A new survey has found more than three-quarters of Americans are willing to buy a home even if the property or the surrounding area is less than desirable.
The survey of 1,000 adults by Clever Real Estate found 57% of respondents would not consider mold to be a dealbreaker on a home purchase, while 49% were willing to overlook the presence of hazardous materials and 45% could tolerate structural issues. The survey found 63% of respondents would buy in an area with a high risk of natural disasters and 50% would buy in an area with high or increasing crime.
Furthermore, the survey found more buyers would be willing to overlook having a registered sex offender (14%) living nearby rather than a generally unpleasant neighbor (12%). Only 12% of respondents claimed they would walk away from a sale immediately if they discovered a major flaw in the home.
But that’s not to say that today’s buyers are too easy to please. The vast majority of respondents said they would not consider purchasing a home on the same street as a long-term construction project (93%), factory or power plant (93%), prison or jail (92%), or shooting range (91%).
And while the median home sale price is slightly above $400,000, nearly two-thirds (63%) of buyers say the maximum price they could afford is under $400,000. Nonetheless, there are more than a few buyers who would overlook a home’s flaws for a discount (38%) or if the seller offered repair credits (29%) or included a home warranty in the sale (29%).
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