Home / Daily Dose / This Factor Is Keeping Many Homeowners From Moving
Print This Post Print This Post

This Factor Is Keeping Many Homeowners From Moving

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.

About Author: Alison Rich

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.

Check Also

Federal Reserve Holds Rates Steady Moving Into the New Year

The Federal Reserve’s Federal Open Market Committee again chose that no action is better than changing rates as the economy begins to stabilize.