Purchasing property in a pandemic?
Here’s what you need to know.
01 June 2020
With our lives in lockdown, even the most basic tasks have become challenging to navigate – let alone buying a house.
While some people may have opted to put their property plans on hold, current market conditions could be favourable to those buyers who have decided to go ahead.
So, if you’ve chosen to continue your buying journey, there are some important considerations to keep in mind.
Seek expert advice
First and foremost – talk to your broker. In uncertain times it’s crucial to have an expert on your side.
In the current environment, lending rules are changing rapidly and there’s greater scrutiny when assessing loans, so it’s important to have someone on your side who’s in the know.
Make sure you’re clear with your broker about your circumstances and be upfront about any changes to your employment or financial situation.
Do your research
With social distancing measures in place, many property inspections, valuations and auctions have moved online.
While these virtual solutions can simplify the buying process, it’s important not to skim over your due diligence when searching for the right property.
Building and pest inspections can still be conducted, and local councils are still available to check building permits, rate balances and utility connections.
Talk to a Liberty Adviser
In any crisis, it’s best to have a professional helping to guide the way. With expert knowledge on lenders and policy updates, an adviser can keep you informed and help you stay on track. Ready to get started on your house hunt? Contact a Liberty Adviser today.