Understanding the High Costs of Moving: Insights from Realtor.com®’s New Study
As the prime moving season approaches, a recent study conducted by Realtor.com® sheds light on the often-overlooked costs associated with relocating. On average, movers are spending approximately $17,000 to set up their new homes. This figure can rise to nearly $20,000 for those utilizing the Realtor.com® platform to assist in their homefinding journey.
The research indicates that moving, while frequently viewed as a stressful life event, also carries a sense of excitement. According to the survey, 36% of respondents feel thrilled on their moving day, a sentiment which persists throughout the entire moving process. Laura Eddy, VP of Research and Insights at Realtor.com®, framed this phenomenon, stating that while moving can interrupt routines, it often leads to a mix of joy, excitement, and relief as individuals finally step into their new living spaces. This transitional phase also presents a unique opportunity for marketers and brands to tap into the consumption patterns of these movers, as they tend to be more receptive to new products and services during this time.
Cleaning emerges as one of the primary activities new movers engage in to create their desired living environment. For many, cleaning transcends mere necessity; it becomes a means of forging emotional connections with the space they will call home. The survey unveiled that over 60% of movers prefer to tackle deep cleaning tasks themselves, with kitchens and bathrooms being top priorities. Furthermore, the findings show a trend towards purchasing new cleaning products, with approximately 61% trying out different brands and 51% opting for organic and natural cleaners. This indicates a growing preference for environmentally friendly cleaning solutions among new homeowners.
A considerable focus during the moving period is also on connectivity, especially for families who require reliable setups for remote work, online learning, and entertainment streaming. Over 60% of movers ensured they had internet installed either before or on the day of their move. In addition, 43% of individuals switched their internet service providers in search of enhanced pricing and services in their new areas. The increasing integration of technology in our homes is evidenced by the 35% of movers who reported using 5G internet in their new residences compared to just 27% in their previous homes.
Interestingly, the survey also highlighted that movers are often willing to experiment with new brands. Nearly one in three respondents disclosed making significant purchases, like vehicles, within the year leading up to their move. The trend showcases 14% of participants buying or leasing cars in the past six months, with a notable preference for larger vehicles, including those powered by alternative energy sources.
On the insurance front, a third of movers surveyed had also expanded their homeowner's insurance coverage. The most common additional policy types included flood coverage (61%) and fire coverage (58%), reflecting an increasing concern for home safety among new residents.
Among supplementary insights from the survey, three prevalent life events influencing moves were promotions and pay raises (39%), new job opportunities (21%), and families welcoming a child (16%). Interestingly, 68% of respondents relocated within 50 miles of their previous home, highlighting a trend towards local movements amidst changing life circumstances.
Safety and community crime rates were identified as critical criteria influencing home purchasing decisions, almost equally weighing against the property itself. The survey also noted that the majority of repeat buyers were inclined to purchase larger homes than those they previously owned.
The dynamic nature of moving has shifted along with societal changes. Many individuals are turning to online searches for moving services, and nearly 40% utilized storage units during their transition, often for short durations. To explore more on this report and the modern movers' mindset, visit Realtor.com® for comprehensive insights.
About Realtor.com®: Established over 25 years ago, Realtor.com® has transformed online real estate, faithfully connecting buyers, sellers, and renters with essential insights and professional resources. Recognized as the leading platform by real estate professionals, it remains a trusted partner providing innovative marketing tools for business growth.
The research indicates that moving, while frequently viewed as a stressful life event, also carries a sense of excitement. According to the survey, 36% of respondents feel thrilled on their moving day, a sentiment which persists throughout the entire moving process. Laura Eddy, VP of Research and Insights at Realtor.com®, framed this phenomenon, stating that while moving can interrupt routines, it often leads to a mix of joy, excitement, and relief as individuals finally step into their new living spaces. This transitional phase also presents a unique opportunity for marketers and brands to tap into the consumption patterns of these movers, as they tend to be more receptive to new products and services during this time.
Cleaning emerges as one of the primary activities new movers engage in to create their desired living environment. For many, cleaning transcends mere necessity; it becomes a means of forging emotional connections with the space they will call home. The survey unveiled that over 60% of movers prefer to tackle deep cleaning tasks themselves, with kitchens and bathrooms being top priorities. Furthermore, the findings show a trend towards purchasing new cleaning products, with approximately 61% trying out different brands and 51% opting for organic and natural cleaners. This indicates a growing preference for environmentally friendly cleaning solutions among new homeowners.
A considerable focus during the moving period is also on connectivity, especially for families who require reliable setups for remote work, online learning, and entertainment streaming. Over 60% of movers ensured they had internet installed either before or on the day of their move. In addition, 43% of individuals switched their internet service providers in search of enhanced pricing and services in their new areas. The increasing integration of technology in our homes is evidenced by the 35% of movers who reported using 5G internet in their new residences compared to just 27% in their previous homes.
Interestingly, the survey also highlighted that movers are often willing to experiment with new brands. Nearly one in three respondents disclosed making significant purchases, like vehicles, within the year leading up to their move. The trend showcases 14% of participants buying or leasing cars in the past six months, with a notable preference for larger vehicles, including those powered by alternative energy sources.
On the insurance front, a third of movers surveyed had also expanded their homeowner's insurance coverage. The most common additional policy types included flood coverage (61%) and fire coverage (58%), reflecting an increasing concern for home safety among new residents.
Among supplementary insights from the survey, three prevalent life events influencing moves were promotions and pay raises (39%), new job opportunities (21%), and families welcoming a child (16%). Interestingly, 68% of respondents relocated within 50 miles of their previous home, highlighting a trend towards local movements amidst changing life circumstances.
Safety and community crime rates were identified as critical criteria influencing home purchasing decisions, almost equally weighing against the property itself. The survey also noted that the majority of repeat buyers were inclined to purchase larger homes than those they previously owned.
The dynamic nature of moving has shifted along with societal changes. Many individuals are turning to online searches for moving services, and nearly 40% utilized storage units during their transition, often for short durations. To explore more on this report and the modern movers' mindset, visit Realtor.com® for comprehensive insights.
About Realtor.com®: Established over 25 years ago, Realtor.com® has transformed online real estate, faithfully connecting buyers, sellers, and renters with essential insights and professional resources. Recognized as the leading platform by real estate professionals, it remains a trusted partner providing innovative marketing tools for business growth.
Topics Consumer Products & Retail）
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