If you are planning on moving, you are not alone. Nowadays, a lot of people are still moving homes. It is because of a variety of reasons. Some have to do with money and changing careers and others who have changed the family unit and personal relationships. You should think about your motivations for moving and how significant they are to you. They will eventually help you make wise decisions. Even though home prices and mortgage rates are higher, you shouldn’t halt your plans based on market conditions. So, here are reasons why people think it’s best to move.
1. Need for Bigger Space
According to a U.S Census Bureau study, about half of those who move do so because their previous residence no longer meets their needs. Outgrowing a house is nothing new since many families find that their old homes are no longer adequate. Therefore, moving to a larger home is your best option if you discover that yours is lacking in space.
2. An Urge to be Nearer to Loved Ones
Every year, United Van Lines, a moving and storage company, conducts a customer survey to better understand the reasons people move. And according to the most recent survey, nearly 32% of people relocated to be nearer to loved ones. We can see that the want to stick close to what and who you know is fairly common. Just 15% of the more than 32 million moves made in the U.S. in 2019 were interstate, for instance, suggesting that most movers stuck to familiar areas.
3. The Desire to Live in Cities with Lower Housing Costs
The survey revealed that people were moving to regions with lower cost of living. It was based on average home price data from Realtor.com. They chose to move to more affordable and livable areas. Also, it stands to reason that you would want more for your money if you were moving anyhow.
“Affordability is still very much front and center… a lot of what’s available is outside of the price range of many buyers… so they look elsewhere for a little more bang for the buck.” – Hannah Jones, Economics Data Analyst at Realtor.com
The Bottom Line
People choose to relocate for a variety of reasons. whatever the case may be. If your requirements have changed, it would be best for you to think about moving. And if you need help, reach out to your trusted local expert to help you navigate today’s housing market.
What To Do:
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