What Motivates a Move?
Research shows that people buy a new home, on average, every seven to nine years. One in three U.S. households plan to move in the next five years. What is motivating most people to move?
According to a survey by The Demand Institute, most of the reasons boil down to location-related motives. In fact 47 percent of those surveyed said “location where I live is more important than the home itself.” Dig in a little in to what encompasses “location” and you find:
- 30 percent want to move for a safer neighborhood
- 27 percent to be close to family
- 26 percent prefer a change of climate
- 25 percent want to be closer to work
- 23 percent move because they have a new job that requires it
Where are they going? More than half – 59 percent – of movers stay within 30 miles of their previous home and only 26 percent move out of state entirely.
A few years ago local REALTORS® did a region-wide study with the Indianapolis Metropolitan Planning Organization (MPO) to look at what factors central Indiana residents consider most important when making their housing decisions. Once people have decided to move, the study found the top three considerations are:
- access to high quality schools
What motivates you?
Sources: REALTOR® Magazine, The Demand Institute, Metropolitan Indianapolis Board of REALTORS® (MIBOR) and the Indianapolis Metropolitan Planning Organization (MPO) Community Preference Survey.