- Growing family
As a family grows and children need more space, a larger home is often necessary. Some people may consider extending their house as an alternative, but often it is more practical to find a new home that meets everyone’s requirements.
- Relationship change
Choosing to move in with a partner is a significant stage in any relationship. On the other hand, a separation can also result in a move. A common reason for people to move house is when forming a new relationship or dissolving an existing one.
A lifestyle change is a common attraction, whether you seek more privacy, peace and quiet, room for kids to run around, or to build a shed are just some of the reasons people move from suburbia to acreage.
- Closer to family
As the family unit extends to several generations, parents may want to be closer to their children, and grandparents prefer to live nearer grandchildren. Dual living properties are popular for this reason as families can combine their financial resources.
- New job
A new job can mean relocating to a different area if the commuting distance is too long. A new job can often also result in increased income, allowing greater choices for your new home.
- Kids school
More people are moving house to catchment areas where their children can be accepted into their school of choice. If going to a private school, travelling time may still be a consideration.
When the kids have grown up and moved out of the family home, many choose to downsize as they no longer need all the extra space. Another reason people downsize is to free up capital tied up in the property.
- Change of scenery
A change is as good as a holiday! Those feeling unsettled in their current home or searching for a fresh start sometimes move to a different location. Whether you want to move from the bright lights of the city to relaxing acreage or vice versa, some people decide that a change of scenery is just what they need at the time.
- Take a profit
You may have planned to sell and take a profit after renovating or sub-dividing. Just check with your accountant regarding tax implications – if it’s your primary place of residence, there is no capital gains tax.
When people develop certain health issues, it may be impractical to climb stairs or do a lot of yard maintenance, so a different type of property will be required. I know families that have moved their parents to acreage for better quality of life and their longevity has improved significantly!
- Neighbourhood changes
Neighbourhoods can change over time. For example, the road may have become busier, a developer has starting building townhouses just down the road, or a disagreement has occurred between neighbours.
- Avoid repairs & maintenance
It can be costly to replace a roof, fix old bathrooms, or add a swimming pool – so it may just be easier to sell and buy another house that has everything you want. On the other hand, another couple may be looking for a renovator – so both parties achieve what they want.