Of those considering a move, more than 1 in 4 (27%) want to stay within their current area. The main driver behind this sentiment is a desire to reduce living expenses, which is true for 44% of respondents.
Rounding out the top five reasons behind a potential move are:
- “My current home is too small” (27%)
- “I’m looking for different features” (27%)
- “I’d rather live in a different part of town” (12%)
- “I don’t like the management of the property I’m renting” (11%)
“The economic crisis has adversely affected the finances of many Americans,” said Tendayi Kapfidze, LendingTree’s chief economist. “Even those who have kept their jobs and added to savings, via stimulus and spending less due to staying home, are likely worried about the stability of their financial position.”
For most Bostonians, the location of their condo is as important as ever. According to Demand Institute 75% stated that the location of where they live is more important than the home itself.
The top reasons for moving:
1. For a safer neighborhood.
2. Closer to family
3. Closer to work
4. New job.
Nationally, as the chart above shows the average age for a first time homebuyer is 31, for repeat buyer it’s 53.
The average income for first time buyer is $68,300 and for repeat buyer its $95,000.
If you’d like more information on the Boston housing market please feel free to contact me at 617-595-3712.
SEARCH FOR CONDOS FOR SALE AND RENTALS
Back to Boston condos for sale homepage
Contact me to find out more about this property or to set up an appointment to see it.
SEARCH FOR CONDOS FOR SALE AND RENTALS
For more information please contact one of our on-call agents at 617-595-3712.
Updated: Boston Real Estate for Sale 2020
