Exposure

Exposure

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thisismoney-13-04-19

THIS IS MONEY, APRIL 23, 2019
COVERAGE FOR YOPA

Home truths: A quarter of us can’t stand where we live but the cost and stress of moving puts us off looking for another place

  • 26% of Brits said they hate their home because it’s too small
  • 56% said they have no emotional connection with their home whatsoever
  • 53% said the financial cost was the worst part of moving

A quarter of Britons can’t stand the home they currently live in, but the costs and stress associated with moving puts many people off from looking for another property, a new survey shows.

Homes being too small is the most common reason for people to hate their abode, with 26 per cent of people saying so.

But location also plays an important part, with some 17 per cent of people not liking where they live because of antisocial neighbours and 16 per cent for fear of crime.

However, the fear of the financial cost, the stress and the strain of moving leaves many feeling trapped.

Some 60 per cent said they’ve been put off from looking for a new home because of the pressure of the process, according to a survey of 2,000 people by estate agent Yopa.

Money is the biggest problem when moving home, with more than half of those surveyed saying the financial cost was the worst part of moving.

But overall stress is also an issue, with 40 per cent of people considering moving home to be more stressful than getting divorced or having a baby. In fact, the only life event which came higher in the stress stakes was a bereavement, according to the study.

And so many resign themselves to live in properties which they don’t really like, with 56 per cent saying they have no emotional connection with their home whatsoever and a disillusioned 12 per cent saying home is simply where they ‘hang their hat’.

Asked what would make moving easier, lower costs were the most common answer, with over 40 per cent of people calling for lower estate agents fees.

Some 37 per cent also wanted more transparency and 34 per cent would like a free utility switching service.

Yopa chief executive Ben Poynter said: ‘Our nationwide study has revealed just how many people have negative feelings about where they currently live.

‘At the same time, people feel unable or are unwilling to make a move because of fears about costs and the stress of the moving process.

‘Brits have said they know that moving will make them happier in the end but many feel stuck between a rock and a hard place… and worst of all they’re losing sleep over it.’

Despite all problems, six in ten, or just over 60 per cent of Brits believe moving home could ultimately make them happier and 82 percent admit that they’ve spent time looking at the likes of Zoopla and Rightmove, dreaming of finding an ideal home.