Many of us dream of having a home in Hawaii, but brush it off as an unattainable fantasy. The truth of the matter, though, is that buying property in The Aloha State can be a smart investment. You can gain passive cash flow from renting it out to local families or tourists. What’s more, new technologies are making it easier than ever to view and purchase island properties from anywhere in the world with ease. In fact, over 25% of homes sold in Hawaii are purchased by buyers located on the U.S. mainland or in foreign countries. Here are some ways that technological advancements are helping to revolutionize real estate in Hawaii.
Take a Virtual Tour
Once upon a time, you had to visit a property if you wanted to check it out. Nowadays, though, you can hop online and check out a 360-degree virtual tour of homes for sale. These 3D tours use interior mapping cameras to create an immersive image of a property, allowing prospective buyers to “walk” from room to room and outside. This gives you a much better sense of a home than simply looking at still photographs.
Find the Best Agent
It can be tough to track down a skilled real estate agent when you’re living overseas, but luckily, new technology is making it easy to connect with professionals online. You can communicate instantly by text or voice chat, or even communicate face-to-face using video conferencing software. It also helps to look at online reviews posted by former clients. These firsthand accounts give you an honest insight into how a real estate agent functions and help you decide if they’re the right choice for you.
Explore the Surrounding Area
When buying a house, many people solely focus on the floor plan and the landscaping. Too often, families neglect to check out the surrounding neighborhood. Slovenly neighbors, high road traffic, and noise issues can all lower the property value of a house. Nowadays, it’s easy to explore any neighborhood from the comfort of your living room using apps such as Google Maps. You can see what the area around a property looks like and find out more information about nearby businesses.
Compare Mortgages in an Instant
Comparing housing prices used to be just as inconvenient as viewing a property. You’d have to spend time shopping around to see which bank or private lender would give you the best interest on a mortgage. Nowadays, though, online mortgage calculators and mobile apps can do this for you instead, letting you know what rates you’re eligible for based on your debt, income, and assets. This speeds up the application process and allows overseas buyers to deal with local lenders more easily.
New technologies are making it easier than ever for overseas investors to buy homes in Hawaii. Not only can you see prospective properties from every angle, but you can also find the best app or agent to help you handle the legal and financial side of things. As our online tech continues to advance, we can expect to see further improvements to the home buying process, opening the market up to even more investment opportunities.