The factors to consider when deciding if you should stay or go when it comes to buying or selling your home during a pandemic.
Who among us could have forecast a pandemic in 2020 and what this would look like for the Delaware real estate market? Not even the best crystal ball on the shelf could have seen this one coming. As we meet with clients, the conversations often include these questions:
- Should people make a move now?
- Is now a good time to make such big decisions?
- Should I sell my home in New Jersey, New York, Connecticut, etc. and make the move to Delaware… or wherever you’ve been planning to move?
- Should I accept the buyout or forced early retirement?
Weighing Your Home Options
We understand. Making the decision to stay or the decision to go right now feels stressful. It may come with feelings of overwhelm, depression, and possibly excitement about what’s next. I have to tell you, the number of phone calls we’ve been getting from the City, from the Island, from North Jersey, from all parts of the Mid-Atlantic and North Eastern states are overwhelming.
We can group our clients into three main groups:
- No Reason to Wait: These are the people who have decided they were always planning to relocate so they are using this pandemic to rethink their timing. Perhaps they are now able to work remotely and this means they can move now, not wait for retirement. They realize they don’t have to wait for specific circumstances which prior to pandemic may have been years in the making.
- Let’s Move Now: They were forced to retire early, so why not move now.
- Let’s Slowdown: The pandemic has caused them to put everything on hold—they are feeling nothing but PANIC.
The younger our client, the more likely they have accelerated plans and are buying homes in Delaware now. If they do not need to sell to buy, the home here makes a great vacation home. Getting their home now ensures they will make friends and get to know the area before retirement—this is a huge bonus.
Consider These Factors for Buying & Selling
These factors will help you sell and help you buy more house for a lower payment if you act now.
- If you’ve decided not to stay where you now live then sell.
- Homes are selling quickly and inventory is very low, not just in Delaware.
- Housing prices continue to rise, but so does the housing demand.
- And, interest rates are the lowest ever.
As always, we are here to help you with these big decisions in this uncertain time. Give us a call. Be sure to download our free Relocation Guide. It’s filled with loads of information to help you and welcome you to living in Delaware. If you’re thinking of listing your home don’t delay in using our free Home Evaluation resource.