Many homeowners are leaving their big-city lives behind for a quiet life in the suburbs during the pandemic. This is especially true of millennials and Gen Zs, who had been holding out on buying their first home before the pandemic. But is moving to the suburbs really as relaxing and rewarding as people make it out to be? Is the grass greener on the other side? Here are a few things you should consider before contacting the moving company.
Should: Big cities are now devoid of their former appeal
Businesses are closed, including the social and cultural hubs that city life relied on for nightlife glamour and urban appeal. And if you’re working from home, there’s no need to stay in an apartment that feels smaller every day and in an environment that feels too congested to properly observe social distancing.
Shouldn’t: Higher demand for suburban homes means more competition and higher prices
With mortgage prices at a low, plenty of people take the chance to pack up their things and move. And they may be right – higher demand for suburban properties will push prices higher. If ever you decide to move to the suburbs, make sure that you act quickly and strategically.
Should: The pandemic has highlighted the importance of the outdoors and green spaces
This is evident in the overwhelming number of people who have taken up gardening as a COVID-era pastime. Not only does it give them something to do, but the fruits of their labor also reward them. Being close to abundant greenery is beneficial to your mental and physical well-being. Big cities tend to lack green spaces and areas for our children to run around and play in the fresh air.
Shouldn’t: You and your family might have more difficulty adjusting to the move than anticipated.
Studies show that those who have moved more frequently in their childhood are more prone to developing mental health issues in later life. Change is good, as the saying goes, but having too much of it at a time in your life when stability and regularity are most important can lead to depression and anxiety in teenage years and early adulthood.
Think about how moving would affect you, too. For instance, no matter how much we insist otherwise, it gets more difficult to keep in touch with your friends as time passes. Remember that human beings are social creatures. The pandemic has had us craving social interaction since the beginning, and moving to an entirely new neighborhood in the suburbs might not do anything to help.
You and your family would have to deal with a change in social circles. Pandemic or not, it’s even more difficult to reach out to new social circles when suburban area design is very spread out. This is why the suburbs can also be depressing to even drive through, let alone live in.
So make sure to talk it out with your family first and examine as many pros and cons of making the move as you can think of.
Should: It’s a great time to sell your home and buy a new one
It’s hard to say when there will ever be a better time to move than now. Mortgage rates are at a low. House prices have also appreciated so much and so quickly in the last few months. Experts say that the rate of appreciation can’t last, so it doesn’t feel like you could lose if you act now.
Shouldn’t: It could lead to a pay decrease
You’re not the only one looking for any excuse to cut costs during the pandemic. Facebook CEO Mark Zuckerberg announced that the company would be slashing the salaries of employees who decided to relocate to less expensive areas. Other companies, including your own, could be following the same protocol. Before moving, make sure to ask your boss if it will affect your pay.
If news of the suburban migration has you tempted to go down the same path, it’s likely because of all the reported benefits that come with doing so. Low mortgage rates, less expensive areas, and the need to escape from congested city spaces are all good reasons to move. But perhaps the grass isn’t always greener on the other side. Remember different things that come with mobility, such as salary decreases, a highly competitive market, and mental and emotional distress.