The Main Reasons Why People Move Home

Are you considering moving to a new home?

There are several reasons why homeowners make the decision to move; one of the most common reasons is the need for a different size property.

Families often accumulate belongings over time, and as their children grow up and need more space, they find themselves in need of a larger home. On the other hand, retirees or separating couples may want to downsize to a smaller property.

Exploring Other Options

If you already own a property, you may want to explore other options to create more space without moving.

For example, raising capital via a remortgage for home improvements to build an extension, converting a garage into a home office or gym, or even converting the loft. These types of improvements can add value to your home when you decide to sell it in the future.

Family Factors

Another reason homeowners move is to find a better area or more affluent neighbourhood. The quality of schools available in the area is also a major factor for families.

Lastly, some people choose to move closer to friends or family, especially when starting a family.

Our Mortgage Service

Leaving behind your first home can be an emotional decision, but we are here to help you explore the pros and cons of moving and taking out a new mortgage versus a remortgage for home improvements.

Our mortgage advisors can calculate your maximum borrowing capacity and provide a quote on monthly payments to help you make an informed decision.

Written by
Malcolm Davidson
Managing Director of UK Moneyman Ltd.
MAQ & CeRER Qualified

15th November 2023

About the Author

Malcolm Davidson

Managing Director of UK Moneyman LTD

Malcolm is one of the UK’s most well-known and respected Mortgage Advisors. He is passionate about providing a 5* customer experience and he has also trained and mentored dozens of fellow Advisors in a career that is now in its third decade.

In addition to his day to day duties as Managing Director, Malcolm still gives out mortgage advice and feels lucky that his job is also very much his hobby.

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