Buying a house without seeing it first may not seem like something that happens a lot, but the current housing market calls for creative buying solutions. Going in sight unseen has become a more popular way to obtain real estate in a highly competitive market. Sometimes, if you want the house, you'll need to pounce on the opportunity when you get the chance. But this strategy requires a certain level of knowledge and understanding of how to buy a house. Let's dive in!
Should I buy a house without seeing it first?
Buying online or remotely is more popular than ever. For example, Nerida Conisbee, Ray White's Chief Economist, reports that "In Melbourne alone where it wasn't even possible to inspect a home for sale during the lockdown, Ray White sold nearly 400 properties over a four-week time period where no one had inspected the property."
It's important to understand that "buying a house sight unseen" means something different than it did 20 years ago. These days, there is technology available that makes it far easier to see the location and understand what kind of structure you are dealing with. In addition, the right real estate company should be able to guide you through the process reliably. Your agent should understand what you want, what you can afford and what your deal-breakers are. Having a good team on your side can make all the difference in the long run.
You might not be there in person, but you can make decisions like you're standing right in the driveway. The use of technology is extremely important in this case. Tools like high-quality images, live video walk-throughs and satellite pictures of the neighborhood are valuable. Your real estate agent can make sure you have access to these things, and advise you based on what they know.
Inspections are a must
It is recommended that inspections are performed on real estate before you buy it, regardless of how you buy it. However, it's especially important if you're unable to see the property in person before making an offer. Ask for a building inspection and a pest inspection to ensure that you have all the necessary information.
- Research everything
- While it's a good idea to go into a purchasing decision with all the information available, it's even more important in this situation. Here are some examples of things that you should look into:
- The crime rate of the neighborhood.
- Quality of surrounding schools.
- Opinions of neighbors and people familiar with the area.
Arm yourself with data and information to the best of your ability, and you can be sure that you're confident in your decision.
The best thing you can do to prepare yourself for the potential of buying a house sight unseen is to have a good relationship with your real estate agent. Are you ready to work with the reliable people at Ray White Surfers Paradise? Get in contact today!