To move or not to move? That is the question…
A recent study conducted by Homes.com found that 50% of Americans haven’t moved in the last 10 years. Of those that have moved more than five times in 10 years, the overwhelming majority are millennials in the 25-34 age bracket. So what’s holding the rest of the population back?
Moving can sometimes feel like a financial burden, and women were 35% more likely than men to say that moving was a financial stressor. It is extremely important to budget in order to better facilitate the moving process and avoid any potential surprises. 57.4% of female respondents and 42.6% of male respondents reported that their last move felt like a squeeze on their wallet.
Many Americans receive help from family and friends to help them move. Interestingly, those that expressed that moving was a financial burden were those that “dumped their stuff” and started over in a new home. However, of those who moved all by themselves, 67% said the move didn’t feel like a stress on their purse strings.
People are often asked to relocate from a smaller town to a bigger city for work or school. When asked which major city they would most like to move to this year, 40% of respondents selected Denver, Colorado! Colorado is the second fastest growing state in the United States. Miami, Florida came in second place with 22% of Americans saying they’d be open to moving there. Chicago, Illinois and New York City tied for last place with survey respondents, both with just 7 percent of the votes. However, wherever you choose to go, a move to a different city can serve as the catalyst you need to kick your life into a higher gear!
While most moves seem to be a result of work relocation or a better neighborhood for the family, a noteworthy percentage of people reported moving for love. A change in marital or relationship status was the reported reason for a move among 10% of Americans. For better or for worse, big changes in a relationship can mean a move is imminent.
This study shined a light on moving trends among Americans in 2017. While some of the findings were to be expected, we were surprised by a number of the results. Let us know in the comments below what you found surprising!