Real estate investment opportunities and market trends in 2020 can give a great insight into the trends to watch out for in the New Year. With mortgage rates so low, now is a great time to purchase, whether it be a starter home or a rental property. Roy Dekel Setschedule CEO recommends that you seriously consider a real estate investment plan to make the most of the current situation. 2020 hasn’t been particularly promising, as the global crisis that struck the world in the form of COVID-19 struck a blow to business areas and traditional sectors. Going into 2021, it is important to ask yourself: “how will the real estate space be influenced with the events of this last year”, and “by what means will I have to change your investment strategy to boost your profits”? Here are a few points to consider:
Look for demands in office space
Because of the global epidemic, numerous organizations have moved their teams and some have transitioned the entirety of their business online, with the help of various video and conferencing software platforms. Instant messaging solutions and email have assisted the transition as well. This shift has revealed to many businesses that work-from-home solutions may be more feasible moving forward, even past the outbreak. Many companies plan to offer some form of remote or hybrid schedules. This is probably going to affect the rising demand for office space areas. As more businesses have been opting for remote work, the emphasis will be on ensuring that safety is guaranteed for neighborhood offices and apartments. As individual companies focus on lowering the number of in office workers, they may still opt for having some of their staff relocate to a more focal and spaced out location; this could result in a sudden increase in demand for office space, but likely only in certain markets.
Making way for Digital Inspections
Many urban areas and cities worldwide have put restrictions on movement to contain the widespread outbreak of COVID-19. However, this has not prevented real estate growth: both sellers and buyers have come up with innovative ideas to conduct inspections and transactions on the property. There has been a difference in view from both sides of the transaction. If you are a seller, your focus will be on providing potential buyers with the most vivid experience you can. The video and photo technology has been continuously evolving. Moreover, you can opt for a live video session or an AR program to vividly present the property to potential buyers. The more vivid the presentation, the more likely you will be able to convince interested buyers to submit an offer. If you are a buyer, then it becomes critical to remember that numerous small tweaks and details that sellers adjust when taking photos or videos may not give you the best view of the property. As noted by Roy Dekel, CEO at Setschedule, even a minor adjustment like tweaking the light exposure to the lens in a photo can have a massive impact on its overall look. When you are looking, finding homes with full room images and multiple angles is advisable so you can get a better impression of the space. This will probably help you in making a much more detailed and informative decision.
Look for changes in the property evaluations
With the rapid change in the preferences of investors and buyers on various property types and locations, one can expect a shake-up to real estate evaluations. This is one of the most crucial points to remember for those who own property or intend to purchase one. As we mentioned earlier, office spaces are turning out to be less attractive due to the long-term shift in remote working. That will influence the evaluation of these properties. If you began to invest in office spaces as they were expanding into more remote areas, it very well may be a smart move to shift before depreciation starts to hit. If you are a buyer, it very well might be a good idea to hold off on closing a deal for a workspace since it might undergo a fall in price. The only exceptions are commercial properties in prime locations. If that’s the kind of opportunity you have, purchasing it sooner than later would be the prudent thing to do. To learn more about how you can make the most of the real estate market, you can reach out to SetSchedule to find the right agent who can help you move forward. Learn more here.
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