

Take a look back at our best real estate advice of 2020, and click each headline to dive deeper into the topics that were top of mind for all of us.

Should I Buy a House During the Coronavirus Crisis? An Essential Guide

Is it safe—and smart—to buy a house during the coronavirus crisis?

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As if deciding whether or not it’s time to purchase a home isn’t a tough enough decision, the coronavirus pandemic made everything even more shaky.

Many potential home buyers have been wondering if it’s even safe to shop for a home during a pandemic, and that’s a very fair question. And even if you do succeed in finding a home you like, is this the right time to pull the trigger?

Here’s what our top finance experts had to say about whether now is the time to buy.

Can’t miss tip: Mortgage rates reached historic lows in 2020, but experts believe they’ll rise quickly in 2021. Now may be a good time to buy if you want to lock in those low interest rates.

6 Home Upgrades Buyers Want in the COVID-19 Era

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It’s no secret to sellers that refreshing the inside and outside of your home is a great way to bring in potential buyers—and multiple offers. But in 2020, the world became a different place, and stay-at-home orders, plus the closures of schools, restaurants, and gyms, made us look at homes much differently.

Knowing they’d be spending much more time at home (working, schooling, exercising, and just about everything else that used to be done elsewhere), buyers started prioritizing features they might have overlooked in the past.

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Watch: Talking About the Top Real Estate Markets for 2021

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Find out what new upgrades buyers are seeking in the COVID-19 era—and what formerly hot upgrades are now so 2019.

Can’t miss tip: Home buyers in 2020 and beyond are looking for a place where a lot can happen—and maybe all at once. This means the once-desired open floor plan is now a turnoff, and separation of space is where it’s at.

Is It Safe To House Hunt During the Coronavirus Crisis? This Is What You Must Know

Is it safe to house hunt during the COVID-19 pandemic?

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Safety is still top of mind for most active home buyers and sellers.

While the majority of real estate agents are doing everything they can to lessen the risk for their clients, there are still some home buyers who just don’t feel comfortable taking on the process in-person.

Read along as we explain every part of the process that can now be done remotely, and how to make sure it works for you.

Can’t miss tip: A good home-buying experience always starts with choosing the right real estate agent, and it was never more true than in 2020. If you’re looking for a virtual home-buying experience, it’s important to connect with a real estate agent who knows exactly how to make it work to your advantage.

It Just Makes Cents! 7 DIY Home Improvement Projects That Promise Serious ROI

Help improve your chances of making a real estate profit by taking on one of these DIY projects.

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If you found yourself with a little extra time on your hands this year, you may have decided to take on a few DIY home improvement projects. Because you were at home already!

It makes sense, then, that you’d wonder which ones would give you the biggest return on investment—the home projects that will earn you more money when you decide to sell. No one wants to waste their time on fruitless labor, so check out which DIY projects tend to promise the biggest payoff.

Can’t miss tip: It’s not always those giant projects that yield the biggest profit. One expert says bells and whistles don’t always pay off, and instead recommends homeowners take on several, smaller projects for a better ROI.

5 Bad Omens That Could Curse Your Home—and Jeopardize Your Sale

Are you feeling superstitious? These bad omens could hurt the sale of your home.

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If you’re trying to sell your home, it’s important you take everything into consideration—and we mean everything.

It doesn’t matter if you believe in omens or not. There are a lot of potential home buyers who do, which means seeing a bad token could be a complete deal breaker, no matter how much they love your home.

Click through to find out what some of the more common bad omens are, so you can get to work clearing them out of your space.

Can’t miss tip: Those adorable rocking chairs on your front porch might seem like a warm welcome to you, but if the wind blows and they rock, it may send some home shoppers running. Thankfully, there’s something you can do to keep it from happening, without moving your chairs to the garage.

First-Time Home Buyer Confessions: ‘How We Beat 32 Offers and Got the House’

Here’s how one couple beat out 32 other buyers—without offering the most money.

Julie Migliacci

Every home buyer’s worst nightmare is finding a dream house and having to battle other buyers for it. But what if there were 32 other buyers?

That’s exactly what happened to these buyers, and they came out victorious—even without placing the highest bid. Keep reading to find out exactly how they made it happen.

Can’t miss tip: Today’s real estate market is very fast-moving in many areas, which means there’s very little time (if any) between viewing a house you love and placing an offer. Study up on the neighborhoods you’re shopping in, so you’re ready to make an informed decision on the spot.

5 Coronavirus Real Estate Myths Everyone Thinks Are True—Debunked

coronavirus real estate myths
Don’t believe everything you hear—including these coronavirus real estate myths.

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It’s true that COVID-19 has turned the real estate market on its head, but that doesn’t mean you should believe everything you hear. In fact, falling for some of the real estate myths may cause a potential home buyer or seller to miss out on a golden opportunity. Read on to find out what’s being said, and what’s actually factual.

Can’t miss tip: You may have heard that home prices are plummeting because of COVID-19, meaning it’s not a good time to list your house. In actuality, the opposite is true thanks to low interest rates.

5 Weird Reality Checks You’ll Get If You Buy a Country Home

buying a home in the country
Buying a home in the country is not always as peaceful as you might think.

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Due to the pandemic, this year found many city dwellers moving out of the city into quieter, less populated areas. That means sprawling yards, quiet neighbors, dark nights, and lots of peace, right? Truth be told, country life isn’t always idyllic. In fact, it has some strange quirks that you may not expect.

Find out what happened when one city dweller bought a rural home and discovered that even in the country, things can get weird.

Can’t miss tip: Country living is all about co-existing with woodland critters, so if you move out of the city, be prepared to share your space—both inside and out—with deer, mice, and other wildlife.

