Research carried out by Dataloft shows, there are a handful of main reasons homeowners decide to move to a new house.
37% of responders just wanted somewhere more prominent, and this turned out to be the main reason. Looking back, this makes sense. Generally, only retirees or separating couples wish to Thank you somewhere smaller. Most families accumulate belongings that fill their homes. Their children get bigger and need more space.
An alternative to Moving Home in Doncaster to create space would be to raise capital via a remortgage to build an extension. Other options would be to turn a garage into a home office or gym or convert the loft. This type of improvements can sometimes add much value to your home when you come to sell it in the forthcoming.
24% of respondents were looking for a better area. It could be that when they were First Time Buyers options in Doncaster were limited due to budget. Chances are they are now earning more money and would prefer to live in a more affluent neighbourhood. Another primary reason for the moving area is the choice of schools available to their children. People get particularly choosy about the schools on offer when their eldest child is due to move up to secondary school.
Finally, 17% of home movers are looking to move closer to friends or family. We see this often occurs when couples are looking to start a family, which isn’t always a case. If both applicants work, then the chances are they would look to lean on their parents for help with childcare. Private nurseries are getting expensive, and in the early years, no free hours are available.
Buying for the very first time is a no-brainer for many people. Most would instead buy than rent, especially when the monthly cost of doing so is roughly the same (or sometimes less). Moving tends to be a trickier decision, in any case. There is the emotional element of leaving behind your first home and the pros and cons of moving versus extending your current property.
If this sounds like you then you might benefit from a Free Consultation with one of our Mortgage Advisors. We can help you compare the costs of raising money for home improvements versus the costs of moving. We will calculate your maximum borrowing capacity and give you a quote on monthly payments so you can think about your next step.
Talking to a local Mortgage Advisor is a popular option contract us because our Mortgage Advisors in Doncaster have good knowledge of the local area and share with you what options other clients have been taking recently.