Technology has changed how we do many day-to-day activities. Everything from eating to shopping to travelling has been made easier by the rapid advances in tech over the past decade.
And unsurprisingly it’s also beginning to shape how we go about purchasing property, with a recent survey suggesting that over 50% of prospective homebuyers start their search online.
While homebuyers of the past were stuck thumbing through newspapers or visiting estate agents when searching for a home, prospective buyers can now jump online and check out thousands of properties in the blink of an eye.
Using the advanced search tools that feature on most property sites means you can tailor a search to your exact needs, from price range to number of bedrooms.
If you’re purchasing property overseas, being able to look through foreign listings online without having to be in the country can save you a lot of time and effort!
When it comes to purchasing a home abroad, one of the most difficult parts of the process is often navigating the language barrier, which can slow down a transaction and even lead to costly mistakes.
Thankfully, however, Google recently released its new Pixel earbuds. The unique selling point of these new wireless earphones is that they can translate 40 different languages in real time when used in conjunction with a Pixel smartphone.
While many estate agents will have someone bilingual on staff who may negate the need for such translation, the buds will likely make it a lot easier for you to go through private sellers, where the likelihood of a seller speaking English greatly diminishes.
Straightforward currency transfers
If you’re looking to purchase a property overseas, it’s important to consider how you plan to transfer your money to complete the purchase.
By using a reputable currency broker like Currencies Direct you can avoid transfer fees, secure a better exchange rate and benefit from services like being able to make 24/7 currency transfers online or through a dedicated app.
Currencies Direct also provide the option of fixing an exchange rate for up to a year with a forward contract, giving you plenty of time to complete your property purchase without worrying about the exchange rate falling suddenly during the process.
While virtual reality is still a bit of an emerging technology, some real estate companies are already beginning to experiment with it to help potential buyers check out a property remotely.
Taiwanese real estate firm Yungching Reality Group has already begun trialling the technology by allowing prospective buyers to virtually visit homes along the popular Fujin Street in Taipei and even take a stroll to check out neighbouring shops and restaurants.
While it looks like we’re still some way off virtual reality being common place, with the ability to allow estate agents to even showcase homes still under development, being able to wander around a property halfway across the world could soon become a reality.
With technology advancing at an unrelenting pace in recent years there are likely to be a number of innovations over the next few years that could make even bigger changes to way in which property is purchased.