1 in 3 Buyers Willing to Risk COVID-19 Exposure
NEW YORK – In a recent survey by Helitech, a foundation repair company, 37% of 980 buyers said they’d “risk COVID-19 exposure to obtain my dream home.” The consumers surveyed either were in the market to move, started their plan to move prior to the pandemic, or recently purchased a home.
But even buyers ready to conduct a house hunt don’t need to risk their health. The real estate industry has instituted several health and safety protocols since the pandemic, including more virtual tours and virtual open houses, as well as social distancing measures during tours and closings. Some brokerages also require buyers to sign disclosure forms prior to touring a home in person. Those forms verify that the person does not have a fever and will maintain social distancing precautions during the tour.
Most survey respondents said they prefer to see a home they intend to buy in person rather than virtually, but a large percentage are still willing to entertain making sight-unseen offers. Nearly 57% of consumers aren’t willing to purchase a home without seeing it in person, but almost 35% said they would.
Some respondents wished they’d waited: 54% of respondents said they would have gotten a better mortgage rate, which have fallen to all-time lows during the pandemic.
Source: “How Has the Global Pandemic Affected the Housing Market?” Helitech (2020)
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