Anyone Here Buying Real Estate During the Covid-19 Crisis? (new home, school)

[trevor0101]

Yep... we're looking to sell, and buy. We've planned on it for about a year.

[GeoffD]

Originally Posted by BostonMike7

Not yet, but my siblings and I have been throwing around the idea of a vacation place in NH/ME. This might be a good opportunity in a month or two

You won’t find deals until the foreclosure sales start happening. That’s a year from now assuming the economy doesn’t recover.

[Bridge781]

I have to say I’d never buy a house with siblings. Even if your relationship with your siblings is perfect you have your kids and their kids future to think about. I’ve seen two families in the past few years have falling outs over vacation homes. It seems like a good idea at the time but in most situations turns into a headache. I know another family that has assigned weekends on
When they can go and it was never like that a few years back for them but families grow. I just know I couldn’t share a home with my DHs family. I think I’d be ok sharing one with my brother but he’s single.

[BostonMike7]

Originally Posted by GeoffD

You won’t find deals until the foreclosure sales start happening. That’s a year from now assuming the economy doesn’t recover.

Yes, your timing makes more sense. A couple months is much too soon. During the 2008 downturn, I purchased a foreclosure in 2010 so i'd have to imagine we would need to act on a similar timeline.

Originally Posted by Bridge781

I have to say I’d never buy a house with siblings. Even if your relationship with your siblings is perfect you have your kids and their kids future to think about.

My family has a great relationship. I'm not worried about it. We already co-own an investment property.

[mdovell]

Inheritance is also another way that family members can get properties. My best advice would that would be to put things within the living trust because any form of a will is going to have at least six months of probate.

I think there's a number of other factors in this they're going to take a while to play out. I don't know if public transportation is going to come back. I do think that gas prices are going to start the creep back up again.

I also think much of the court systems as slow down if not stopped and that makes anyting of legal deal to be much harder.

I'm also wondering if we might start to see more of the underground economy start to Bubble Up. There's a restaurant near my parents that has a huge overdue tax bill of over $40,000. Supposedly he started to sell used cars on his property. The town is turning a blind eye because of the change in leadership coming up and the coronavirus much more important. As more people live together in more of a 24/7 mentality of offices they might also here and experience others in higher duration and they have before. I know that someone near me blows a shofar. I looked it up, know what it is and it doesn't bother me. But... I don't know if others see it the same way.

[Bridge781]

Good points about the T. That has been a plus to live near a t stop for a while now. Maybe that will start to matter less as more people may have the option to work from home moving forward now.

[bugelrex]

Originally Posted by Bridge781

Good points about the T. That has been a plus to live near a t stop for a while now. Maybe that will start to matter less as more people may have the option to work from home moving forward now.

I suspect the new priorities for the next 5 years would be
- larger sized homes (2500 sqft +)
- home office (4 br home)
- ease of access to highway (to work)
- decent backyard
- detached home

I cant imagine why remote working will not be widely accepted.. those unable to adapt now will simply be out of business when this is all over

Technically this is the 3rd recent virus Sars, mers.. people want to be prepared for the next one

[brightdoglover]

[quote=bugelrex;57746420...
I cant imagine why remote working will not be widely accepted.. those unable to adapt now will simply be out of business when this is all over

Technically this is the 3rd recent virus Sars, mers.. people want to be prepared for the next one[/QUOTE]


Please remember the enormous numbers of workers who have jobs that don't lend themselves or allow remote working- health care, hospitality, home care, trades. Housing near the T will always be a plus. (Disclaimer- I worked in healthcare for many years in the Boston area and know that many many people do not work behind screens in an office- all over the country!)

[chicagoliz]

While I do think that remote working will be more accepted, I still do not think it will ever replace the need for face to face in person meetings and daily working together work environments. Even now, some people are realizing that the teleconferences are just not as good as the in-person meetings. So I don't think that the need for a commute is going to disappear, even if there is a simultaneous acceptance that working from home is viable. Maybe you see more people working from home a couple days a week or something, rather than transitioning huge numbers of people to WFH only.

I also think we're going to have a major shake up in governmental priorities, even if it takes another election or even two. I think infrastructure is one area that is going to be heavily addressed, and that will include public transit. I don't think it is going to go away, because at some point the pandemic outbreak will end. Even if it takes a long time.

[Bridge781]

A lot of people were already working from home before all of this happened. Maybe not everyday but certainly a few times a week.

I do think face to face time is valuable but there isn’t a need for it 5 days a week. At least not for my job.