People move home for a variety of reasons, which will differ based on whether they rent or own. If you’re looking to let or sell your home, understanding the market will help you throughout the process. Here are some key factors that can lead to a move.
Going Bigger
As we get older, our family may well grow, from being just one person to perhaps a household of four, five or even more. We would also hope to be more financially solvent as we age, with significantly more earnings aged 45 than we earned aged 25. For both these reasons, many people move house in order to ‘upscale’. ‘Upscaling’ will depend on location and on how much money you actually have to spend, but in the Sutton Coldfield area, it may well mean moving from a 2 bedroom semi to a 4 bed detached, or perhaps from a flat to a two-bedder.
Downsizing
Sometimes it goes the other way and for many reasons, homeowners are actually downsizing. This is when they want a house that is smaller and worth less than the one they are currently in. This may happen when a there is a divorce and the couple needs to divide their assets in two. It may also happen to empty nesters when a large family home is no longer required and it makes sense to release some of the equity by getting a smaller value home.
New Job, New School
Sometimes people move because they get a new job and they simply want to be closer to it. On some occasions, parents move to be nearer a certain school such as one that has an ‘outstanding’ Ofsted report.
Why Renters Move
Renters may move for a myriad of reasons, perhaps because they can afford more rent on a larger property, or perhaps because the landlord wants to sell and they have no choice. Renters may also move because of a new job or a new school, or perhaps because they are ready to buy their own home. At Belvoir Sutton Coldfield we constantly connect the right tenants to the right landlords.
Whatever the reason that you’re thinking about moving from, to or within the Sutton Coldfield area, contact us today for help and advice.
