Key Highlights
- LendingTree survey finds that 45% homeowners intend to move during this decade
- 30% of those planning to move intend to move to area with lower cost of living
- 28% of those intending to move will be motivated by better job prospects
- Updater tech simplifies moving process
LendingTree, America’s largest online lending marketplace, recently released its latest survey about homeowners’ moving intentions. This survey found that +45% of US homeowners anticipate moving some time during this new decade.
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LendingTree found the three most compelling reasons for homeowners to consider moving, including….
- 30% moving to an areas with a lower cost of living
- 28% moving to an area with better job prospects
- 21% moving to an area that is closer to children
Interestingly enough, 60% of homeowners 75 years and older told LendingTree there is “no reason whatsoever” to move into a new/different house. And only one in six homeowners intend to go back to renting.
LendingTree also interviewed renters about their moving intentions during this new decade. 42% of renters indicated they intend to buy a home (no type of home was specified) within the next two to five years. 16% of renters anticipate beginning the home buying process within the next six to 10 years. And 25% of the renters surveyed indicated they never plan to buy a home.
With moving being such a nightmare, it seems more than interesting to me that so many homeowners and renters are planning to move during this new decade, according to LendingTree.
One startup, Updater, has the tech to make the process of moving easier, simpler and faster for both consumers and moving service providers. On the consumer end of moving, Updater offers a one-click process to research/compare/activate most home subscription services such as forwarding mail, connecting all utilities, scheduling a moving company, setting up home security and home insurance, and setting up internet, television, cable and satellite services. On the provider side of moving, Updater offers moving companies an end-to-end solution to run entire moving and storage businesses from the cloud.
The National Association of REALTORS® Second Century Ventures VC funding arm recently invested in Updater for a second time as NAR looks to support companies that enable smother, faster, more simplified services within the real estate industry.
Agents are able to sign up for Updater for the cost of $149/year in order to offer a branded version of its app to their clients. At this point in time, some 2,000 real estate firms are utilizing Updater to help their clients.
According to the company’s founder and CEO, David Greenberg, “Updater provides brokerages a turnkey way to grow their business and offer value-added services (to their clients)…(the company) also integrates with most of the widely used real estate transaction management and CRM systems…”
Greenberg expects Updater to be leveraged by approximately 50% of all households moving in 2020.
Certainly wish my real estate agent had suggested Updater to me during my last move. As anticipated, it was a nightmare.
Thanks to InmanNews’ Andrea V. Brambila and HousingWire’s Julia Falcon for source data and material.
Also read: Podcast: 14 Rules For Financial Peace | How To Build Real Wealth, Now. (Part 2), Markets That May See Downturn in Possible Recession, Podcast: Suzanne Fuqua Exclusive Interview
