By Jorge Antonio Vázquez Buendía
May 9, 2024, 10:40 AM EDT
A Realtor.com survey asked how American mothers affect real estate decisions. And it found that for three quarters of those surveyed the ideal would be to live near their mothers. Additionally, nearly half of American adults (47%) have moved or plan to move themselves or their mother to be closer to each other.
“Home buyers try to balance a wide range of considerations when choosing where to live. A key factor in many buyers’ decisions is proximity to family, specifically, proximity to their mother,” the Realtor.com report says.
According to the survey:
· 14% moved to be closer to their mother
· 15% plan to move to be closer to her
· 10% say their mother moved to be closer to them
· And 8% say that their mother plans to move to be close.
Mom Attraction means that nearly two-thirds of Americans responded that where their mother lives influences where they choose to live, and 65% would move closer to their mother if they could.
Additionally, of respondents who took steps to be closer to their mother, 29% said they bought or rented a new home to be close, and 20% went ahead and moved in with their mother. Another 19% said their mother bought or rented near them and 13% said her mother moved there.
Among those who intend to take steps to be closer to mom, a third (31%) plan to buy or rent a new home near their moms, while 16% say they will buy or rent a new home together.
Realtor.com notes that many homebuyers and homeowners take their mothers into consideration when choosing a home: “While housing costs remain high, moving in with mom or renting a place nearby can be a great option both financially and to achieve the desired proximity.”
For those thinking it might be time to take that step, Realtor.com’s March Rental Report reveals that rents declined in March for the eighth consecutive month, with year-over-year rental prices falling 0.3% and declines seen across all unit sizes and highlights the top 10 markets with the largest annual drops in rental prices.
Keep reading:
· Real estate market myths that affect buyers and sellers in the US today.
· Housing: Mortgage rates rise for the fifth consecutive week in the US.
· Places homebuyers are moving to in the US.