Why Do We Buy Houses in Philadelphia During COVID-19?
Timing is everything when it comes to buying houses. If you purchase a house right before the market drops, you could be in trouble. On the flip side, if you buy property right before the market goes up, you could be in good shape. We buy houses in Philadelphia regardless of the time of year.
We (at Brotherly Love Real Estate Team) do this because we always make sure to buy houses at the right price. Additionally, we analyze the property we plan to buy and decide what our end goal is with it. Depending on what your short-term and long-term plans are for real estate investing, you can still generate a profit while buying houses during COVID-19.
Keep reading to learn more about buying houses during COVID and why we buy houses in Philadelphia during COVID-19.
Cast Study: House in Philadelphia Bought During COVID-19
Similar to the house we bought in Port Richmond, which is near Fishtown in Philadelphia, we bought a house during the pandemic. The reason we were able to go into this real estate purchase with confidence was because of our end goal with the property.
This property was not a quick fix and flip. Our end goal for this property was to buy it and hold onto it long-term. Even though it is still a seller’s market when it comes to buying and selling homes right now, there are still opportunities for buyers to find good deals.
One of the safest investments right now is on a property you don’t need to renovate or refinance in the near future. By taking those two factors out of the equation, you can hedge your bets more safely when buying houses.
However, since it is a seller’s market, buyers need to do whatever they can to make their offers stand out. That’s why we suggest buying houses with cash, when possible, to help you close on more properties.
How to Buy a House in Philly at the Right Price
“You make money when you buy” is a common saying in the real estate investing world – and for good reason. Even if your original game plan for the property goes awry, if you buy the house at a good enough price, you can still end up in the green with your investment.
Remember, when buying a property, the most important thing you can do to ensure you get the right price is to bring your negotiating pants when getting ready to buy a house in Philadelphia, PA. You will come across various types of sellers, including for sale by owner.
Make sure you’re also considering the seller’s timeline during the negotiation. If they need to sell their house fast, you will need to close fast, which can impact the price you buy at.
Watch the YouTube video to learn more about buying houses during COVID-19 and how to make the right investment choice for you.
Why Do We Buy Houses in Philadelphia All Year?
Brotherly Love Real Estate does not let the cold winter or the humid summer months of Philly stop us from buying houses. Typically, home sales and home prices decrease slightly in the winter. But we keep our strategy the same and continue purchasing properties all throughout the year.
Even with major world events like COVID-19, we still buy houses in Philadelphia at any time. This past spring was slow for us and many other real estate companies. However, this summer has picked up and things are trending in the right direction for the local market.
Summary: Buying Houses During COVID in Philly
To sum everything up, there is never a perfect time to buy a house. There will always be factors with you, and factors again you. It’s important to make the decision at the time that’s right for you. Learn more about when is best to sell a house in Philadelphia in our expert guide.
Brotherly Love Real Estate operates throughout the year regardless of what is going on in the world. We buy houses in Philadelphia, PA during the harsh winters of Pennsylvania, as well as during pandemics.
If you’re curious about how we purchase properties throughout the year or buying houses during COVID, feel free to reach out and ask! We are here to help. If you need to sell your house in Philly, we can make you a cash offer today. Give us a call at (215) 769-9875 or contact us online.