0
0
0

Bigger is better in coronavirus era, but buyers also want affordable

by Noah Tennant

Homebuyers across the country are increasingly interested in homes with outdoor features, larger bedrooms and less open floor plans, according to a new report from online real estate marketplace Point2.

The report looks at the past five months of search behavior on the Point2 website to compare the priorities of home seekers before and during pandemic lockdowns and social distancing.

Homebuyers appear willing to pay more for larger homes. However, searches for homes under 1,000 square feet have increased from 10% to 22%, with those in the 1,000 – 2,000 sq ft range dropping from 57% to 44%. Point2 explains that these disparities show how the pandemic has affected buyers in two different ways. Some are looking for larger houses as they spend almost all their time at home, while others are financially affected by the pandemic and are now looking for smaller homes to prevent or solve financial troubles.

In Boston, home seekers have become more interested in homes than condos, with home searches up from 37% to 56%. Homes in the $200,000 to $300,000 range have also seen a large increase from 6% to 18%, respectively. Point2 attributes this change to buyers seeking bigger and larger residences as they spend much more time at home.

Read More Related to This Post

Join the conversation

Oops! We could not locate your form.