Technology has taken over every aspect of living. Right from eating, traveling, working, and even owning assets, and conducting transactions, tech has more or less altered the way we do everything. The world of real estate too can see changes caused due to technology, and especially so in the home-buying process. For the home-buyer, the journey to own their dream home is now:
- Smoother
- Faster
- Convenient
- Remote
- Efficient
- Reliable
- Accessible
In this article, we will learn about the different ways in which technology has made the homebuyer’s journey all of these things, and more.
1. Easy Home Searching
The days of finding a trusted broker who would help narrow down your list of ideal homes are over.
Now interested homebuyers can log onto any trusted website and search for their dream home by using location, price, size, amenities filters that can help them narrow down their options exactly as per convenience. As per these locations, a buyer can even filter on the basis of the neighborhood and the kind of infrastructure available around with respect to education, hospitals, offices, entertainment, and more.
What’s more, is that the information available on these portals is always refreshed and updated in real-time.
2. Property viewing through Virtual Reality
In a world that is facing a pandemic, most people prefer to limit contact and conduct their businesses online, even something as major as home-buying. Millennials especially, those who are used to instant gratification would choose online methods over physical or face-to-face ones. The onset of Virtual reality has made this possible. Potential home-buyers can now view properties online through customized 3D walk-throughs that are enabled using VR/AR technologies that use a combination of images and videos that give the buyer a very close look and feel of the space that they might invest in.
It saves both effort and time, especially when a buyer could be traveling across cities to view their future home.
3. Mortgage Comparison
An important part of home-buying is the mortgage. In order to avoid unexpected costs and to be able to secure loans seamlessly, buyers need to be aware of the mortgages on homes.
Today, there are a host of mortgage comparison tools that allow a buyer to not just apply for pre-mortgage online, but also to analyze their finances and come to a loan estimate. It is a smooth process and will also save the cost of hiring a broker.
Our recommendation: to hire the services of a loan officer who can assist and offer their expert guidance.
4. Meeting reliable agents
Just like it is possible to buy everything online, it is also possible to pick an agent online. Someone with credentials, trust, and reliability, who has been reviewed by home-buyers. Based on reviews, one can shortlist an agent that also suits their needs in terms of interests and budgets.
A word-of-mouth approach, but wider, easier, and stress-free.
To sum up, technology has really changed the way how things work in the real estate market. And not just buyers, sellers to find it as convenient. A win-win situation for all that is only getting all the more efficient thanks to innovation and technology.