Do you want content like this delivered to your inbox?
Share
Share

Millennials Will Do Whatever It Takes To Own A Home

Julie R Baldino

Front Door Realty is locally owned and operated...

Front Door Realty is locally owned and operated...

Oct 4 2 minutes read

Millennials are facing major stress trying to come up with ways to balance a down payment, student loans, and impending mortgages, but they are finding solutions:

 

(Image provided by Realtor Magazine Online)

The major concerns for these first time home buyers is how they can get the down payment afforded, 50% saying it was their number one obstacle in buying a home followed by affording a home in their preferred location (45%) and the rising home prices (42%). 

To save for this down payment, millennials are looking for funds, and fast, through taking early distributions of their retirement fund (13%), cash gifts from family members (24%), and inheritance (12%). 

What is even crazier is that about 10% of millennials were recorded to selling crypto-currency in order to afford a home. 

Through these amazing sacrifices, millennials are buying homes in the marketplace. Buying a home is an investment, but also a chance for a better future. Good luck to these millennials in their adventure towards home ownership!  

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info