Main Reasons for People Moving Home in Newcastle

As an open & honest mortgage broker in Newcastle, we have come across an array of different reasons as to why someone may look to move home in Newcastle. We have also seen our fair share of similar reasons too.

Below we have compiled a comprehensive list of the main reasons why someone may wish to move home in Newcastle; perhaps you may find one similar to yours:

Main reasons for moving home in Newcastle

– For More Living Space

This tends to be the most frequent we find crops up for home movers. Usually we will see first time buyers in Newcastle finding a smaller more convenient house to begin with, opting to move into a new home further down the line once their circumstances have changed.

It is also quite common amongst people who are considering starting a family of their own. Once you become a parent, that small house suddenly becomes much smaller. This can make it difficult to feel like you have your own space.

On the flip side to this, there are other alternative means of creating more living space. Some people may look at a remortgage in Newcastle to raise some capital as a way of funding any potential home developments, extensions or alterations.

Remortgage is a popular option for homeowners who aren’t quite keen on the idea of moving out, instead choosing to make an investment on their home. This allows for you to create the space you need without leaving your home.

Doing this may also add to the properties value which could be incredibly useful if you are ever looking to sell your home in the future.

– A Change of Scenery

Sometimes people may just be looking to find a change of scenery. There is nothing wrong with that, as it is something quite common. We would argue that it is one of the largest factors outside of space, as to why people may want to move home.

As a mortgage broker in Newcastle, we often hear from prospective home movers in Newcastle that they had a low budget when they first bought their home, though now that has changed and they’d like to invest in a higher-end property in a different location.

It is very likely that those types of borrowers are on a much higher income than they were previously and are looking to find a home that is in a much more affluent area than the one that they are currently living in.

When you buy your first home, it is not likely that you would consider a choice of schools if you didn’t already have a family. That can change though once a family is formed, and so you may consider moving home to be closer to better education options.

– To Be Closer to Family & Friends

We also find that many who are moving home in Newcastle will look to do so, as a way of living closer to family and friends. Once again, this is much more common with couples starting a family of their own.

If both parents are to be working full time, then it is more than likely that they will ask their own parents to help them out with childcare. Private nurseries are usually quite expensive and may not always be close by.

Moving home in Newcastle can be a tricky decision to make. If you perhaps don’t want to leave but need more space, maybe it’s time to speak to one of our remortgage advisors in Newcastle. They will talk you through your options for raising capital for home improvements.

Moving Home Mortgage Advice in Newcastle

For any customer who is looking at moving home in Newcastle, we believe you will benefit from taking out expert mortgage advice in Newcastle. Book your free mortgage appointment today and a dedicated mortgage advisor in Newcastle will be in touch.

They will be able to calculate your maximum borrowing capacity and give you a rough estimate on the costs you will be possibly looking at paying per month, once you have moved home.

Even if you are swaying more towards your options for a remortgage in Newcastle, get in touch today and benefit from a free remortgage review with one of our expert remortgage advisors in Newcastle.

Date Last Edited - 21/06/2022