Study Reveals Americans' Rising Faith in Housing Market
Nearly half of Americans (47 percent) say they feel more comfortable purchasing a home today than at any other time in the past five years, according to results of a recent survey by Mayflower. And nearly a third say they are now ready to make a move.
Compared to 2012, residential moves were up 18.9 percent in the historically slowest moving months – January through April.
The survey data is also consistent with other national data showing continued rises in existing home prices and sales. Growth appears to be the strongest in the West, where data showed 54 percent of survey respondents are now comfortable purchasing a house.
The data reflect an easing of the wariness Americans have felt in recent years in the aftermath of the bursting of the housing bubble in 2008. Although the average American reports moving six times throughout their adult life, nearly half of Americans (49 percent) say they have put off moving since the bubble burst nearly five years ago.
Among those now interested in searching for a new home within the next year, the survey showed the desire for a new or better home is the leading motive. Other important motives include a desire for a more attractive neighborhood and the desire to become a homeowner.
Most mobile are the young, with half of Millennials (18-34 years old) more receptive to buying a home than renting and looking to move within the next year. While younger consumers would be more likely to move due to a change in employment or a growing family, half of adults over the age of 65 would consider moving in the next year because of retirement.
The peak moving season begins in May and will continue until September. Here are some tips to help consumers save time and money throughout their move:
• Move on a weekday. Weekends are the time when most people want to move, but on weekdays, moving trucks often go unused. Book a truck on a Monday or Tuesday and use the weekend to prep for the movers' arrival.
• Move in the early part or middle of the month. A lot of household moves happen at the end of the month, which means prices will be higher.
• If given a choice, avoid moving in the summer, especially June and July. You can save big on your moving costs.
• Book in advance. Once you know the date of your move, book your mover right away.
• Do some of your own packing. You can easily pack clothes, blankets, pillows and other non-fragile items yourself. For the breakable items, consider letting professionals pack them to avoid having to replace broken items.
• Consider a do-it-yourself option like a container. Portable moving and storage containers allow you to pack and load your things at your own pace. A professional will pick up your loaded container and deliver it to your new home, so you don't ever have to drive a truck.
• Bundle other services into the price of your move. Look for a carrier that can arrange for services like cleaning, PC and network assembly and disassembly, and ID theft protection. Bundling these services with the cost of your move can help you save hundreds of dollars compared to hiring separate companies for each service.
Reprinted with permission from RISMedia. ©2013. All rights reserved.