With the weather getting warmer, property market activity tends to see a rise, as many look to get the home move done and dusted before their holiday or before the kids have to go back to school.
Whether you’re looking to upgrade, downsize, start a family or start a new career, a new survey has found that we Brits move home for a wide variety of reasons, but which is most common? The AA looks to answer this question after conducting a study to discover the most popular reasons for a change in location.
The research found that the most common reason for packing all of our stuff into boxes is due to a change of job, with almost one in four respondents (23%) stating that they were moving to a location closer to their new role.
As expected, the area in which the home is located holds great importance for homeowners, with 12% simply wanting to freshen things up with a change of scenery and another 11% looking to leave their current area as they’re not overly keen on their surroundings.
Some of the other top reasons for moving home was the 10% that wanted to live closer to their family and the same amount of survey participants that were looking for a quieter life in the countryside.
Also making the list was the 7% that felt they’d be better off in a smaller home, the 4% moving because of marriage or divorce and a further 3% that believed they could turn a profit from the transaction.
The survey also found that depending on the age group there are some differences. The younger demographic (18-24) had a strong focus on their careers and affordability, while the 25-34-year-olds desired a larger home for family life. Those approaching retirement age (55+) were looking to fund their later years by downsizing, but also wanting to be as close to family as possible.
Director of Financial Services at AA – David Searle – commented “From a legacy of endless daytime TV shows, one can get the impression that buying and selling homes is just about making a quick profit on a property transaction. Our research puts this to rest as, beyond doubt, the reasons why and when people move are based on jobs, children, family connections and quality of life. A house is, after all, a home.”
Whilst decisions about when to move are not really about money, the realities of running a family home often are. Our survey shows many people are concerned about how far their pay packet will stretch and being smart in making their disposable income go further”.
