During the madness that everyone is facing in the world currently, there are still people who are looking for new places to live. COVID-19 has actually made Denver movers a hot commodity. Yet, why are there so many people on the move?
1. Losing Employment
With a sudden drop in income, rent payments have been scarce for several people throughout the US. COVID-19 has made money almost none existent because of shutdowns in certain states causing businesses to close temporarily or altogether. This means people are required to look for another place to live, as well as finding another job.
2. Spikes in Illnesses
Another reason this pandemic has brought on a lot of moving is that people are scared. They are scared when they hear their county has more and more people getting sick from COVID-19. As a result, they pick up and move somewhere they think is safer. That fear drives them right out of the house they currently live in and into a new one.
3. Lower Mortgage Rate
According to Business Insider, one of the most common purchases this year have been a house. With the economy in its current state, mortgage rates are at an all-time low, making it less expensive to purchase a home. A buyer can get an incredible home for a fraction of the price.
4. Selling Homes for More
In contrast, people looking to sell their home can do so with confidence that a bigger profit will come to them. This year has seen a 41 percent increase in purchase amounts for sellers. Another reason this is great for sellers is the number of homes available to buy is slowly dwindling. The need is more drastic this year, but supply and demand can’t keep up. This means the buyer can up the price and in most cases get paid what they are asking.
5. Dedicated Work At Home Space
Working from home has become the reality for a big part of the country this year. As businesses close offices, workers are finding themselves left to create makeshift offices. This, in turn, has brought on a hunt for new places to have an actual dedicated home office, which means for most they will need to move to find it.
COVID-19 has had a huge impact on everyone. Businesses have adapted well and have given more opportunities to people in how they adapt, too. People are on the move, literally, moving in and out of their homes as for many people, it is the ideal time to take advantage of shifts in the real estate market.
Article Submitted By Community Writer
