Four Ways Technology Is Changing the Way People Buy a Home

Technology has drastically altered the way that consumers conduct everyday activities. From ordering a pizza to shopping for pants, there are few things that cannot be done through the internet. This is also true for searching for and buying a home, explains this article on The Business Wire website. People ready to purchase a home are now doing most of their legwork through technology. These four ways that technology is changing the way people buy a home can help consumers, real estate agents and home sellers to make the most of this considerable market change.

Calculating Mortgage Payments

Before people start searching for their new home, they need to know how much house they can afford. Online mortgage calculators allow people to estimate how much a monthly payment would be based upon how much they can put down, what the local property tax rates are and what their mortgage loan interest rate would be. Being able to estimate how much of a monthly payment is affordable allows home buyers to limit their search to homes that are within their price range.

Finding an Agent

People who have never worked with a real estate agent before are able to use technology to read about each agent’s experience and area of expertise. They can also tap into their social networks and get referrals from friends and family members who have recently worked with an agent in the community where they plan to buy a home. Working with the right real estate agent can make or break the home buying experience and technology can be a real time saver when it comes to finding an agent that suits a particular buyer’s needs.

Exploring Neighborhoods Virtually

Instead of having to drive around each neighborhood and assess a home listing’s proximity to parks, schools, shopping and other amenities, technology allows home buyers to do this from anywhere. Not only do home buyers save hours of time using technology to explore potential neighborhoods, but they also cut down on mileage and fuel consumption as well. Home buyers can also use technology to map out routes from a potential home to work or school, check into the proximity of certain types of criminal activities and find out which school system their future residence is assigned to. Technology can also be used to compare property values of different homes or different neighborhoods.

Perusing Home Listings

With hundreds or even thousands of homes for sale in any given community, sorting through them would be a time consuming process without technology. There are smartphone apps and programs for tablets that allow home buyers to sort through homes for sale based on specific criteria. Home buyers can use these apps to sort through homes based on price, square footage, lot size, the number of bedrooms or bathrooms and one story versus multistory. Home buyers can also use the technology to select homes with desirable amenities such as central air conditioning.

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