How important is it for you to live near your mom?
Published ahead of Mother’s Day, a recent Realtor.com survey examined the influence of mothers on real estate decisions and found that being close to family — specifically one’s mother — plays a significant role in the decisions of many prospective homeowners.
In an ideal world, three-quarters of Americans said they would prefer to live near their mothers. Nearly half of the respondents — 47% — have relocated or intend to move either themselves or the matriarchs in their lives closer.
Specifically, 14% of respondents said they moved closer to their mother or maternal figure; 15% said they planned to relocate; 10% said their mother or maternal figure moved closer to them, and 8% said their mother intends to move to be closer.
More than two-thirds of Americans said their choice of residence was influenced by where their mother resides, and 65% would relocate closer to their mother if given the opportunity.
Among those who have successfully achieved proximity to their mothers, 29% did so by purchasing or renting a new house, while 20% chose to move in with their mothers. Additionally, 19% of respondents reported that their mothers bought or rented a property nearby, and 13% stated that their mothers moved in with them.
One-third (31%) of those who want to be closer to their mothers say they’ll buy or rent a new house close to them, while 16% shared plans to find a place together.
Hannah Jones, Realtor.com’s senior economics research analyst, told Fox Business that moving closer to family can help save funds “either because the area is less expensive or because family can help with childcare, which reduces childcare costs.”
“Moving in with family and pooling resources can also help a family afford more space or a better location in today’s challenging market,” said Jones. “As home prices and mortgage rates remain elevated, every little bit helps when it comes to affording a home purchase.”