How Technology Has Changed The Homebuying Process

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Thirty years ago, buying a house was a major event that required constant back and forth with realtors and sellers along with numerous appointments to see homes and complete the paperwork necessary to make it yours. Those old days are all but gone now as technology has made the home buying process as easy as ever for customers and real estate agents alike.

Now, buyers can complete just about every step of the home buying process at the touch of a button, and most tasks can be completed without leaving home. If you are considering buying a new house, then you will likely be excited about these awesome innovations, including the ability to see more information about sellers, sign closing documents from anywhere, and how to view a home without stepping outside.

Real Estate Apps

Perhaps one of the most recognizable improvements in the home buying process is that everyone has instant access to all of the necessary details of properties with helpful websites and apps like Zillow and Redfin. With these apps, potential buyers can be notified of new homes within moments after they’ve been listed with electronic alerts. If the house is attractive to their needs, then a buyer can contact the real estate agent throughout the app to request a showing.

A great aspect of these apps is the ability to set parameters for the types of homes that buyers want to see. For instance, buyers can adjust filters for things like how many bedrooms they would want, if the home has a garage, the square footage they are looking for, and perhaps most importantly, how much money they are willing to spend on the home. Then, only those properties are sent for review. Many of these apps even have mortgage calculators so you can see exactly how much your mortgage payment would be after fees and insurance.

In addition to finding homes that fit your parameters, you can also get a clearer picture of the potential neighbourhood where you may soon be a resident. Many of these apps will tell you about local shopping and entertainment offerings, the crime rate, and even reviews of the schools in the area. While many agents may use clever tactics to get their properties to the top of the list, these apps allow buyers to see all potential offerings with ease.

Access to Information

The evolution of the internet has been a major turning point that gives potential home buyers a major advantage. Now, instead of simply taking the word of real estate agents and sellers, a search online can provide further details so buyers can make a more informed decision.

For instance, if it is not listed on one of the apps, a consumer can do a simple search online for average property values in the area and decide if the house they have their eye on is priced higher than necessary, a common mistake real estate agents and their clients make. If it seems high, buyers can contact their agent to see if there is a reason for the cost or if a change needs to be made. This benefit goes for sellers as well. If someone is thinking of putting their home on the market, they can search online for recent sales of similar houses and see how much those sold for and make the same consideration for their home.

This improved access to information has also helped potential buyers understand the warning signs that they should avoid when considering a property. Possibly the greatest red flag that thankfully has been reduced over the years is the existence of asbestos, which is a harmful chemical often found in the building supplies of homes built before 1980. Before the internet, many people didn’t know the dangers of asbestos, which includes lung disease and mesothelioma, so it was often covered up. Now, we know better.

If you are purchasing an older home and an inspection declares that there is asbestos on the property, then steer clear.

Buy a House Without Leaving Home

Technology has evolved so much over the years that if someone was so inclined, they could almost go through the entire home buying process from start to finish without leaving their living room. The benefits below are great not only for the convenience they offer but also for the safety measures they provide during the existence of COVID-19. Now, those in higher-risk classes don’t have to go to public places like open houses and loan offices so they can avoid the risk of coronavirus.

Perhaps the greatest benefit in this regard is the ability to actually tour the inside of a home without stepping foot through the front door, thanks to advancements in AR/VR technology, which allows buyers to take a virtual tour of every section of the house through the computer. This can be as simple as viewing pictures of every square foot of the home, or it could include a more advanced approach with VR technology, where you can actually “walk through” a home by putting on a headset so it is like you are really there.

If you end up finding your dream house, then you can also sign all necessary contracts remotely as well. Instead of going to an office, the necessary paperwork can be sent to your computer or smartphone so you can review and sign at your leisure. On top of that, API technology in your device can connect to your banking information, which makes completing and signing your closing paperwork a snap.

As you can see, technology has made home buying easier than ever. Consider the tips above and research a potential home thoroughly, so you can make the best decision for yourself and your family.