Buying a home is one of the most important (and expensive) purchases you’ll make in your lifetime. The world of real estate can be complex and hard to navigate, particularly for new home buyers, and this can make the home-buying process seem daunting and scary.
Thankfully, the world has evolved and technology has taken buying a home to a new level and improved the home-buying experience, making it seem less frightful. Combining technology with a knowledgeable and helpful realtor can make the home-buying process pleasant and fun.
Here are some ways that technology has improved the home-buying experience:
Online Home Searching
Technology has made it possible for people to search for their new home on the internet. With a variety of different sites to look at, you are sure to find the house that will fit your wants and needs — when it’s convenient for you.
If you have a few minutes during a break at work, you can hop onto a listserv and see what houses are in your price range. At night before you go to bed, you and your spouse can peruse the housing options and create a list of the ones you like.
One of the other benefits of conducting online home searching is that you can narrow down the choices to exactly what you’re looking for. You can look specifically for houses in a certain price range, or that have a certain number of bedrooms or bathrooms, or a house with an open concept. This saves you a lot of time and ensures you’re only looking at houses that fit your criteria.
Find a House Faster
In addition, online home searching gives you a better idea of what’s on the market in real-time. In the past, available houses were published in magazines and potentially in the newspaper, but by the time those publications were available to the public, many of the houses had already sold. Wanting to look at a house that is no longer available can be incredibly frustrating. It also makes it feel like you are wasting your time.
Online, you can set alerts to know within minutes or hours of when a house is put on the market. If the housing market in your area is competitive, this could give you an advantage to get to the property as soon as possible to determine if the house is right for you.
Searching online for a house also saves the realtor time. Placing their listings online ensures that the listing reaches a wider audience and could potentially attract more buyers for the properties they have for sale. In some cases, the buyer may not be in the same town, but that doesn’t matter when they can access the listings online. No matter if they are searching for a condo for sale in Scottsdale Arizona or a luxury home in Greenwich, Connecticut, online searching opens up the market to more people to improve the home-buying process.
3D Cameras (Virtual Tours)
In the past, the only way a home buyer would know what the property looked like was by scheduling a home visit to physically check it out. This could be incredibly time-consuming, since the realtor, buyers and sellers would have to find time during their day to go to the house.
With 3D cameras, it’s now possible to look at the home virtually to get an idea of what it looks like — and this benefits buyers and sellers alike.
One of the other advantages of offering a high-quality 3D virtual tour is that it gives the buyer a much better idea of what the entire house looks like. This could help them determine if the property is exactly what they’re looking for or if they should look at other options, without wasting their time driving to the house and walking around the property
Like online home searching, 3D virtual tours allow buyers to browse for their dream home on their schedule. They don’t have to worry about taking time off work or spending their evenings or weekends driving to various homes around town. This can help relieve a lot of frustration and stress during the home-buying process.
Offering 3D tours benefits realtors and sellers as well because it makes the home stand out from the crowd. These tours provide a realistic experience for the buyers and allow them to envision what it would be like living in the home.
There’s no pressure on the buyer to make a decision or rush through the process because a 3D tour allows them to take as much time as they want/need to enjoy the beauty of the home. There’s also no pressure on the seller to frantically clean their house before it’s shown because the 3D tour shows the home in all its glory.
Online Mortgage Approvals
Most homebuyers don’t have the cash on hand that they need to purchase a home — and that’s totally normal. Mortgages are put in place to help people buy their dream home and pay it off over time.
Traditionally, a buyer would have to make an appointment with a lender to see how much they qualified for. This could be an incredibly time-consuming and stressful process, as their choices of banks may be limited. If they are denied, they may not have any other options, which could crush their hopes of homeownership.
With the advancement of technology, it is now possible for buyers to apply online for a mortgage, and you get to choose which lender you want to work with. You aren’t limited to the lenders in your town, and since they are competing for your business, you may be able to get special rates or other incentives.
Signing Documents Remotely (Docu Sign)
Another way that technology has improved the home-buying process is by making it possible to sign documents remotely. Again, this can save you a lot of time.
Of course, it’s recommended that before signing you understand exactly what you’re getting into. These are legally binding documents. If you have any questions, you need to talk to your realtor. They will understand all the legal terms and what each part of the document means so that you know exactly what you’re signing.
Home Buying Made Better
Making the decision to buy a home isn’t one that’s made lightly. The process can be stressful and frustrating, but technology has found ways to improve the home-buying process. By using technology and working with a knowledgeable realtor, finding the right home should be easier than you imagined.