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Homeowners suffer from seven-year itch

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by David Masters
Homeowners suffer from seven-year itch

Homeowners get the itch to move house every seven years, new research has discovered.

Co-operative Bank found the main reason people move house is to make room for a growing family.

Other popular reasons homeowners cited for moving included wanting to live closer to work, and getting bored of their current home.

One in six (14%) said the prospect of taking on new DIY projects is what motivates them to move house.

The survey also discovered gender differences, with women more likely to become bored with a property than men.

John Hughes, Co-operative Bank spokesperson, said: “The research shows that there are a wide range of motivations behind moving house as people look to take account of both their changing family and financial situations throughout their lifetimes.

He added that homeowners should carefully plan their move to ensure they can afford a bigger property.

“It is important that people do plan ahead, especially with regards to their finances, to make sure they make the right choices and alleviate many of the pressures associated with the moving process,” he said.

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News posted: November 13, 2009

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