The American people are on the move. According to the most recent U.S. Census, nearly 7.5 million Americans moved to another state in a single year.
There are many reasons to consider a move. Whether your motivation is financial or personal, there is a likely solid rationale behind your decision.
Read on to answer the question why do people move? Explore seven common reasons for selling a home and moving to greener pastures.
1. Home Prices
One primary motivation of sellers is to capitalize on record-high home prices. Over the past decade, home prices have increased approximately 30 percent. In some areas, price growth is even higher than the average.
Many people are interested in selling a house to improve their financial situation. They could elect to turn equity into a more beautiful home. Another option is to pocket their earnings and relocate to cheaper living conditions.
Many families are interested in the quality of their child’s school district. If the current school district is underperforming, a move is a potential fix.
There are many online resources to help parents find great schools. Also, your real estate agent will be well versed in this area.
3. Property Taxes
Another common reason that people move is to avoid high property taxes. This is especially true in the Northeast portion of the United States.
In states like New Jersey, property taxes may be two to three times higher than in Nebraska. Coupled with higher home values, property taxes are a significant burden for some.
4. Income Taxes
Some people move to reduce their income tax burden. Again, states in the Northeast typically assess high-income tax rates on wages.
There are several states with low or zero income tax. This is a popular reason why many people choose Florida to relocate to.
As people grow older, their priorities change and many seek out favorable weather. Good weather is in the eye of the beholder.
Some homeowners are looking for warm temperatures all year round and move to Southern California. Others want to enjoy all four seasons and prefer a state like Nebraska.
Not all cities and towns have a robust employment situation. In some areas, it is difficult to find a job.
This is not the case in Nebraska. In fact, Nebraska has one of the lowest unemployment rates in the nation. The city of Omaha boasts an unemployment rate of just 3.2 percent, which is much lower than the national average.
7. Lifestyle Upgrade
Not all places are created equal in the United States. Sometimes, you have outgrown the place you call home.
Some live near the city and are looking for a quieter suburban lifestyle. Others are bored and want to enjoy the more upbeat city.
Why Do People Move? Seven Common Reasons
This is just a small sample size of the reasons why people move. Typically, the decision involves the quality of life or finances.
Many people are moving to Omaha, Nebraska to enjoy job opportunities and low taxes. If you enjoyed this article about why people move and are considering, contact us today to schedule an appointment with a real estate agent.