New Homeowners Rate Moving One of Life’s Biggest Stressors

What’s more stressful than moving?

Not much, apparently. New homeowners, who purchased in either 2021 or 2022, recently ranked some of life’s biggest stressors in a survey for U.S. News & World Report and moving came out as the biggest stressor, followed by a breakup, interviewing for a new job, starting a new job, planning a wedding, having a baby and getting a new pet.

Of the 67% who hired professional movers to do the job, 86% said it was worth the value. Thirty-six percent said the most stressful part of moving is the arranging and scheduling the move. Only 20% cited the cost as a stressor, while 19% said it’s the post-move unpacking.

For new homeowners, some underestimated the costs associated with being a homeowner. More than half (56%) said they have had to make unplanned repairs since they moved in, with 33% spending more than $1,000 on said repairs. Two-thirds bought a home warranty, but 14% don’t know what it covers. Fifty-nine percent described themselves as “house rich and cash poor.”

Half of recent homebuyers who have regrets about buying when they did wish they had saved more money before becoming a homeowner. But 40% of recent homeowners said they bought homes because prices were increasing so quickly. More than half (52%) plan to live in their new home for five or more years, while 39% plan to use it as a starter home and reside there for just 2-5 years.

Despite cost concerns and pricey updates, 35% wish they had bought a home earlier. For 27%, they reported they bought a home to be nearer to family.