How long do you plan to be in your home? It is an interesting question. Some people look for their forever home. Others see it as a stop-gap. Some see their property purchase as a way to get on the property ladder and some people say they won’t be leaving their home until the times come to depart this world!
When we had our home built, I thought we would be here forever. But things change don’t they? Sometimes it is a job. For others, it’s a breakup. Some need more space as their families have grown and for others, like me, you simply re-assess what’s important in life and your needs somehow change. I’m not moving yet, but I know in the next 5 years we intend to!
Dataloft, the UK’s leading property research company that we work closely with has recently conducted a survey. They discovered that 1 in 8 people intend to move in the next 5 years. They also discovered that half of the homebuyers aged up to 34 expect to move within the next decade, not surprising really!
While younger buyers expect to move quite quickly, 44% of those aged 55-64 and 35% of those aged 65+ expect to be in their new home for over 20 years – not good for estate agents like me, but great for communities where neighbours really do know each other!
A fact that I found interesting was that In 2019/20, those with a mortgage spent an average of 10 years in their home. This compares to 23.8 years for owner-occupiers who own their property outright. How long do you plan to stop?
My name is Michelle Gallagher. If we can help you move, please get in touch. We are renowned locally for our market research, you’ll be surprised how much we know about your home already!
Call us on 01524 843322 or email me at michelle@jdg.co.uk
Thanks for reading
Michelle x