How Technology Has Simplified The Home Buying Process

Jul 5, 2020Home Buying

Buying a new home is an exciting endeavor for many American families. 

But as exciting as house hunting can be, there is still some stress and work that goes into the process. 

Thankfully, buying a home has become easier and more streamlined in recent years because of the technology now available. 

Today, much less running around to the bank, lawyers, viewings, and insurance companies is required. 

Virtual viewings, phone and video consultations, and electronic signatures mean you can save a significant amount of time and energy as you hunt for and purchase your dream Silicon Valley home.

More importantly, technology has been the factor that has made home buying a reality during COVID-19. People can find and view the perfect home from the safety of their living room.

Today, Bluefin Realty wants to share with you some of the amazing ways that today’s technology has simplified the home buying process.

Searching For Potential Homes 

The most important part of buying a home is finding the right one for you and your family. 

In the past, locating the perfect home for your family’s lifestyle took a lot of work!

Say goodbye to the days of driving around from house to house, multiple phone calls to realtors and homeowners, as well as face to face meetings with your real estate agent. 

A new and better way of finding your dream home is here thanks to today’s advanced technology.

There are many online platforms where you can view the most recent listings in your desired area. These websites take away the need to drive all over town to find potential homes. 

Websites like these are easy to use and incredibly helpful in your search for a beautiful home.

Viewing Desirable Homes

In past years, you might drive past a home you are interested in and evaluate the exterior. Then, if you were interested, you would have to wait for an open house or for your realtor to set up a viewing. 

Now, the majority of online listings have extensive virtual tours or even video presentations. 

You can also use sites such as Google maps to get a good street view or a survey of the entire neighborhood. And you can do all of this from the comfort of your couch!

Many real estate agencies have also begun doing virtual tours as a way to keep people healthy during COVID-19, and to help save their clients time and money.

Virtual tours have changed the home buying game and made it easier and quicker to take a close look at potential homes.

Applying For A Mortgage

The process of applying for a mortgage is something that a lot of people dread. However, mortgage applications have also become a lot more simple thanks to technological advances. 

USAA says, 

“You don’t need an appointment at a bank during normal business hours for a mortgage loan pre-approval. 

With mobile and online applications, you can get a preapproval from the comfort of home day or night.

In addition to speeding the application and underwriting processes, technology also makes it easy to research current rates, use a mortgage calculator to crunch your own numbers on different mortgage scenarios, and get competing offers from multiple lenders.”

You no longer need to dread the mortgage application process. For many, it is quick and painless.

The Closing Process

The closing of your new home sale used to be known as a long and tedious process. 

But in recent years, remote closing has completely changed that. Buyers are now able to do most of their documentation review and signing online.

Investopedia says that, 

“The E-Sign Act of 2000 makes your electronic signature just as valid as if you signed the documents in person.

In addition, advances in technology have made remote closings routine for sellers and very feasible for buyers. Your agent will send you all the pages of the contract and addendums. You’ll sign them using an electronic-signature system, which usually sends the signed forms back to the appropriate party.”

Although some paperwork will eventually need to be signed physically for your lawyer, doing most of the signing during closure online will help streamline the entire process.

Moving Into Your Dream Home

When the house buying process is complete and you get to move into your dream home, you will most likely receive a standard key. You have a new home. This is a big moment to be celebrated! 

Once you move in, you may want to consider using some of today’s new technology to better your life in your new house. 

There are many different smart home tools and devices that can better your life. Things such as smart locks, security cameras, and thermostats that you can control from your phone. These can all make life a little easier and remove some daily worries while adding additional security. 

For help finding your Silicon Valley dream home click here to contact Bluefin Realty today.