Americans are looking to get their move on during the 2020s.
A new survey finds that 45 percent of homeowners have plans to move during the coming decade – with 16 percent saying they plan to move within their city, 15 percent heading off to a new city within their state and another 15 percent moving to a new state.
An additional 22 percent of homeowners aren’t sure on of their moving plans, according to the survey of 1,552 Americans commissioned by LendingTree.
What’s motivating these plans? The top three drivers were:
- Moving to an area with a lower cost of living (30 percent)
- Moving to an area with better job prospects (28 percent)
- Moving to be closer to their children (21 percent)
Here’s a look at the full breakdown on their motivations:
Return To Renting
Of the millennial homeowners surveyed, 28 percent said they plan to return to renting – while just 7 percent of baby boomers plan to rent after owning.
Among renters:
- 11 percent plan to buy a home this year
- 42 percent plan to buy a home within the next two to five years
- 16 percent expect to buy over the next six to 10 years.
- 25 percent say they never plan to buy a home.