The COVID-19 pandemic has affected our lives drastically. Every industry suffered drastically during the pandemic. Real estate is not also different from other industry conditions. Therefore, the Real Estate industry adopted digital solutions for the promotion and marketing of properties.
With the introduction of 360 virtual home tours, it is now easier for real estate businesses to provide a better glimpse of the property to their potential customers. Customers can search for homes virtually while. With Virtual reality, it is possible to see the interiors as well as exteriors of a property. Prospective buyers can now visit many properties online without leaving their homes. 360 Virtual Home tours are making the house-hunting process safe during the pandemic.
What is a Virtual Tour?
It is a three-dimensional, 360-degree walkthrough rendering an impression of the property’s size and space. To enjoy the virtual tour an individual will use a virtual reality (VR) headset. Also, Aerial views of a property are provided by the augmented reality solution.
Boost of Virtual House Hunt During Pandemic
The implementation of digital technologies in real estate began several years ago but the implementation increased significantly since the outbreak of COVID-19 in the year 2020. The 360 virtual home tours can be prepared by using images utilising the real estate panorama editing services, in the form of complete video or sometimes streaming 360-degree live videos.
What is Image Stitching In A Panorama?
It refers to the process of combining multiple images with overlapping fields of view to produce a segmented panorama or high-resolution image to be used for 360-degree images or some 360 virtual tours.
Benefits of virtual house hunting
· Developers increased the use of virtual technologies to demonstrate the properties to potential buyers without requiring them to visit in person for inspection. A virtual tour is usually conducted before an in-person visit.
· The 360 virtual home tours assist a customer’s decision-making on whether to invest in visiting the site.
· In addition, the websites and other online platforms elaborate on the project details related to the building, apartment, and floor plans. Also, this platform provides online booking, real-time video communications, and virtual tours.
Points To Keep In Mind While Virtual Tours Of Property
· A home should be a place where people can feel safe, and comfortable, and connect with their loved ones. Make a list of must-have features for the house and set a budget for the purchase. Make sure the project is located near schools, offices, train stations, and bus stops, among other factors.
· “As a family, discuss and decide on the requirements for space, price, type, location, developer, and so on. Everything is glamorous in a virtual tour. So, go over their product brochure and product details to get a sense of what they have to offer. You need to examine whether the floor plan, amenities, and family needs of the developer meet your needs. Before signing the contract, get a good sense of the neighbourhood and read through the disclosures and terms and conditions. There is no doubt that technology is useful and simplifies our lives, but be cautious of what you purchase.
· Aside from ready-to-move-in properties, virtual house hunting is also useful for under-construction properties, where projects can be viewed and transactions can be completed online. Buyers can be kept up to date with videos (with the date and time of recording) of the project’s construction status, excavation pictures if the project is in its early stages of construction, and photos and videos of amenities, spaces, recreation areas, lobby, and so on if the project is completed.
Challenges Faced In 360 Virtual Home Tour
· It is difficult to accurately understand the natural light or ventilation in the house.
· If it is a resale apartment or a furnished house, one cannot check the quality of furniture and fixtures online.
· One cannot get a feel of the neighbourhood through virtual mediums. In most cases, decisions depend on information gathered from neighbours and building information.
· The entire transaction cannot be completed online, as one still needs to visit the site and interact with the sales and customer service teams or the seller.
· Clients usually are hesitant to build complete faith with virtual tours because they value the personal touch.
· Buyers always prefer to physically inspect a resale or new property before making a final decision to purchase the property.
Point To Remember While Virtual House Hunting
· A Buyer should always request a live virtual home tour instead of pre-recorded tours. Check for cracks, leaks, and traffic noise, especially in the bathrooms, kitchen, flooring, and walls.
· Use only reputable real estate websites. Find the perfect location and an estimate of the price in the area, and it is recommended to do thorough research.
· The area’s connectivity, distance to the workplace, availability of transportation, nearest amenities such as hospitals, schools, shops, and the safety of the area, particularly at night are important parts of the inspection.
· Use 360 virtual home tours as a first step in the home-buying process. But remember to make a final decision only after physical inspections of the property.
· It is also vital to examine the property’s legal documents’ authenticity. Check every detail related to the title, approvals, and certifications. Hire a reputed legal agency to help in this matter to verify whether the documents are original.
We understood from the above article how real estate panorama editing services and 360 virtual home tours enable buyers in the pandemic years to purchase property without risking their health and safety. Virtual home hunting has also benefited the buyers as they can inspect the property without wasting their time and energy by physically visiting the site to just inspect whether the property is suitable or not to purchase.
Real estate businesses also benefited from the 360 virtual home tour as it helped them to solve the crisis of idle market situation. In the coming years, virtual tours will benefit many businesses and prospective buyers to check the property.