This Factor Is Keeping Many Homeowners From Moving

first_img Alison Rich has a long-time tenure in the writing and editing realm, touting an impressive body of work that has been featured in local and national consumer and trade publications spanning industries and audiences. She has worked for DS News and MReport magazines—both in print and online—since they launched. Home / Daily Dose / This Factor Is Keeping Many Homeowners From Moving Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago About Author: Alison Rich Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Share Savecenter_img in Daily Dose, Featured, Journal, Market Studies, News Related Articles Homebuyers Homeowners Homeownership Moving SpareFoot 2018-04-27 Alison Rich  Print This Post April 27, 2018 1,585 Views Previous: The Worst Home Markets for Millennials Next: Can Tiny Homes Help Combat Affordability Issues? Tagged with: Homebuyers Homeowners Homeownership Moving SpareFoot Servicers Navigate the Post-Pandemic World 2 days ago From the aggravation of purging and packing to the annoyance of scheduling and transporting belongings from point A to B, the process of moving can sometimes be rife with frustrations. According to a survey conducted by SpareFoot, an online self-storage marketplace, nearly two-thirds of those surveyed said they would consider moving if not for the hassles involved.The company surveyed more than 1,000 Americans adults to gauge a clearer understanding of how and why consumers are moving. Although 46 percent said they had moved recently or planned on moving in the next year, 67 percent said they would definitely or probably move if the process were easier and less anxiety-ridden, SpareFoot reported.Additional data serves to underscore that sentiment: The headaches associated with a move have left 66 percent of respondents feeling stuck in a home they don’t like, while 49 percent have reported tolerating a bad roommate simply to avoid a move. Millennials and Gen Z’ers are less likely to turn the other cheek, however, with nearly one-third, or 32 percent, saying they have moved in the past year, compared with a mere 15 percent of the general populace.As for why people have moved, the reasons vary. Thirty-seven percent reported moving in order to find more affordable housing, 28 percent said they had moved for a job, 19 percent cited a desire to flee an undesirable neighbor, and 13 percent reported moving in search of a home that could better accommodate their pets, SpareFoot says. A majority said the best thing about moving was having a “fresh clean space,” the company noted.Of course, there is more than just inconvenience and anxiety compelling some homeowners to stay put where they are. The housing market has been defined in recent months by skyrocketing home prices, insufficient housing inventory, and gradually increasing interest rates. While homebuyer demand remains strong, finding that dream home can definitely be more complicated these days.Echoing the SpareFoot survey results, a recent Bankrate survey found that 62 percent of surveyed homeowners said they had no plans to move out of their current home, whereas 30 percent said they planned to move sometime within a decade. Breaking it down further, 21 percent said they planned to move within 0-5 years, 14 percent said they planned to move within 6-20 years, and just 3 percent said they planned to move, but not for more than 20 years. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago This Factor Is Keeping Many Homeowners From Moving Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more