Nearly Half of Homeowners Plan to Move in 2020s, LendingTree Survey Finds
Forty-five percent of homeowners have plans to move to a different house within the next decade while a few millennials question whether homeownership is the best fit, according to a recent survey from LendingTree.
LendingTree commissioned the survey of more than 1,500 Americans to better understand their sentiments around making moves in this new decade, whether it’s buying a home or choosing to rent.
45% of homeowners have plans to move at some point before 2030, while 22% haven’t set any expectations. Of those who plan to move within the next 10 years:
16% plan to move to a new house in their current location
15% plan to move to a new city, but within their current state
15% plan to relocate to a new state altogether
Of those who plan to move, the top reasons for moving include:
Find an area with lower cost of living (30%)
Better job opportunities (28%)
Closer proximity to children (21%)
About 1 in 6 homeowners plan to return to renting at some point over the next 10 years. One in 10 millennials plan to rent again in 2020. More than two-thirds (68%) of baby boomers don’t plan to ever go back to renting.
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