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Avoid The Sticker Shock Of Relocating

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Avoid The Sticker Shock Of Relocating
by Realty Times Staff

To avoid the sticker shock of relocating, moving Americans can use the results of movecentral.com's annual moving survey to plan their spending. The new survey finds that movers spend $9,400 on purchases during the three-month relocation period, while renters spend $3,700.

Conducted by movecentral.com and Boston-based Atlantic Marketing Research, the survey polled 22,000 relocating Americans and yielded an average response rate of 4.1% percent. movecentral.com president and CEO Rick Libby presents the results as spending guidelines for relocating Americans to follow throughout the 90 day relocation process.

"Most people don't realize how much they'll spend during the course of a move," says Libby. "Our survey reveals how and where people spend their money, making it easier for them to plan a budget that anticipates surprises."

The survey found the following:

 

During 1998 and 1999, 42 million Americans moved, spending $102 billion on move-related goods.

 

Homeowners spent an average of $9,400 on purchases; renters spent $3,700.

 

15% of homeowners and 12% of renters stated that they bought a computer within the 8 weeks surrounding their move; homeowners spent an average of $2,160, and renters spent $1,340.

 

12% of all moving homeowners bought a car; 66% of these carbuyers made the purchase within four weeks after moving.

 

57% of owners and 37% of renters bought furniture within the 12 weeks surrounding their move; owners spent an average of $3,500 and renters spent $1,220.

 

35% of owners and 40% of renters bought bedding; of these individuals, 72% did so within three after their move. Owners spent an average of $420 and renters $240.

 

55% of moving homeowners purchase at least one appliance when they move, and 57% of homeowners buy furniture.

 

12% of all respondents with Internet access researched moving companies on the web; 8% researched real estate sites, 7% researched appliances/furnishings and 2% researched electronics, computers and banking services.

 

6% of movers using the Internet for research actually made online purchases; those buying goods and services spent an average of $600.

Source: movecentral.com

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