Buying a Property Online During Covid-19 Pandemic

Posted by: Prachi Shah
15th June, 2020
1,165

The Covid-19 pandemic has hit the global economies hit hard. With no cure for Covid-19, the world is now learning to live with the pandemic; the industries are gearing up to brace the situation. At an individual level, while people were waiting to get back to their usual business post-Covid-19 break out, living with Covid-19 seems to be the new normal now.

With no cure and line of treatment around, all stalled and postponed decisions are now being thought to be actioned upon, one such critical decision being property investment.

There is considerable pent-up demand from people who were contemplating making property investment prior to the Covid-19 pandemic. With the pandemic being the new normal, this demand has resurged and resurfaced given the attractive lending rates from the banks and offers from developers.

With changing times, social distancing norms, the real estate industry, has embraced a digital future, revamped designs, adapted to online processes to cater to the new ‘Online Property Buyers’.

Pune real estate market is all geared up and leaving no stone unturned to turn the tide and welcome its new online buyers. This is an opportune time to invest in Pune with most developers offering online property buying options on their website, leaving little for buyer’s physical visit. For those minimal visits, the constructions sites are following Covid-19 norms and standards.

Reason to Buy Property Online During Covid-19

With the social distancing norms and fear of infection, crowded project sites is a forgotten scene now. People are unwilling to move out of their homes to avoid catching Covid-19 infection. To overcome this buying hurdle, the mode of working in the real estate industry is also changing slowly.

Availability of Information on Projects Online on Developer Websites

The real estate industry is moving more and more processes to online transactions and is beginning to use modern-day technology to meet & revive the demand for property investments. Developers have already begun to automate most selling processes so that most of the enquiries prior to booking may be done online.
If there is something that may push property investment in these Covid-19 times, it is the Internet. Since there are no/minimal physical visits, prospects are seeking information online. This is also the only way of research and updates left for them.
The developers are making an effort to build a great online presence; keep updating their websites regularly with important information about the sale, launches, amenities, payments, construction details, etc. The buyers in these times will rely solely on the information you provide. So the more lucid and transparent the communication is, the better it augurs for business
Real estate companies are now using a mix of virtual reality, automation and analytics to woo customers.
Make the most of AR/VR: There is this huge onrush of AR (augmented reality) and VR (virtual reality) which is now seeping into the smaller cities, as well. The developers are ensuring to give the customers great experience considering they are far away from the project
There is the increased usage of video walkthroughs, digital inspection, e-launches. The buyers get a real feel of the apartment they plan to buy through a virtual tour. Not just that they also get to view the neighbouring locations, social infrastructure information.
Many developers have reinvented their websites to have better enquiry features, made them user-friendly and have displayed all information that was earlier shared through calls, brochures.
To observe social distancing norms, the appointments for physical visits to construction-sires are also given on phone to avoid the crowd.
Most processes are automated and online, enquiries are handled by sales staff on phones to restrict physical movement. There is generally a dedicated team that addresses customer grievances in real-time.

All in all the developers have streamlined the processes online so that the buyers make minimal physical visits to the project and yet be able to buy property online.

User-Friendly Real Estate Portals: Search Homes Online on Real Estate Portals:

For a lot of home buyers, online information poses to be what they consider groundwork and research. Hereon, real estate portals and online services have a much greater role. Many prospective buyers have already switched to online portals for home searches. The real estate portals give you a plethora of information to help you make an informed decision.

They give you a range of properties to choose from.
They are equipped with all the information that buyers would require to shortlist a dream home (including a budget, lifestyle and preferences).
You may even make price comparisons between various properties.
Many portals have a dynamic discussion forum aimed to solve all your queries; you may join the conversation with lakhs of other interested buyers. These online real estate portals help you with end-to-end service.

Considering it will take a while to get back to the usual normal, we have to live with Covid-19 and go ahead with our plans to make a property investment; the safest bet is to buy property online. Since many developers have switched sales & bookings processes online, most of your work may be done online itself without having to visit the site.

Investing in property will always pay; in the short-term, transactions might have dipped but in the long run, property buying will still remain lucrative and promising. Make most of this time with lower interest rates, attractive offers from developers, easy payment plans and most of all the option to do it all from the comfort of your home. Don’t lose out on this opportune time!