Three out of 4 Americans (75%) have regrets about their move in 2022, according to a new report from Clever.
Clever’s latest report surveyed 1,000 Americans on their experience with moving in the past year, and dug into details about their type of move, their regrets about moving, and how much their move cost (and if the cost surprised them).
The report found that the top regrets people expressed were I wish I moved to a bigger place (20%), I miss my old home (20%), I wish I got rid of some belongings instead of moving them (19%), it was too much of a hassle (19%), and it took too long (18%). Additionally, the top reasons Americans moved in 2022 were to improve their quality of life, live in a cheaper area, and get a bigger place.
Key highlights:
- Despite their regrets, people approached moving with mostly positive emotions: positive emotions (excited, hopeful, or relieved) were at 65%, and negative emotions (stressed, anxious, frustrated, or dread) were at 59%.
- The most popular positive emotion was excitement at 38%, and the most common negative emotion was stress at 33%. A whopping 44% of Americans also reported that they cried at least once during the moving process.
- Moving created conflict in personal relationships for 43% of respondents. Nearly 2 in 3 (62%) still think moving was worth it overall, but a sizable chunk disagrees (38%). Those who fought (42%) were 1.2x times more likely than those who didn’t fight (35%) to say moving was not worth it after all.
- Besides passing up the large home of their dreams and missing their old abode, Americans also regret their moving-related decisions. More than 1 in 4 (28%) regret not hiring a mover or moving company.
- At 24%, quality of life was the most important factor in moving. However, people are also prioritizing better weather, recreational opportunities, and better infrastructure over attributes such as affordability and being closer to loved ones.
- Other reasons include: lower cost of living/home prices (23%), upsizing (i.e., a bigger home) (22%), work flexibility (i.e., working remotely) (22%), and to live closer to friends/family (21%).
- Forty-three of Americans said the cost of moving surprised them. A majority of Americans spent less than $2,000 on their moves (54%), while 46% spent more than $2,000. In particular, 7% spent $5,000 or more.
- The surprise may come from the costs associated with using moving services: 46% of those who hired moving services were surprised by moving costs, whereas Only 38% of those who didn’t use moving services reported being surprised.
Major takeaway:
“Despite a challenging economy, the U.S. population continues to increase rapidly because of a growing population of immigrants and a pandemic-induced birth rate bump. This has led to a rising cost of living as housing demands outpace inventory during record inflation,” said Sam Huisache, content writer at Clever and author of the report. “As formerly affordable areas have increased in cost, a significant portion of Americans may choose to move to places where they feel like they can maximize their quality of life. Many Americans are choosing to prioritize other criteria besides cost, such as owning a different kind of home or having access to wide open spaces.”
Clever also found that more than 1 in 3 Americans Americans (37%) believe they did not budget correctly for their move.
“Underestimating is the most common budgeting mistake, with 17% of Americans reporting that their move was ultimately too expensive. Getting locked-in quotes from movers ahead of time can improve the accuracy of moving budgets. Many Americans research moving companies’ rates ahead of time,” said Huisache. “More than one-fourth of Americans (26%) named price quotes as a top factor for choosing a moving company, and 24% said discounts and deals enticed them. Despite getting a quote, 40% were charged something different from what they were quoted. This can happen because of a variety of factors, such as travel delays or having more boxes or furniture than was reported.”
For the full report, visit https://homebay.com/moving-trends/.
