Impacts of Coronavirus
The COVID-19 pandemic has impacted everyone in many different ways. From having to quarantine, working from home, schooling from home, workouts from home, it’s easy to say that people are spending more time in their homes. This has led many people to wanting a home with more space or designated areas for certain activities. We have gathered some statistics on this topic.
Changes in Planning to Buy a Home
Three-quarters of homebuyers who plan to buy a home within the next 12 months say the coronavirus pandemic has impacted their home buying plans: 25% said it caused them to move or speed up their timeline, 20% said it caused them to delay moving plans and 17% are now looking for a less expensive home. Specifically:
- 16% said the pandemic has caused them to want to move
- 15% said it caused them to move sooner than originally planned
- 6% chose both options
Home Preference Changes
- 21% want a designated area to work from home
- 21% want more outdoor space
- 10% of respondents now want a bigger home
- 7% want a designated space for children to learn from home
Why Changed Plans?
- Of people planning to move, 55% said low mortgage rates are a factor in their changed plans
- 52% said spending more time at home is a factor
- 40% said working from home contributed to their desire to move
If the Coronavirus pandemic has caused your family to be spending more time at home and you’re now thinking about looking for a home with more space, Rountree Realty is always here to answer any questions you may have and help achieve your real estate goals during these crazy times.