National Survey Reveals Moving Causes Money Nightmares
By Mel Fabrikant Tuesday, May 27 2014 @ 03:06 PM EDT
15% of new movers have gone into debt due to a move
Almost ½ say they moved for a job but their company didn’t pay a dime!
In today’s world, moving to a new home may leave a larger dent on your wallet than your personal belongings. A new, national survey reveals that new movers face thousands of dollars of moving expenses, at times $5,000 or more - expenses that cause a debt disaster for 1 in 6 movers. To make matters worse, more than 2 in 3 new movers say busy and unapproachable friends and neighbors add to their emotional and financial stress.
The survey was just released for May’s National Moving Month, the start of the busiest moving time of the year. More than 40 million Americans are expected to relocate this year, and most will make their move during the summer months when the weather is favorable and kids are out of school.
According to the national survey of more than 300 men and women who have moved in the past five years, all 40 million of those movers should brace for:
Lasting and Debilitating Financial Issues:
The move will likely cost at least $2,000 - Nearly half (48%) of the respondents said the average move costs $2,000 or more. 1 in 10 said that the average move costs $5,000 or more.
Going into debt after the move is a distinct possibility - Nearly 1 in 6 respondents (15%) said they have gone into debt due to moving costs.
And it’s unlikely your company will help bear the cost burden - Only 2 in 5 respondents said they’ve ever relocated for their career. Of those respondents, nearly half (46%) said their company did not help pay for relocation.
Stressful Conversations/Decisions with Family and Friends:
Asking friends to help will be stressful – More than 2/3 (69%) of survey respondents said it is stressful to ask friends to help them to move. 75% of those respondents said it’s hard to ask because they know they’re busy.
You’ll avoid asking for help because you don’t want to owe favors – More than 1 in 3 (36%) respondents said they don’t ask friends to move because they “don’t want to owe them a favor.” Additionally, more than 1 in 4 (29%) respondents have personally turned someone down who asked for help with a move.
Your friends will require incentives to help with moves – More than ½ (53%) of the respondents said they have to offer an incentive if they want friends to help them move. Naturally, the top three incentives were “pizza,” “a six pack of beer” and “cash.”
And it’s unlikely the family/friends you love can afford to move with you - More than 3 in 5 (62%) of survey respondents said they would move somewhere else, but don’t believe they have the money do so.
This national survey was commissioned by Our Town America, the nation’s premier new mover marketing franchise, a company dedicated to minimizing new mover stress and restoring housewarming traditions by connecting new movers with welcoming local businesses.
“These survey results show that it’s critically important for neighbors and local businesses to welcome new movers to town with open arms,” says Our Town America President & CEO, Michael Plummer, Jr. “The emotional and financial stress associated with moving takes a heavy toll on new movers. They desperately need a helping hand to limit stress, minimize costs and feel comfortable in their new home.”
Our Town America delivers its welcome packages free to the mailboxes of new movers with housewarming gifts – often times free products and services from local businesses. Research shows once the new movers try the business, they repeatedly revisit that business due to the initial warm welcome.
“This survey shows new movers need and appreciate this welcome package, especially after receiving minimal help from their loved ones throughout the moving process,” says Plummer.
Unfriendly Neighbors Add to Moving Stress
More than half (53%) of the respondents said that today’s neighbors are not as friendly as the neighbors they remember as a child because they “seem too busy.”
This is unfortunate as nearly half of respondents (49%) also voted “meeting new neighbors” as a top three requirement to feeling comfortable and settled in a new home.
Housewarming Gifts Matter
More than half (54%) of survey respondents have moved six or more times and more than 2 in 3 (67%) have moved out of state or out of the country - today’s movers need a helping hand to feel comfortable and learn more about their brand new surroundings.
88% of respondents said that receiving a housewarming gift would make them feel more comfortable in a new home/neighborhood, yet less than half (46%) have ever received a housewarming gift when new to a neighborhood.
81% of respondents said they would have liked advice about their new community upon move in. 93% say they would take advantage of an offer from a local business that took the time to welcome them to the community.