- Some 66% of relocators have same/lower housing costs
- Some 66% say new home is same or larger size
Turns Out that Majority of Pandemic Relocators Made Right Financial Move
A recently published study by Redfin of people who relocated to different areas during the COVID pandemic indicated that they had made the â€œrightâ€ decision for themselves financially
Take a look at the studyâ€™s findings:
– 78% have same or more disposable income after their move
– 68% have same or lower housing costs than before their move
– 64% moved into home that same or larger size than previous Â Â Â home
– 80% have no regrets about relocating
– 80% say they are happier post-move
Deeper Dive into Disposable Income Post-Move
Only 1% of relocators said they had A LOT LESS disposable income post-move
21% said they had A LITTLE LESS disposable income
32% said moving had no effect on their disposable income.
22% said they had A LITTLE More disposable income post-move.
24% said they had MUCH MORE disposable income post-move.
Deeper Dive into Same/Lower Housing Costs
With 68% of relocators indicating they had the same or lower housing costs post moveâ€¦
- 25% had significantly lower housing costs post-move
- 20% had lower housing costs post-move
- 24% had about the same housing costs post move
- 9% had significantly higher housing costs post-move
27% of survey respondents indicated that their move in 2020 or their pending move in 2021 was/is motivated by affordability.Â 21% indicated their decision to relocate was/is based upon lower taxes.
Deeper Dive into House Size
With 64% of relocators indicating how they would compare their house size to their previous homeâ€¦
- 46% moved to larger homes
- 36% moved to smaller homes
- 18% moved to the same size home
Deeper Dive into â€œNo Regrets
A whopping 80% of relocators indicated they have no regrets about moving.Â The remaining 20% saidâ€¦
- 1% regret making the move
- 13% have some regrets
- 6% not sure whether or not they have regrets
Deeper Dive into â€œFeeling Happierâ€ Post-Move
Another whopping 80% of relocators indicated they were feeling happier post-move than they were prior to making the decision to do so.Â The breakdown of the â€œhappierâ€ relocators looked like this:
- 55% much happier
- 24% a bit happier
- 13% indicated move did not affect their mood one way or the other
- 6% a bit sadder
- 1% much sadder post-move
According to Redfinâ€™s lead economist Taylor Marr, â€œFor most people, relocating to a different metro area probably wasnâ€™t a knee-jerk reaction to the pandemic.Â A lot of Americans had already been considering relocating , but they were blocked from actually making theÂ move because they had to stay close to their office or wanted to live near friends or their childâ€™s school.Â The pandemic and resulting work-from-home culture has removed some of those barriers, allowing many people to choose where they live based on factors like affordability, proximity to family and weatherâ€¦those people are likely to be stisfied with their moves because the circumstances of the pandemic have allowed them to chase their dreams.
Thanks to Redfin.
URGENT: 2021 Results Released. New FREE On-Line Web Event Reveals 17 Surprising Secrets Of The Top 100 Millionaire Agents. Get Your FREE Spot For The On-Line Webinar Now. When You Attend This Event You Will Have A Sense Of Relief Knowing You Can FINALLY Laugh At Your Money Worries – If You Follow This Simple Plan. Learn How To Generate 100’s of Motivated Leads Without Coming Off As A Pushy Salesperson and Losing Your Soul. Learn Now How To Become One of the 1000s of Agents Making HUGE Money NOW Who Never Thought They Could.
P.S. Limited Space Available. 235 Spots Left.