Is now the time to buy that single-family home you've wanted? While 2020 is volatile in many ways, it can be the perfect time to invest in your own home. Why? Here are a few of the most popular reasons.
1. Lower Population Density. Amid the worry over continued — and often rising — rates of COVID-19 infections in densely populated areas, moving farther away from your neighbors is appealing. A single-family homeowner can enter and exit their home and parking areas without coming into immediate contact with neighbors. They take walks in less populated neighborhoods. And they have a yard to enjoy safe play with family.
2. Less Reliance on Public Transit. When you live in an area filled with multi-family housing units and apartments, you are more likely to have to rely on public transportation options. Cities that make car ownership hard and parking a challenge are now discovering that crowded public transit can be a hazardous option. Areas with larger lots dedicated to single-family housing generally make it easier to travel using your own — safer and less exposed — means.
3. Better Work-From-Home Spaces. Have you, like many Americans, switched to doing more (or all) of your job from home? If so, you need a good home work environment. Apartments are subject to all the noise of dozens or more neighbors going about their days as well. And many apartments aren't large enough to provide a quiet, separated, and dedicated home office and videoconference location.
4. A Market With Great Deals. The real estate market, like much of the 2020 economy, is still reeling from all the changes happening. And that can mean better odds of finding the right home at the right price. Struggling economies generally lead to excess real estate inventory and lower interest rates on mortgages. While each local market is different, a savvy shopper can often find better properties for less.
5. Your Own Yard. One of the biggest appeals of a single-family home is a front and back yard all your own. And when most people are entertaining at home and spending more time hunkered down to avoid Covid-19, the more room you have to play — or just to get away from your family — the better.
Which of these reasons appeals to you in your current housing situation? No matter whether you want to escape from unnecessary anxiety or take advantage of economic conditions, this could be the year you make your single-family home dream a reality. Learn more about single-family homes for sale by speaking with a real estate agent in your area today.