Age plays a key role for Americans considering relocation out of the country, according to a survey from Compare the Market.

The majority of Baby Boomers (58-year-olds and above) have not considered a relocation in the past 12 months despite retirement representing an opportunity to move overseas, the data showed, while more than 40% of Generation Z (18- to 25-year-olds) adults have thought of moving overseas.

“While moving overseas may be a good choice for some, it could be a daunting and costly change of lifestyle for others,” said Stephen Zeller, Compare the Market’s general manager of money.

“There are still benefits in staying in your home country,” he said. “In Australia, the increase in net overseas migration has had a larger impact on the rental market since those who choose to emigrate typically rent rather than buy. However, demand has outstripped property supply in Australia with a resurgence in interest rates, rise in interstate migration, and an increase in material costs and labor shortages which have caused delays in new home constructions.”

Key findings for survey participants who considered relocation or have relocated overseas:

• Twenty-one percent said they intend to stay for two to five years.
• Eighteen percent intend to stay for only one to two years
• Two percent wanted to stay for 10 years or more, while 19% said they would not return to their original country.