The COVID-19 pandemic has affected seemingly every aspect of our lives. Now, “going out” means sitting in your back yard, and “heading to the movies” means browsing Netflix from your couch. But after you’ve finished with all your home projects (or have gotten sick of your house entirely), you might be feeling like it’s time to start working toward your dream of moving to Hawaii. But is that even still a possibility?
Of course it is! Social distancing and quarantines aren’t enough to stop your dreams from coming true. Luckily, most real estate transactions can easily be done sight unseen. Even before the pandemic hit, many buyers were purchasing property in Hawaii without ever setting foot on the Island. How’s that for social distancing?
If you’re interested in purchasing property on the Big Island during the COVID-19 pandemic, here’s how you do it.
Step 1: Pick Your Budget
I know, I know, looking at houses is much more fun than talking about what you can afford, but there’s no heartbreak worse than falling in love with a home only to realize that it’s way out of your budget. The first step to buying a house should be deciding how you’d like to pay for your home. If you’re paying in cash, this part is easy. How much money do you have in the bank? That’s your budget.
If you’re financing your home, you’ll need to hop on the internet and find a lender. Remember, it’s always best to go with a local lender over a big nationwide firm. They understand the Hawaiian real estate market the best and will be able to offer you better tips and suggestions. If you’re having trouble finding a local lender, ask your friendly neighborhood real estate agent. I’d be happy to point you in the right direction.
Once you find a lender, get pre-qualified and pre-approved for a loan. It can all be done online and over the phone. It’ll help you set a budget and make the next few steps in the process a bit easier.
Step 2: Find a House
Now it’s time to have some fun. Scour the internet to find your dream home. This shouldn’t be hard since you’ve probably been working on it since quarantine started anyway. There are plenty of websites out there to search for available listings. Even if you find a house that’s not being sold by your agent’s company, chances are they can still get you a “showing.” All you have to do is ask.
Once you find the perfect house, you should make sure that it’s actually perfect. Remember, the websites you visit want to sell the homes. The pictures might show only the good parts. Use various sites like Google Maps to get a feel for the neighborhood and where the home is relative to important locations like the grocery store, beach, gas station, or the best bar in town. You know, the essentials.
Also remember that the cost of the house is only the tip of the iceberg. Be sure to factor in maintenance fees, HOA costs, property taxes, and any other additional expenses that might impact your budget. They can sneak up on you later if you’re not careful.
Step 3: Tour the Home
This part of the process has been impacted the most by COVID-19 restrictions. Of course, social distancing guidelines prevents you from entering someone else’s house or even being too close to your real estate agent, but you can still tour homes through a video chat. Real estate agents are still visiting houses and offering virtual tours. Simply schedule a tour and your agent, armed with a cell phone, will tour the house for you and show you everything there is to see.
You’ll still be able to get a good idea of what the house is like without breaking social distancing rules or even getting out of your comfy pants. Be sure to ask lots of questions.
Step 4: Make an Offer
Good job! You found a home that’s within your budget and not too far away from the bar grocery store. It’s time to put in an offer. This part is easy in the COVID-19 world, as it’s usually done via email or over the phone anyway. Your agent will contact the selling agent who will contact the sellers to see if they like your offer. After a few negotiations and hopefully not many fistfights (social distancing, you know), you’ll be ready to officially buy your Hawaiian dream house!
Step 5: Inspections
Just like touring houses, home inspections can also be done virtually. Typically, even if the home is across the street, the buyer doesn’t need to be present for the home inspection. A professional will go through your soon-to-be house with a fine-tooth comb and hopefully not find any problems. They’ll send their findings to you and your agent via email.
If they do find some problems, this is the time to negotiate with the sellers to pay for repairs. Again, this can all be done via email or over the phone from anywhere in the world.
Step 6: Closing
You’re almost there! Final negotiations and writing contracts are easily done online. Even most of the signing can be done right from your email. For the big signatures, like on the official contract, you’ll still have to sign with ink, but luckily, this can be done remotely too. Just find print the contract, find a notary near you, sign it, and ship it to Hawaii. No tables, no meeting, and no handshakes necessary.
Once all the paperwork goes through, you’ll be the proud owner of your own slice of Hawaiian paradise! And you did it all without leaving your home. Take that, coronavirus!
Making the Move to Hawaii
While the rest of your life has been flipped upside down by the COVID-19 pandemic, it’s still as easy as ever to purchase property in Hawaii. Every step of the process can be done remotely with minimal interaction. All you need is a computer, a phone, and an internet connection.
If you’re ready to take the first step in finding your dream home, I’m ready to help. I have years of experience helping people just like you find the perfect property on the Big Island. Give me a call at 808.209.6244 or send an email to RandyRipley808@gmail.com and start living your best life.
Aloha, and welcome to Hawaii.