How many times, as a Canadian homeowner, have you moved in your life? According to a recent survey by ComFree, believe it or not, a whopping 28% of homeowners get the urge to move every five years. What’s even more shocking is that 14% of Canadian homeowners get the itch to move every year. That’s a whole lot of boxes.
Why do Canadians move?
Major reasons that prompt Canadians to move include a new addition to the family, job relocation, a decrease in family members, retirement, an increase in cash flow, or major renovations needed.
To break it down by the numbers, most Canadians move because of:
• Family size increase (marriage, kids etc.) – 42%
• Job relocation – 37 per cent, but much higher in Alberta – 53%
• Family size decrease (divorce, death, empty nest etc.) – 20%
• Retirement – 18%
• Came into more money – 14%
• Home was in need of renovations – 14%
How expensive is moving for Canadians?
Of course, if Canadians move too often, the costs can get quite. According to Martin Rygiel, real estate expert and Director at the ComFree Network, Canadians need to be sensible about this matter, as a real estate transaction can be costly if one isn’t careful.
“Homeowners acting on their urge to move every five years could result in financial hardships,” said Rygiel. “Over a span of 60 years, this could equate to as much as $180,000 in traditional real estate agent commissions. Savvy Canadian home sellers recognize that a commission-free alternative is like a financial life raft.”
Moving is a taxing job and doing so can be exhausting, so before you take on the challenge, first find out if you really want to move.
Once you’re certain that it is the right thing to do, then you good for, but you’ll definitely need a checklist to make sure you get the move right.
If you’re ready to buy or sell a home, visit ComFree.com today.