Why do existing home owners move house?

There are 14.4 million households across England who own their own home, either outright or with a mortgage. This is 63% of all households.

With the Survey of English Housing estimating that 576,000 (4%) of these people planning to move within the next six months, its interesting to see what peoples motivations are. 

According to Dataloft, there are differing reasons depending on whether you own your house with a mortgage or outright. Moving up the ladder is the main motivation for existing owners with mortgages, although a third of those that own their home outright are looking to do the opposite, downsize! This could be because these people are in differing stages of their lives, for example those living mortgage free are likely to be downsizing after their children have moved out of home! Or perhaps as a homeowner with a mortgage you're expecting another baby and need another bedroom!

There are also other reasons such as the area, moving for a new job, or perhaps as the new school year gets underway shortly, many are moving home to be in particular school catchment areas!

Regardless of the reason for your potential move, we can help. Give us a call now and see how using Bychoice can benefit you!