A survey by RESimpli of 1,200 respondents highlights shifts in the mortgage market as homebuyers consider 2025 purchases. 73% of respondents are ready to extend mortgage terms for lower payments, with high home prices (45%) and rising rates (25%) as primary concerns. Notably, 80% are open to homes needing significant renovations, reflecting a struggle to find affordable properties. Despite the willingness to invest in renovations, 64% remain pessimistic about market access in 2025, anticipating increased challenges in home buying.
According to the survey, nearly 73% of surveyed mortgage borrowers were willing to extend their mortgage terms to lower their monthly payments.
Consumers also said they were willing to tackle renovation costs if it meant achieving homeownership, according to the survey.
RESimpli found that 80% of respondents are open to purchasing a home that requires significant renovation.
Most of the survey's respondents were pessimistic about the housing market in 2025, with 64% believing that a home purchase would be more difficult.
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