Moving is more than just a new chapter (or a hassle, for some people), it's also an important decision and one that most people don't make lightly--especially when they own a home. Overall, most decisions to relocate are tied to major life events or life changes. The top reasons can also vary based on the generation of the person moving. The reasons Baby Boomers move are often different than the reasons Millennials have for relocating. Let's take a look!
Overview: Why People Relocate
As mentioned above, life changes and major life events are the most common reasons people have for moving and include:
- Adding a child to the family (birth or adoption)
- Adding a new pet to the family
- Leaving home after graduation
- Leaving home to start a career
- Change in health or mobility (accessibility needs)
- Relocation for employment
- Retirement or down-sizing
- Decrease of income/loss of job/laid off
- Increase of income/promotion
- Provide care for disabled or ill family memberDeath of immediate family member/spouse
Relocation by Generation
Different generations are at different stages in life and therefore can have vastly different reasons for relocating. For example, Baby Boomers are more likely to relocate for retirement or down-sizing--especially if they're relocating to enjoy their retirement in Myrtle Beach. Gen Xers are more likely to relocate to accommodate a new pet or for a change in employment. Millennials relocate when they have an increase in income, get a new pet or get married. Generation Z is most likely to move when they graduate from school, have an increase income or welcome a new pet.
Life is ever-changing and housing needs can be too. Whatever your reasons for relocating, your Century 21 Broadhurst agent can help you sell your current home and find a new home that meets your new needs.