On average, moving house costs £8,885 each time.
It’s also time-consuming and stressful.
So, how often do people move house in the UK? And why do they move?
Read on to find out.
How often do people move house?
According to Zoopla, the average person in Britain moves house 8 times throughout their life.
It’s rare for people to move to a completely different part of the country. Moving nearby is more typical, according to government statistics.
Several studies have found that young people (18-30) move the most frequently. After this, homeowners tend to move less often as they get older.
Moving when renting vs owning
Renters move much more frequently than homeowners.
This is due to the relative ease of leaving rental properties and entering new ones. There’s no mortgage, conveyancing, exchange of contracts, etc.
When is the most popular time of year to move house?
The housing market is busiest during Spring and Autumn, as most people think this is the best time of year to move.
This is largely because it avoids major holiday periods (especially Christmas and summer).
Families
Families with children often want the move to happen during the Summer holidays.
This is because they don’t have to pull the children out of school to facilitate it.
Reasons for moving
1. To make money
Most homeowners consider property an investment. It’s often their largest asset and the one with the highest returns.
So, many move when they see an opportunity to improve on their investment.
This might be because their current home has gone up in value or because they now earn more money.
They begin as first-time buyers, get second stepper homes, and then continue moving throughout life.
2. Upsizing
Your family may have grown since you first bought the house. Or, perhaps you’ve simply got more belongings!
Upsizing is sometimes downstream of people buying a more expensive property.
However, sometimes, it’s related to moving to a cheaper to get a larger property.
3. Evicted by a landlord
Moving house isn’t always in your control.
When you’re renting, it’s possible that your landlord could evict you. This may happen even if you haven’t done anything wrong.
4. Relocating for work
Sometimes, your career requires you to relocate for work.
Perhaps you’ve been moved to an office in a different part of the country.
Or perhaps you’re looking for better pay, which is more likely to be found in a major city.
5. Downsizing
Downsizing is more common in your later years.
But sometimes it’s needed sooner. If your income has gone down, you might no longer be able to afford your current property.
Or your children have moved out, so you no longer need all the space.
6. Moving to a new area
When you’re tired of your current location, it may be time to try a new area.
This might be moving across the entire country – or it could just be a couple of towns over.
A typical example is when parents want to get their children into a particular school.
You may need to live in the ‘catchment area’ to make this happen.
7. Relationship changes
It’s always painful when your relationship changes with someone you live with.
And when they’re your partner or a family member, you’ll often want to spend some time apart.
Divorces or estrangements can sometimes lead to a move to a new house.
What prevents moving houses
Several issues can prevent you from moving home.
If you struggle to get a mortgage, you may be unable to buy or upsize.
And if you’ve signed a rental contract for one or two years, you’re required to make those monthly payments until the contract expires.
When you’re going through a divorce, your ex-partner may be able to apply to the court to stop you from moving house with your children.
You could also be at a workplace with a ‘mobility clause’ in your contract. Once you’ve signed it, it could limit where you’re allowed to move to.
