I can afford it but...
There’s no doubt that the price of a house is important – but when choosing where to live, many other factors come into play as well.
How long is your commute?
Are you close to family and friends?
Could you get more space or better features if you went elsewhere?
In 2013, the ING International Survey on Homes and Mortgages explored these issues and more.
Why do we move?
A Wall Street Journal column busting five “migration myths” in the United States examines why people move and the economic impacts.
It tells how people moving from one state to another vastly outnumber people who move to the United States from abroad, ultimately shaping the economy by renting or buying homes and cars, shopping, having children, voting and more.
It says the most common reason people in the US migrate is a change in their employment – rather than the “myth” that it is typically for retirement or tax purposes.
It says that there is a drift from country to cities but that the biggest population increase is in suburbs around the “very high” density cities.
Office for National Statistics figures for London in the United Kingdom show several similar dynamics.
The trade-offs of city v country?
ING International Survey data paints a picture of life in the city and life in the country.
On the upside, capital city dwellers were more likely to have improved finances and be intending to renovate their home.
However, they were much less likely to live in the most popular “dream home” living situation – a detached house – and much more likely to have argued about housing costs with the people who live with them. It pays to think about more than just price when deciding where to live.