Finances most important consideration for movers

There are many concerns that are involved in a person's move to a new home. But one seems to trump all others - money.

According to the U.S. Census Bureau's most recent American Housing Survey, 28 percent of recent movers said that the price tag was their biggest concern when moving to a new home. Second on their list of important factors was room layout and design - at 15 percent - while the size of the home fetched 10 percent.

Finances also led the way for the reasons why people decide on moving. A report by Newsday indicated that many people today, having been inundated with economic hardships, are moving to avoid foreclosure.

Many families "realize that they can no longer afford to make their mortgage payments or see a job loss coming," Gale Berg of the Nassau County Bar Association told the paper. "Many take this as an opportunity to sell and downsize. They don't want to be forced out by foreclosure or forced into a short sale, which can cause credit scores to suffer."

Yet some homeowners still aren't willing to relent and move away because of foreclosure. Fidelity Investments reported that many more people today are dipping into their 401(k) to pay off mortgage debts and keep their homes.


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