Phil Spencer has some reassuring property advice for dealing with Coronavirus that you need to hear

Use this time wisely
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  • If you feel stuck in limbo as a seller, buyer or tenant, Phil Spencer shared some property advice for dealing with Coronavirus that will hopefully put your minds at ease.

    Related: What impact will coronavirus have on the housing market? Here’s what the experts are saying…

    The property expert who would usually have his time full with a busy filming schedule  took to his property website, Move IQ, to share a few words of advice. Speaking about the major rise in activity levels in the housing market before the pandemic, he offered some cautionary optimism.

    Phil Spencer’s property advice for dealing with Coronavirus

    property advice for dealing with Covid-19 1

    Image credit: Steve Paston/PA Archive/PA Images

    ‘Due to the increased activity earlier in the year, we must presume people’s original motivation to buy, sell, move etc still remains as was,’ he reassured readers. ‘And therefore once the madness has passed, whenever that maybe, that same level of activity will return.’

    ‘That being said – there will be plenty of people whose lives, jobs, businesses and savings will be dramatically affected in the interim,’ he added. ‘We are all in this together, and while individual decisions are personal to people’s own unique situations – tough decisions are being faced.’

    He continued by offering a couple of nuggets of wisdom to tenants, homebuyers and sellers at this time.

    Phil Spencer’s advice for tenants

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    Image credit: Colin Poole

    ‘For any tenants who are, or shortly expect to be, unable to pay the rent. Begin conversations early,’ he advised. ‘Talk to your landlord or your letting agent as soon as possible, it’s important to do this as far in advance as you can before the problems really hit home.’

    ‘It’s vital to have an open and honest dialogue,’ he adds. ‘Don’t wait until you can’t pay.’

    Phil Spencer’s advice for homebuyers

    The property experts advice for homebuyers was the simplest. In line with the government’s advice, he advised cancelling all appointments and waiting until things settle down.

    Property advice for covid-19 3

    Image credit: Colin Poole

    Phil Spencer’s advice for sellers

    To anyone looking to sell there house, Phil suggested taking this time to make sure your home is in tip top-selling order.

    ‘Write a list of all the jobs you’ve been putting off for too long and get cracking,’ he writes. ‘Once the world settles down and people feel like moving around it once again – it’s going to be more crucial than ever to ensure your house stands out from the crowd.’

    As Phil says, this might be a time of uncertainty and tough decisions. However, use the time to plan your future house hunt or get your house ready to sell.

    Related: 32 Easy DIY projects and fun makes to do during the coronavirus lockdown for every room in the house!

    All these steps will put you in the best possible position when we come out the other end of this.

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