Why Are You Moving: The Reasons Behind Housing Mobility
If you’ve ever moved house, and most people have moved at least once in their life, you’ll fully appreciate what a mammoth task it can be and one that most people definitely don’t look forward to doing too often. But many Australians do move regularly with a 2007-2008 survey of housing mobility conducted by the Australian Bureau of Statistics, revealing that a massive 43% of Australians had moved in the previous five years.
If you are considering selling your residential property or you’re looking for tenants for your investment property – you’ll be encouraged that there are plenty of people out there who are interested in making the move.
But why are they doing it? What are the reasons for all these moves and how can this knowledge assist you?
Moving Through the Ages
In general, there are numerous reasons that people choose to or are required to move house. These include wanting to upsize or downsize, changes in financial circumstances both positive and negative, changes in their family or household makeup, education requirements, career and work prospects, changes in relationship status or when it comes to the young, perhaps just restlessness!
Knowing who moves for what reasons can assist you when selling or tenanting, as it may give you some insight into how you should decorate or style your property to attract the key market and if you are handling your own marketing, how to create the advertisements.
If you are wanting to attract the older market, consider that their reasons for moving may be quite serious such health concerns or the death of a spouse or simply a result of dependent children flying the nest. Keep these issues in mind when in conversation with potential buyers and renters so you can cover some of their concerns when highlighting the attributes of your property. Older people may be looking for close proximity to health and community facilities, perhaps a lifestyle change with access to city-style attractions and easy level access to and within the property. Styling a multi-level property with a load of stairs for the older market, is probably not the right move.
Those in their late 20s and 30s often move to pursue career and work opportunities while households of young families will often be on the lookout for a larger home to accompany a growing brood or to be closer to schools and recreational facilities.
Money and Marriage
Marriage and relationship breakdown is unfortunately a fact of life and a key reason for many sole parents with dependent children having to make a move. Money also factors into the decision-making process for many people.
On the positive side, the financially fortunate may be looking to upsize and highlighting the quality attributes of your property may be a winning strategy. For those in the more disadvantaged group, financial issues actually represent a barrier to moving. If you’ve ever moved, you’ll recall how costs can quickly add up.
Overall, there can be many reasons behind a move and taking the possibilities into consideration can prove beneficial to you as seller or landlord.