A new study has found that around three-in-four (74%) of children have a significant say in the ultimate choices of the home moving process.
The survey by Zoopla has also revealed who takes the ‘Home Move CEO’ role in different parts of the buying and moving journey, with males still having the biggest sway in many aspects.
Some 40% of Gen Z (aged 45 to 60) movers identifying their children as either the primary influencers or a significant part of the final choice, while one-third (32%) of Millennials (aged 29 to 44) acknowledge a similar level of influence. This fits in with other research that has found that children are having more of a say in many substantial purchase, such as cars and household appliances.
When it comes to important considerations in picking a new place to live, children were found to be extremely hardline – just 1% open to concessions, compared to 56% of adults.
There are regional variations. The biggest influence of children was found in Scotland, at 37%, with the least influence in the South East of England (26%). At the other end of the scale, where respondents said that their children had “no influence whatsoever”, the West Midlands had the largest number (35%), while in Scotland it was only 14%.
In terms of adult input in moving home, a clear division of labour still exists within adult relationships. 60% of Baby Boomers (aged 61 to 79) reported that they share the decision to move equally, far exceeding Gen Z’s 25% and Millennials’ 31%.
Men are most often ‘Home Move CEO’ with 32% taking the lead role in the overall process. This compares to 25% of women. This leadership is particularly evident in financial and logistical stages such as setting the budget, choosing a mortgage and negotiating the house price. The findings show that women have the dominant part in researching the local area for schools and amenities.
Daniel Copley, consumer expert at Zoopla, commented: “”It’s fascinating to see the curtain pulled back on the intricacies of the modern-day home hunt. It’s clear that collaborative decision-making is firmly on the rise, especially among Millennials who are truly leading the charge in teamwork. However, the most compelling finding is undoubtedly the growing influence of children. This means that for a significant portion of the market, the family home is truly a family decision. Understanding these nuanced dynamics is invaluable and it underscores the importance of open communication for a smoother, happier house hunt.
“Whether it’s setting the budget or negotiating house prices, using tools like Zoopla’s My Home gives you an idea of what you could sell your current home for and provides deeper insights into the home you’d like to buy. Additionally, listings pages include insights such as planning permissions and information on local schools and local amenities. You can also add your preferred travel destination to help you refine your search when looking for proximity to work.”
Nigel Bishop, founder of buying agency Recoco Property Search, said: “All too often, buying a property is a family matter. Whilst parents narrow down the selection of properties via search criteria such as location and budget, children are frequently asked to share their thoughts on the potential new home. Particularly families with young children, who would spend their childhood and teenage years growing up at the property, value the opinion of their offspring.”
Read the orginal article: https://propertyindustryeye.com/childs-play-many-youngsters-a-big-influence-on-home-choice/
