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. The Brotherly Love Real Estate Team does 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.
We bought a House in Philadelphia 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 real estate purchase with confidence is because of our end goal with the property. This was not a quick fix and flip. Our end goal for this property is 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 for a property that you don’t need to renovate and that you don’t need to 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. I highly suggest buying houses with cash when possible to help you close on more properties.
Buying 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 you 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. 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. Additionally, the timeline of the seller is important to consider when preparing to purchase property. If they need to sell their house fast, you will need to close fast.
We Buy Houses in Philadelphia All Year
Brotherly Love Real Estate does not let the cold winter months, or the humid summer months, of Philly stop us from buying houses. Typically, home sales and home prices decrease slightly in the winter. We keep our strategy the same, and continue purchasing property all throughout the year. Even with major world events like COVID-19, we still buy houses in Philadelphia 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.
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. 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 are curious how we purchase properties throughout the year, 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. Please contact us at (215) 769-9875