What the JHC has realised about the housing market during the pandemic

The recent pandemic has caused a global shift where people and businesses have had to adapt to a new way of living. Many businesses had to close their doors while others had to find innovative ways to continue working in these difficult times. People lost their jobs while others gained new work experience. However, what has been on people’s minds is how will the housing market be affected by the pandemic.

As a housing company, we have seen the shift and how the pandemic has affected the housing market today and what that means for our potential tenants. To find out more, continue reading.

People are still buying houses

While this may be a shock for all, some people are still buying houses in the current climate. This is because it remains one of the best times in the last decade for people to invest in property. While there has always been an ongoing discussion about whether you should buy a house or opt to find an affordable flat to rent, it is impossible not to notice the benefits of buying a home now. According to Business Tech, this is the best time in decades to purchase property, and the main reason is that the market has reached a five-decade low interest rate, which currently allows you to save 30 per cent on borrowing costs. Plus, lenders are keen at the moment to offer finance to first-time buyers. However, as beneficial as it is to buy a house right now, it is still advisable to do your homework and inspect the property as well as their finances before they enter a big commitment. While the cost of borrowing is low, it is still advisable for you to rent a flat rather than buying a house if you are experiencing financial hardships during this time.

People are looking for affordable housing

Some people are fortunate enough to purchase a house now rather than waiting to see post-pandemic how the housing market will be. But some people are in a difficult situation where they find themselves looking for affordable housing in Johannesburg as one of our residences. This is because they have either gotten a pay cut or their significant other or roommate is no longer working, and they have to find ways to cut back on their housing expenses. The JHC is a much more affordable option with a strong community base that has helped many individuals settle even during this time. This, of course, has also been beneficial to us and has helped us continue to support and care for our tenants.

Rental properties are still popular

Apart from people still looking for affordable flats to rent in Johannesburg, rental properties are still popular. This is mainly due to the lockdown restrictions and people in need of their own space. Since many people are working from home, staying in overcrowded family homes has proven impossible and has potentially given people the push to find their own place to rent. With affordable housing options at JHC, people can move out and get their own space where they can work from home peacefully while ensuring that they do not overexert themselves or push themselves in a difficult situation. Our residences have various room sizes that are suitable for many people and can become an affordable option for them.

Technology is the new norm

The pandemic has forced us to change and adapt to a new normal. For instance, while we may have relied on in-person viewing in the past, we have had to use technology to our advantage and still showcase to potential tenants what we have to offer. While we are normally always happy to answer questions in person, we have needed to find new ways to communicate and answer important questions tenants need to know due to social distancing. This is why we have a news page where you can find the latest on housing and anything JHC related to help you make informed decisions on your moving process. This has helped keep potential tenants in the loop and keep them informed on what they need to know.

Final thoughts

These are tough times that no one could have predicted, and things are changing. As a company, we realise the changes happening, and we are working towards ensuring that this doesn’t negatively impact us but rather helps us grow as a community. At JHC, we strongly believe in tackling housing challenges across Johannesburg while also ensuring that we build a neighbourhood that always puts our tenants first. This is clear as we have various tenants, from senior citizens, families, single parents, professionals, students and more. So, if you are looking for a place to rent in these present times, contact us today, and we will make your move as simple and stress-free as possible.