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carolbrandywine

Crazy to apply for mortgages / house hunt during Covid-19?

Kendrah
4 years ago
last modified: 4 years ago

First off: I'm at high risk so would be doing all of this work online, nothing in person at all for now. I take social distancing extremely seriously.

My husband and I have had a long term plan to move to NYC and have become more so eager over the last few months. We are in an incredibly lucky financial situation in that we can easily afford a small condo/co-op and have never had a problem getting mortgages from the bank that our family has used for generations.

I'm thinking about getting pre-approved for a mortgage and talking to some realtors on the phone so that when it seems safe to physically condo/co-op hunt we are ready to do so. We currently own a home that we would want to sell too, however, buying a new place in NYC is not contingent on selling our current home immediately.

Should we just put all of our plans on hold while we see over the next 6-months how the market unfolds? Or is there no harm in just taking steps to move ahead?

We are in our mid to late 40s, have no kids, and flexible jobs. We have both suffered a lot of extremely serious health crises, one very recently, which is admittedly fueling our carpe diem mentality. We have plenty of money for retirement to afford to make some risky financial decisions, but we don't want to be entirely crazy or flat out stupid!

Please advise.

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