The post The Best Real Estate Advice of 2020: How the Pandemic Transformed Housing This Year appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com

9 Things I Wish I Had Known About Owning My First Home (Before I Bought It)

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Years before I ever dreamed of homeownership for myself, I was an HGTV connoisseur. In college, I double majored in “Property Virgins” and “House Hunters” and spent hours glued to the TV with my roommate, ogling other people’s granite countertops.

Fast forward nearly a decade, and the time had arrived for me to purchase my own home. (No granite countertops here—my house was more like the “before” scene in an episode of “Fixer Upper”).

Not surprisingly, TV homeownership didn’t prepare me for the real thing. There are lots of lessons I’ve had to learn the hard way.

If you’re gearing up for your own journey into homeownership, turn off the TV and gather ’round. I’ll fill you in on a few things I wish I had known beforehand, and a few surprises (some happy, some frustrating) that I encountered along the way.

1. A beautiful yard takes work

That lawn’s not going ti cut itself

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I never met a succulent that I didn’t kill. Even my fake plants are looking a little wilted right now. But even though I don’t have a green thumb, landscaping and yard maintenance are forever on my to-do list.

Each spring, I spray Roundup with impunity, attempting (and failing) to conquer the weeds. My husband handles mowing and edging.

I’ve slowly started to learn which plants can endure abuse, neglect, and a volatile Midwestern climate. I still have a long way to go in my landscaping journey, but all this work has given me a new appreciation for other people’s lush, beautiful lawns.

When you’re house hunting, keep in mind that those beautiful lawns you see—and that outdoor space you covet—come at a steep price. Either your time and frustration, or a hefty bill for professional landscapers, will be necessary to keep things presentable.

2. You might get a bill for neighborhood improvements

Your property taxes should pay for every improvement to the neighborhood, right? Not necessarily.

When my neighbors came together to petition the city for a speed bump on our busy street, the cost was passed on to us homeowners. It wasn’t covered by property taxes, so we got a bill in the mail a few months later. Surprise!

When you’re preparing to buy a house, make sure you budget for homeownership expenses—not just repair and HOA costs, but those pesky fees that crop up when you least expect them.

3. Brush/trash removal? It works differently in every city

You might not be able to just leave your leaves on the curb…

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As a kid, I spent many fall weekends scooping leaves into yard waste bags that we left on the curb for pickup. But when I became a homeowner, I realized that my early brush with brush removal was unique to the suburb where I grew up. Every city handles it differently, if the city handles it at all.

In Milwaukee, where I live, homeowners can put leaves on the curb for pickup on designated days. For big branches, you need to request a pickup, or potentially dispose of them yourself. Check with your city to find the ordinances and regulations where you live.

4. You’ll want to clean (or hire someone to clean) your nasty windows

Window maintenance was never on my radar as a renter, probably because I never had more than a few windows in an apartment. But then I became the proud owner of many, many windows—and all of them were coated in a thick film of gunk after years of neglect.

After we moved in, I started to tackle the cleaning on my own. But I quickly realized I was getting nowhere fast, and there was no way I could safely clean the exterior windows up in the finished attic.

So, I swallowed my pride and hired window washers. It was some of the best money I’ve ever spent.

5. You may feel a sudden urge to stock up on seasonal decorations

I never looked twice at a $50 wreath or decorative gourd before becoming a homeowner. Now, I have a burgeoning collection of lawn ornaments in the shape of snowmen and spooky cats. Sometimes I don’t even know who I am anymore.

6. You’ll need to create a budget for Halloween candy

Stock up…

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At least I did in my Halloween-loving neighborhood, where the trick-or-treaters come out in droves.

I spent upward of $100 on candy my first year as a homeowner, and most of it was purchased in a panic at the Dollar Store after I noticed that our supply was dangerously low just halfway through the evening.

Now, I stock up in advance and shop with coupons to save a few bucks.

7. DIY renovation is equally rewarding and soul-crushing

Maybe just call someone next time…

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For the first few months after we closed on our house, my husband and I spent every free hour after work and on the weekends ripping out carpeting, pulling nails one by one from the hardwood floors, and scrubbing away at generations’ worth of grime in the bathrooms and kitchen. It was some seriously sick stuff.

Being frugal and ambitious means we can accomplish a lot on a small budget. But acting as our own general contractors became a full-time job on top of both of our full-time jobs.

Simple pleasures like “having a social life” or “Friday night with Netflix” became distant memories. It’s easy now to say it was all worth it, but at the time, I daydreamed about winning the lottery and hiring a team of pros to handle our rehab.

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Watch: Here’s How Low You Can Go in Making an Offer on a Home

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8. My impulse to check real estate listings lingered for a while

When I started house hunting, I obsessively searched for new home listings every day, poring over MLS descriptions and swiping through photos. Reaching for my phone to refresh the realtor.com app became muscle memory.

But after we closed on our house, my impulse to follow the market didn’t disappear overnight. Even though I was a homeowner, I also had a phantom limb where “checking the real estate listings” used to be.

A friend of mine put it best when she wrote about the sensation of loss she experienced when she “no longer had an excuse to occupy [her] free time with these real estate apps.” It’s surprisingly challenging to turn off your home-buying brain after months of being on high alert.

9. You’ll never want to go back to sharing walls

I like my neighbors. I like them even more because, for the most part, I can’t hear them. Gone are the days of people above me making bowling sounds late at night.

Now, I enjoy the sweet, sweet silence of detached living—no adjacent neighbors blasting music or loudly quarreling. All the yard work in the world is worth it for this level of quiet.

The post 9 Things I Wish I Had Known About Owning My First Home (Before I Bought It) appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com