The 2020 coronavirus pandemic has already had far-ranging consequences, and the chances are that we’ve only seen the beginning of its fallout in a business sense. There will be plenty to unpick going forward, and for homeowners looking to make a move, one question has to be: do you wait until things have returned to normal, or is it possible to sell a house during a pandemic?
One thing to say right away, is that of course it is possible to sell a house while a pandemic is ongoing. Whether it is advisable is another thing, and that’s what we’ll try to find out as we look deeper into the pros and cons of selling during this time. If you do decide that selling up and moving on is something that would interest you, then the information below will hopefully help you make a few decisions on how to go about it.
Can You Do a “Virtual Viewing”?
Given the “walkthrough” nature of the typical house viewing, it’s a lot harder to maintain sensible social distancing than would be ideal. This can present a problem if you want to sell your house by conventional means, because an interested party can take more than one viewing to make a decision; multiply that by a lot of interested parties, and there’s a big issue. It’s close to impossible to keep distancing, fully sanitize a house and give a proper viewing. Some realtors are now taking the opportunity to perform “virtual viewings”, which can be posted to YouTube or even streamed live.
An initial viewing of this kind can feel gimmicky, and like it doesn’t get to the heart of the property. However, on the flip side, follow-up viewings can be much more targeted and dynamic; your potential buyer doesn’t need to commute to a viewing just to see if they like the kitchen splashback as much as they thought they did.
Is There a Demand for Houses Right Now?
Surprisingly, the demand for housing remains strong for the moment, although it is expected that the economic conditions will eventually make selling tougher. It’s not impossible to sell in a slow market with the right technique, and you can read more about it to get a better idea. Consider the fact that, as a seller, you won’t need to do a lot of the legwork like holding an open house or funding expensive staging processes; any skilful realtor will be able to spin the current climate to your advantage.
Can You Expect the Best Price Right Now?
It would be fair to say we can look forward to some market fluidity for the foreseeable future; house prices are proving to be fairly stable, and correct very swiftly from any downturn. The bottom has by no means fallen out of the market. One thing to bear in mind is that fewer people will be trying to sell their house right now, because everyone has the same questions you do, and so it can be something of a seller’s market. Do be prepared to compromise a little on price, but don’t become desperate due to the circumstances. You can make a sale.