Millennials redefining homeownership
It never ceases to amaze me how surprised people are when I tell them that I’m both unmarried and own a home. For people in their early to mid 20’s like myself, renting is the norm and home ownership is the exception. Just out of college, with student loans and entry-level earnings that can make it difficult to save for a house as an apartment dweller, NerdWallet found in a recent study that one reason millennials aren’t buying homes at the pace of previous generations is a perception that they can’t afford to own.
In my personal opinion, another one of the main reasons for not buying young is that millennials wait until marriage, because at that point, they likely have a better idea of where they want to live and/or have more stability in the workplace. The second is that they value low-key, low-maintenance lifestyles. Home ownership often doesn’t fit this value point.continue reading »