Movin’ on up can cost a lot of time and some big bucks
Depending on the acreage, this is going to cost the owner in regards to acquisition, monthly payment, and upkeep. First is the acquisition. Larger lot means larger price, thus larger down payment and monthly payment. In metropolitan areas, the closer in to the epicenter of town, the more the extra space is going to cost you. If you decide to get it cheaper by moving out of town, then you’ll be paying more for gas and be losing the ever elusive minutes of your life.
For most move up buyers, this is the No. 1 reason they are shopping for a home. The 3-bedroom townhouse isn’t cutting it for the growing family and it’s time for a yard. Let’s get the 4th bedroom, or 4th bedroom with a “bonus” room in the basement.
Don’t forget that once you get a larger place, it usually is compounded with a decision to replace older furnishings or purchase new furnishings to put into your new areas. Movecentral.com’s latest home moving survey revealed that:
- 57 percent of owners and 37 percent of renters bought furniture within the 12 weeks surrounding their move; owners spent an average of $3,500 and renters spent $1,220.
- 55 percent of moving homeowners purchase at least one appliance when they move, and 57 percent of homeowners buy furniture.
- 35 percent of owners and 40 percent of renters bought bedding; of these individuals, 72 percent did so within three after their move. Owners spent an average of $420 and renters $240.