Seasons come and go, but it is unmistakable is the fact that in every season that has a downside, there is also a blessing and a lesson. So what are some real estate major take-homes from this pandemic season? Feel free to add to this list:
1)Real Estate Properties Are the Best Investment Strategy
Can this all-time dispute now be buried once and for all? Stock markets have continuously crashed downhill in the onslaught of the pandemic. Meanwhile different real estate markets have been affected by the Coronavirus pandemic outbreak in varying ways and to variable degrees. In the past couple of weeks buying and selling real estate has definitely undergone major changes to protect the health and safety of all involved parties including real estate agents and brokers, homeowners, property buyers, and property sellers, and real estate investors. Nevertheless, activity has not ceased. Even more importantly, the fact that property values have not taken a downward plunge demonstrates the relatively few risks associated with investing in real estate, even at times of an economic crisis.
COVID-19 is teaching investors that RESIDENTIAL real estate investment is the optimal strategy, even in face of a pandemic. Buying an investment property to rent out is a low-risk strategy, especially compared to investing in stocks. Same goes for INVESTING IN LAND for land banking in a location where future assured development guarantees profitable ROI.
2)Traditional Rentals Are the Safest Real Estate Investing Strategy
The outbreak of the Coronavirus is showing real estate investors something very significant about the optimal rental strategy. Traditional rental properties have emerged as a better real estate investment strategy, both for beginner and experienced investors.
What distinguishes long term rental properties from short term rentals at the moment is that the former have not witnessed any significant drop in demand. People always need a place to live, no matter if there is a crisis or not. The current pandemic is showing that buying an investment property to rent out on a long term basis is the most secure form of real estate investing.
3) Virtual Reality Is Taking Over
Even though real estate is a relatively traditional industry, real estate technology has been slowly imposing itself in recent years. The Coronavirus pandemic is definitely accelerating this process.
Many real estate investment companies have had to switch to virtual tours. The advancement of real estate technology has made virtual tours accessible even for beginners. With available tools agents and homeowners don’t need a professional to create virtual tours of homes for sale and post them online.
The COVID-19 pandemic is something that we have not experienced in modern time. As such, it is showing us some important facts about the real estate business. Both real estate investors and agents should keep these key lessons in mind as we start emerging from the pandemic and going back to our normal lives.
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