Have you noticed that so much of the talk about the property market recently has involved low interest rates, rising property values and housing affordability? Many people make the mistake of assuming that most decisions to move house are driven by financial factors, but this is not really correct.
Money is not the only reason to move house
Sure, monetary considerations certainly play a role in many property decisions. However, in our experience at Ian Reid’s Vendor Advocacy Australia, when you look at the reasons behind the decision to sell your own home and move on, money usually ranks well behind a couple of far more human motivations. In fact, the large majority of home sales occur for one of three basic reasons.
Growing families are a reason to move house
One a couple buys their first home, for many the next major event in that family’s life will involve an expansion in numbers. The addition of children, pets or even the decision to work from home can create a need for extra space. These are often the reasons that first home buyers become second home buyers, then third home buyers, and so on.
Shrinking families tend to move house too
Of course, the expansion of the family mentioned above can’t last forever, (well, we hope not). And apart from the trend of older children returning to the nest, in most cases there comes a time when the “empty nest” and the associated upkeep becomes impractical as we get older. For the downsizers, bigger is no longer better, hence the urge to take our property priorities in the opposite direction.
Changing needs often means changing address
Isn’t interesting that that the things we used to take for granted change as time goes by? The lengthy commute we were prepared to undertake each day when we moved into our first home becomes more challenging over time. As our family grows, our priorities change from access to cafes to access to schools. We change jobs, or even careers, or perhaps want to change location as a reflection of changes in aspirations and status. No matter how it comes about, the urge to live in a different postcode or school zone is clearly a major player in the minds of many people who decide to move house.
Good advice can make the difference
No matter what the reasons may be behind your decision to move house, the team at Vendor Advocacy Australia are experts in providing objective advice on the “where, when and how” of your move. In fact, one easy way to avoid some of the traps when moving house can be found in our booklet, “Fatal Real Estate Traps Exposed”, and it’s free! So, be sure to get your own copy while you’re here?