For pandemic-era homebuyers, virtual tours and patience can pay off

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As the country buckles in for its next great recession, housing sales have plummeted to their lowest levels since 1984, and prices in some areas have become more favourable for buyers.

This makes it an opportune time for first-timers like Rosenthal, although he says the move still feels like a dangerous one. While the pair are relatively job secure, making a significant financial investment in the middle of a pandemic still feels risky.

"In a virtual walk-through your opinion is based on the quality of that camera person," Rosenthal says. "A professionally done one makes it look impeccable. But you can't see everything. You know, you don't get to open up the cabinets." He also suggests looking for gaps in photo collections when browsing listings. If you have a floor plan, it's worth making sure photos of every room in the property are shown online. Missing rooms are an indication that the seller is trying to cover up problem areas while in-person access remains limited.

"People say if it's going to be your primary residence, it's always the right time to buy if you have the money," Rosenthal says.

 

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