Should you move home in 2024?
Posted on: Thursday, February 8, 2024
As the property landscape continues to evolve, the question lingers: Is now a good time to move home? To help you decide, we’ve come up with a list of reasons why 2024 could be the perfect time to embark on a new chapter.
Market dynamics
The market appears to be stabilising after the post-pandemic turmoil. The end of last year saw inflation experiencing the sharpest decline in three decades, falling to 4.6% in October from 6.7% in September according to the ONS. As the UK economy starts to heal, we can expect that consumer confidence will do the same. It’s important to work with a local agent who has their finger on the pulse when it comes to housing trends, interest rates and local market conditions, as understanding these dynamics will empower you to make an informed decision about the timing of your move.
Changing priorities
Life is a fast-changing journey of growth, and because of this, our priorities change all the time. As we enter a fresh new year, now is the perfect time to take stock and evaluate your current lifestyle, family needs and the trajectory of your career. Does your current home and location align with your evolving goals? If the answer is no, it could be time to explore the possibility of a new home that better complements your family and lifestyle.
Financial considerations
Above all else, moving home comes with substantial financial implications, from deposits and mortgage rates to the cost of relocation itself. It’s important to take a close look at your budget and assess your financial readiness before making any decisions. Better yet, you could consult a financial adviser to ensure that moving will be a productive step towards your long-term financial goals.
Work-life balance
The events of recent years have completely reshaped our perspectives on work and lifestyle. Remote work is now more prevalent than ever, and therefore people have more flexibility when it comes to choosing a location. If your work situation has changed, it could be worth assessing whether a change of scenery would enhance your work-life balance and overall well-being. A new home and a fresh start could be conducive to productivity and happiness while working from home.
Community and amenities
The meaning of home extends far beyond the walls of your property, so make sure to explore the community and amenities that come with it. Even if you aren’t relocating far, you might be surprised by how much one community differs from the other. You’ll also need to consider factors such as schools, healthcare facilities and leisure spaces if you’re planning for the long term. Making a move to a harmonious and thriving community can have a huge impact on your overall quality of life, so if you’re focusing on self-care this year, moving could be a powerful catalyst for personal growth and happiness.
Contact us
Are you planning on moving in 2024? Contact your local Guild Member to get started on your journey.
