What Comes After?
Category General
South Africa's national lockdown will have many people getting to know their homes a lot better than they ever have before. For some, this will present the perfect opportunity to make more of their homes, to turn their property into a place they want to spend more time in, even after the lockdown ends. For others, the cabin fever may prove too much and will leave them eager to never see the four walls they were forced to stare into again.
For those who grow more attached to their properties during this time, the possibilities of what is to come may be wonderous and almost endless. As people start setting up home offices for the business ventures they finally figured out during the lockdown or cancelling their gym membership in favour of a home exercise setup, markets that were dormant will flourish as people make their homes their home base. These property alterations will also open up new avenues in the real estate market as buyers and sellers alike will have new features at their disposal.
But it is also understandable that homeowners who were merely contemplating buying a new home may have their minds made up after being forced to spend this period in a home they had already fallen out of love with. The important thing to remember when entering the property market following the lockdown, is to remain calm and make the best choice.
The property market has proven again and again that it bounces back even after drastic setbacks. While the stock prices hit rock bottom, property prices are still quite stable. The real estate market's long-term stability, and ability to stay standing even in the roughest of times, is one of its differentiating factors as an asset class. A property, unlike stocks, is a physical structure that continues to stand unaffected by the pandemic. And no matter what, people will still need homes. The market may weaken slightly in the short term, but it may prove to be the quickest in finding its feet again.
Once the lockdown has ended, buying property should be approached with the same diligence and careful consideration that have always been necessities in property purchases. Don't rush into any decisions or rush the inspection of the property simply because you are eager to expand your newfound freedom.
That being said, the lockdown should influence your final decision. Those who have grown disillusioned with their homes should utilise this time to get a clear vision of what they want their dream homes to be. By drawing on the areas in which your current home lacks and falls short of what you want in a home, you can find a clearer vision of what you want. With a clear vision in mind, and keeping your cool, finding the right property after the lockdown will be a lot simpler.
This time is also perfect for sprucing up a property that will soon enter the market again. There's no doubt that the confinement will help you seek out even littlest of flaws in the most hidden nooks and crannies. With a bit of DIY and spring cleaning in the middle of autumn, you can put your property back on the map like never before, once the market is open again.
Make the best of the isolation, and don't hesitate to contact your Meridian iAgent to assist you as you plan your comeback.
Author: Meridian Realty
