Nearly Half of Americans Would Burst Their Budget for a 'Lucky' Home

Rhea-AI Summary

A recent LendingTree survey reveals that superstitions significantly influence American homebuyers. About 38% have skipped home purchases due to superstitious beliefs, with 51% being men. Additionally, 39% refuse to buy homes near cemeteries, and 32% would avoid homes with unlucky street numbers. Alarmingly, 47% of buyers would exceed their budget for a "lucky" property, averaging $38,000 over their target price. Moreover, 43% of former sellers faced challenges selling to superstitious buyers.

Positive

• Increased consumer awareness about the influence of personal beliefs on homebuying, potentially leading to tailored marketing strategies by LendingTree.

Negative

• A significant portion of homebuyers may avoid listings due to superstitions, which could restrict sales for sellers.
• The tendency to exceed budgets for perceived 'lucky' homes could indicate a volatile market dynamic.

CHARLOTTE, N.C., March 17, 2021 /PRNewswire/ -- A new LendingTree survey finds that many Americans may let luck or superstition influence their homebuying behaviors. In fact, nearly 4 in 10 said "I'll pass" on a home and had a superstitious explanation for that decision.

Key findings

• More than a third (38%) of Americans have decided against buying a home because of a superstition.
• Men are more likely than women — 51% versus 27%, respectively — to skip out on a home purchase for superstitious reasons.
• Nearly 4 in 10 (39%) homebuyers refuse to live next to a cemetery.
• Another 32% would skip out on buying a home with an unlucky street number, and 30% wouldn't buy a house if the previous owners experienced a tragedy, such as death.
• Almost half (47%) of homebuyers would ignore their budget for a "lucky" house.
• On average, survey respondents are willing to go at least $38,000 above their target home price.
• More than 4 in 10 (43%) survey respondents who reported being previous home sellers said they have had difficulties selling their home, thanks to superstitious buyers.

For the full survey report, please visit: https://www.lendingtree.com/home/mortgage/homebuying-luck-survey/.

About LendingTree 
LendingTree (NASDAQ: TREE) is the nation's leading online marketplace that connects consumers with the choices they need to be confident in their financial decisions. LendingTree empowers consumers to shop for financial services the same way they would shop for airline tickets or hotel stays, comparing multiple offers from a nationwide network of over 500 partners in one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, mortgage refinances, auto loans, personal loans, business loans, student loans, insurance, credit cards and more. Through the My LendingTree platform, consumers receive free credit scores, credit monitoring and recommendations to improve credit health. My LendingTree proactively compares consumers' credit accounts against offers on our network and notifies consumers when there is an opportunity to save money. In short, LendingTree's purpose is to help simplify financial decisions for life's meaningful moments through choice, education and support. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.

MEDIA CONTACT: 
Stacia Werksma 
Stacia@lendingtreenews.com

 

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SOURCE LendingTree.com

FAQ

What percentage of Americans let superstitions affect their homebuying decisions?

According to the LendingTree survey, 38% of Americans have decided against buying a home due to superstitions.

How do superstitions affect homebuyers' choices according to the LendingTree survey?

The survey found that 39% of homebuyers refuse to live next to a cemetery, and 32% would skip homes with unlucky street numbers.

What financial impact do superstitions have on homebuyers?

Nearly 47% of homebuyers would ignore their budget for a 'lucky' house, willing to pay an average of $38,000 above their target home price.

How do superstitions influence sellers in the housing market?

Over 43% of previous sellers reported difficulties selling their homes due to superstitious buyers.